OPEN-SOURCE SCRIPT
Function Sawtooth Wave
This is an indicator to draw a sawtooth wave on the chart.
It can be a useful perspective, as decaying markets tend to oscillate in reverse sawtooth waves, and bullish markets can oscillate in conventional sawtooth waves. With the right inputs, it can be an early warning signal for potential movements.
Something I've noted is that large waves cause a ripple effect and sets the frequency for the market until a change occurs. Sawtooth waves may help in capturing ripple waves.
Useful inputs are:
- Average True Range as wave height (amplitude)
- Periodicity of market as wave duration (frequency)
(Inputs will change the wave from conventional to reverse)
I hope that it is helpful.
GLHF
- DPT
It can be a useful perspective, as decaying markets tend to oscillate in reverse sawtooth waves, and bullish markets can oscillate in conventional sawtooth waves. With the right inputs, it can be an early warning signal for potential movements.
Something I've noted is that large waves cause a ripple effect and sets the frequency for the market until a change occurs. Sawtooth waves may help in capturing ripple waves.
Useful inputs are:
- Average True Range as wave height (amplitude)
- Periodicity of market as wave duration (frequency)
(Inputs will change the wave from conventional to reverse)
I hope that it is helpful.
GLHF
- DPT
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.