From the author:
Here is the Waddah Attar Explosion Indicator. It indicates possible explosion depending on two indicators (Bollinger & MACD). With this indicator, you can discover when the price explosion starts and when it ends
Here it is converted by Syracusepro to ThinkorSwim. I also found this indicator on MQL5 as well.
Some notes I found:
Here is the Waddah Attar Explosion Indicator. It indicates possible explosion depending on two indicators (Bollinger & MACD). With this indicator, you can discover when the price explosion starts and when it ends
Here it is converted by Syracusepro to ThinkorSwim. I also found this indicator on MQL5 as well.
Some notes I found:
thinkScript Code
Rich (BB code):
declare lower;
#------------- "Waddah Attar Explosion " ------------#
input sensitivity = 150; #"Sensitivity"
input fastLength = 20; #"FastEMA Length"
input slowLength = 40; #"SlowEMA Length"
input channelLength = 20; #"BB Channel Length"
input mult = 2.0; #"BB Stdev Multiplier"
input deadZone = 20; #"No trade zone threshold"
script calc_macd{
input source = close;
input fastLength = 20;
input slowLength = 40;
def fastMA = movAvgExponential(source, fastLength);
def slowMA = movAvgExponential(source, slowLength);
plot out = fastMA - slowMA;
}
script calc_BBUpper{
input source = close;
input length = 20;
input mult = 2.0;
def basis = simpleMovingAvg(source, length);
def dev = mult * stdev(source, length);
plot out = basis + dev;
}
script calc_BBLower{
input source = close;
input length = 20;
input mult = 2.0;
def basis = simpleMovingAvg(source, length);
def dev = mult * stdev(source, length);
plot out = basis - dev;
}
def t1 = (calc_macd(close, fastLength, slowLength) - calc_macd(close[1],
fastLength, slowLength)) * sensitivity;
def t2 = (calc_macd(close[2], fastLength, slowLength) -
calc_macd(close[3], fastLength, slowLength)) * sensitivity;
def e1 = (calc_BBUpper(close, channelLength, mult) - calc_BBLower(close,
channelLength, mult));
#//
def e2 = (calc_BBUpper(close[1], channelLength, mult) - calc_BBLower(close[1], channelLength, mult));
def trendUp = if t1 >= 0 then t1 else 0;
def trendDown = if t1 < 0 then (-1 * t1) else 0;
plot tUp = trendUp; #"UpTrend"
#Also try using columns to see how it looks.
tUp.setpaintingStrategy(paintingStrategy.HISTOGRAM);
tUp.assignValueColor(if trendUp < trendUp[1] then color.light_GREEN else
color.green);
plot tDn = trendDown; #"DownTrend"
tDn.setpaintingStrategy(paintingStrategy.HISTOGRAM);
tDn.assignValueColor(if trendDown < trendDown[1] then color.orange else
color.red);
plot ex = e1; #"ExplosionLine"
ex.setdefaultColor(createColor(160, 82, 45));
plot xLine = deadZone; #"DeadZoneLine"
xLine.setdefaultColor(color.blue);
#------------- "Waddah Attar Explosion " ------------#Shareable Link
https://tos.mx/BM3O4c
Last edited by a moderator:
