The Wave-PM (Whistler Active Volatility Energy - Price Mass) indicator is an oscillator described in Mark Whistler's book 'Volatility Illuminated'.
The Wave-PM was specifically designed to help read cycles of volatility. When visualizing volatility cycles as a heatmap we can get a clear overview of market volatility phases on multiple timeframes, and more importantly as traders give us insight into 'potential' volatility from to pent up energy signaled by the blue and green plumes which invariably give way to big moves signaled by the orange and red plumes.
This indicator can be quite GPU intensive, so simple and also line based visualization methods are included. Also, its free and open source so go ahead and hack it to your hearts content. Enjoy!
What a great book. It and Macro to Micro are game changing. Still tough to implement. Brave of you to share the secret sir! ;)
JuusoLGL
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Can you add comments about the math in WPM function? Very clean and self explanatory code otherwise.
sourcey
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@JuusoLGL, without going into too much detail you can think of it as a normalized bollinger band oscillator.
just_naba
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lovely thanxxxx,,,kindly,,how its working?
PineCoders
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This publication is now featured in our Editors' Picks: tradingview.com/scripts/editors-picks/ .
In the name of all TradingViewers, thank you for your valuable contribution to the community, and congrats!
sourcey
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@PineCoders, thanks a lot! I'm happy to contribute and have a lot more goodies to publish, just need to find the time!
SUCCESSDOC
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Thanks bro for the great work,We are lucky to have you my dear pro trader.God bless !!!