This library provides a way to calculate the y-coordinate of a line on a specified bar when the chart scale is Log.
The built-in `line.get_price()` function only works with linear scale and gives incorrect results when the chart is in Log scale.
The library only works with `bar_index` values and `xloc.bar_index`-based lines,...
This is similar to regular WaveTrend Oscillator except:
- replaces hlc3 input with a weighted log formula for better stability/performance on high volatility charts
- zero-centered scaling
- SMA crossovers above and below OB/OS thresholds are marked as buy/sell signals
I found this awesome script from @quantadelic and edited it to be a bit more legible for regular use, including coloured zones and removing the intercept / slope values as variables, to leave space for the fib levels in the indicator display. I hope you all like it.
This indicator is basically the standard linear regression but adjusted to be suitable for log scale.
You can use 2 different standard deviation values, choose the data source and lookback length.
The colors are chosen directly on the main menu.
This is a straightforward modification of LazyBear's CCI-coded OBV indicator with the following changes:
1) uses log-hl2 as source, which seems to be a more stable indicator of price change than close
2) adds optional price smoothing
This indicator is in principle similar to Stochastic Oscillator, but contains the following improvements:
- advanced Ehlers-based smoothing (typically results in earlier signals than regular EMA smoothing)
- graceful degradation when few candles present for improved accuracy in the beginning of the chart
- buy/sell signals based on K-D crossover above/below thresholds
This indicator has two features that make it better than standard SMMA for cryptocurrencies:
- starts from the very first candle
- calculations are performed in log-space which means less sensitivity to extreme volatility common in crypto world
This is the same script as the built-in Ultimate Oscillator except it is calculated in log-space, which may help with some very high-volatility charts (the differences will be usually be very small though).