SMA WAVE // SUNIL SETHI // V1.0

29 Tem

This TradingView indicator visualizes the relationship between two simple moving averages (SMAs) of your choice — default 10-period and 20-period — to help traders quickly identify short-term trend shifts and momentum through color-coded wave fills and line trends.

✅ Dual SMA Calculation
Calculates two SMAs: SMA 1 (default 10) and SMA 2 (default 20).

Option to use any custom timeframe for both SMAs via the SMA Timeframe input.

🎨 Dynamic Visual Feedback
SMA lines change color based on direction:

Rising = Green (or custom)

Falling = Red (or custom)

Optional toggle to use static colors instead.

Wave area between SMA1 and SMA2 is filled with color to show crossovers and divergence.

👁️‍🗨️ Visibility Controls
Toggle visibility for:

SMA 1 line

SMA 2 line

The wave fill between SMAs

⚙️ Customization Options
Adjust:

SMA lengths

Wave fill transparency

Colors when rising or falling

Manual override colors for SMA lines

📈 How It Works

When SMA 1 > SMA 2, the wave fill shows a rising trend (e.g., green).

When SMA 1 < SMA 2, the fill switches to a falling trend (e.g., red).

The lines themselves also reflect momentum (rising/falling) based on current vs previous value unless overridden.

🧠 Use Cases

Spot short-term trend reversals or momentum shifts

Confirm entries/exits based on SMA crossovers

Visualize trend strength through color intensity and divergence

29 Tem

Sürüm Notları

Updated version only.

29 Tem

Sürüm Notları

Given the ability to choose between SMA & EMA
Changed default time period to 5 & 20 for smooth Wave formation.