Waddah Attar Explosion [LazyBear]

This is a port of a famous MT4 indicator, as requested by user @maximus71. This indicator uses MACD/BB to track trend direction and strength. Author suggests using this indicator on 30mins.

Explanation from the indicator developer:

"Various components of the indicator are:

Dead Zone Line: Works as a filter for weak signals. Do not trade when the red or green histogram is below it.

Histograms:
- Red histogram shows the current down trend.
- Green histogram shows the current up trend.
- Sienna line shows the explosion in price up or down.

Signal for ENTER_BUY: All the following conditions must be met.
- Green histo is raising.
- Green histo above Explosion line.
- Explosion line raising.
- Both green histo and Explosion line above DeadZone line.

Signal for EXIT_BUY: Exit when green histo crosses below Explosion line.

Signal for ENTER_SELL: All the following conditions must be met.
- Red histo is raising.
- Red histo above Explosion line.
- Explosion line raising.
- Both red histo and Explosion line above DeadZone line.

Signal for EXIT_SELL: Exit when red histo crosses below Explosion line. "

All of the parameters are configurable via options page. You may have to tune it for your instrument.

More info:
Author note:
Video (French):

List of my other indicators:
- GDoc:
- Chart:

List of my free indicators: bit.ly/1LQaPK8
List of my indicators at Appstore: blog.tradingview.com/?p=970

Open-source Skript

Ganz im Spirit von TradingView hat der Autor dieses Skripts es als Open-Source veröffentlicht, damit Trader es besser verstehen und überprüfen können. Herzlichen Glückwunsch an den Autor! Sie können es kostenlos verwenden, aber die Wiederverwendung dieses Codes in einer Veröffentlichung unterliegt den Hausregeln. Sie können es als Favoriten auswählen, um es in einem Chart zu verwenden.

Haftungsausschluss

Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.

Möchten Sie dieses Skript auf einem Chart verwenden?

//
// @author LazyBear 
// List of all my indicators: 
// https://docs.google.com/document/d/15AGCufJZ8CIUvwFJ9W-IKns88gkWOKBCvByMEvm5MLo/edit?usp=sharing
//
study("Waddah Attar Explosion [LazyBear]", shorttitle="WAE_LB")
sensitivity = input(150, title="Sensitivity")
fastLength=input(20, title="FastEMA Length")
slowLength=input(40, title="SlowEMA Length")
channelLength=input(20, title="BB Channel Length")
mult=input(2.0, title="BB Stdev Multiplier")
deadZone=input(20, title="No trade zone threshold")

calc_macd(source, fastLength, slowLength) =>
	fastMA = ema(source, fastLength)
	slowMA = ema(source, slowLength)
	fastMA - slowMA

calc_BBUpper(source, length, mult) => 
	basis = sma(source, length)
	dev = mult * stdev(source, length)
	basis + dev

calc_BBLower(source, length, mult) => 
	basis = sma(source, length)
	dev = mult * stdev(source, length)
	basis - dev

t1 = (calc_macd(close, fastLength, slowLength) - calc_macd(close[1], fastLength, slowLength))*sensitivity
t2 = (calc_macd(close[2], fastLength, slowLength) - calc_macd(close[3], fastLength, slowLength))*sensitivity

e1 = (calc_BBUpper(close, channelLength, mult) - calc_BBLower(close, channelLength, mult))
//e2 = (calc_BBUpper(close[1], channelLength, mult) - calc_BBLower(close[1], channelLength, mult))

trendUp = (t1 >= 0) ? t1 : 0
trendDown = (t1 < 0) ? (-1*t1) : 0

plot(trendUp, style=columns, linewidth=1, color=(trendUp<trendUp[1])?lime:green, transp=45, title="UpTrend")
plot(trendDown, style=columns, linewidth=1, color=(trendDown<trendDown[1])?orange:red, transp=45, title="DownTrend")
plot(e1, style=line, linewidth=2, color=#A0522D, title="ExplosionLine")
hline(deadZone, color=blue, linewidth=2, title="DeadZoneLine")

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