Wave Channel 3D
Wave Channel 3D
Built by Ricardo idea from JR & Aloakdutt from indieTrades Jan. 2010
This indicator is very easy to build. We utilize Moving Averages with a set multiplier and an offset. Specially we try to use Fibonacci sequence series numbers (1, 2, 3, 5, 8, 13, 21, 34, 55, 89, 144...) as time space and multiplier (default 89, 8). Also included is Donchian Channel to locate strong trends and possible future support - resistance.
Examples of support/resistance on chart.
Dominant Price Trends
Future Support Resistance
Comparing Fibonacci Series Time Space - Multiplier
When Comparing make note of confluence support/resistance showing up with Fibonacci Series
Example uses DC
When Comparing make note of confluence support/resistance showing up with Fibonacci Series
Example without DC / Smooth MA
Built by Ricardo idea from JR & Aloakdutt from indieTrades Jan. 2010
This indicator is very easy to build. We utilize Moving Averages with a set multiplier and an offset. Specially we try to use Fibonacci sequence series numbers (1, 2, 3, 5, 8, 13, 21, 34, 55, 89, 144...) as time space and multiplier (default 89, 8). Also included is Donchian Channel to locate strong trends and possible future support - resistance.
Examples of support/resistance on chart.
Dominant Price Trends
Future Support Resistance
Comparing Fibonacci Series Time Space - Multiplier
When Comparing make note of confluence support/resistance showing up with Fibonacci Series
Example uses DC
When Comparing make note of confluence support/resistance showing up with Fibonacci Series
Example without DC / Smooth MA
study(title="3D-Wave Channel", shorttitle="3D-WC", overlay=true) timespace = input(1) smooth = input(89) offsetMultiplier=input(8) useDonchianAverage = input(false) src = input(ohlc4) ma = useDonchianAverage ? avg(highest(smooth),lowest(smooth)) : ema(src, smooth) plot(ma[0], color=black, offset=offsetMultiplier*01) plot(ma[timespace*01], color=silver, offset=offsetMultiplier*02) plot(ma[timespace*02], color=silver, offset=offsetMultiplier*03) plot(ma[timespace*03], color=gray, offset=offsetMultiplier*04) plot(ma[timespace*04], color=gray, offset=offsetMultiplier*05) plot(ma[timespace*05], color=gray, offset=offsetMultiplier*06) plot(ma[timespace*06], color=silver, offset=offsetMultiplier*07) plot(ma[timespace*07], color=silver, offset=offsetMultiplier*08) plot(ma[timespace*08], color=gray, offset=offsetMultiplier*09) plot(ma[timespace*09], color=gray, offset=offsetMultiplier*10) plot(ma[timespace*10], color=black, offset=offsetMultiplier*11) max_ma()=>max(ma[timespace*10],max(ma[timespace*9],max(ma[timespace*8],max(ma[timespace*7],max(ma[timespace*6],max(ma[timespace*5],max(ma[timespace*4],max(ma[timespace*3],max(ma[timespace*2],max(ma[timespace*1], ma)))))))))) min_ma()=>min(ma[timespace*10],min(ma[timespace*9],min(ma[timespace*8],min(ma[timespace*7],min(ma[timespace*6],min(ma[timespace*5],min(ma[timespace*4],min(ma[timespace*3],min(ma[timespace*2],min(ma[timespace*1], ma)))))))))) top = highest(max_ma(), smooth) bot = lowest(min_ma(), smooth) plot(top, color=black, offset=offsetMultiplier) plot(bot, color=black, offset=offsetMultiplier)