PROTECTED SOURCE SCRIPT
Smooth Momentum Waves
Zaktualizowano
A momentum oscillator based on z-score of logarithmic returns by default, but can be applied to a mean of returns or price as well.
When applied to logarithmic returns, price, or mean of returns, it takes a series of z-score values, and applies a smoothing filter to attempt and filter out noise to derive a trend or momentum signal.
Since volatility in my previous indicators is estimated using standard deviation of log returns, this can be considered a momentum oscillator based on volatility when sourced to logarithmic returns.
The oscillator will change colors based on the trend, as well as crossing above below the 0 line.
Coloring:
Green and above 0, or Dark red when below 0 = Price increasing
Dark green and above 0, Red when below 0 = Price decreasing
When applied to logarithmic returns, price, or mean of returns, it takes a series of z-score values, and applies a smoothing filter to attempt and filter out noise to derive a trend or momentum signal.
Since volatility in my previous indicators is estimated using standard deviation of log returns, this can be considered a momentum oscillator based on volatility when sourced to logarithmic returns.
The oscillator will change colors based on the trend, as well as crossing above below the 0 line.
Coloring:
Green and above 0, or Dark red when below 0 = Price increasing
Dark green and above 0, Red when below 0 = Price decreasing
Informacje o Wersji
*removed unnecessary setting from testing code*Informacje o Wersji
*updated chart image*
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