OPEN-SOURCE SCRIPT
M waves Mk3 'Magical M's
v1
https://www.tradingview.com/script/sJlF0AIH-Magical-M-v1/
V2
https://www.tradingview.com/script/uX1gfSa4-Magical-M-s-Mk2-with-rudimentary-strategy/
V3
https://www.tradingview.com/script/2ZaQ1Ndm-M-waves-Mk3-Magical-M-s/
So I forgot this existed so here is the Opened sourced code (pm me for older sorce code there are 600+ Saves)(pm me for other scrips course code too lazy to republish everything)
Changes: Simplified and annotated code/upgraded to v4 format
as always adjust before using
i use this indicator combined with the other frequency one to help me identify time and direction of next move.
Pair with rsi
Pair with detrended tsi (have unpublished script might share later)
‘Redraw’ safe
Slightly detrented(adjustable) to avoid traps
quick how to use:
Meant as and adjustable indicator to “tune" to personal risk/reward preference
Green means buy red means sell
arrow indicators for long term sell and buy
Highly customizable (candles too)
Check out my profile for previous versions they are less customizable but also easier to get started with
similar to rsi you want to buy/sell when the indicator turns green/red and lines are as pinched as posible (the lines that are being filled).
keep an eye on the other line that moves around ;) if its not matching the other 2 moving averages and the main color indicator chances are its a trap(works both ways)
use the candles to help you keep your eye on the indicator when scalping (look at the original post for some color ideas)
https://www.tradingview.com/script/sJlF0AIH-Magical-M-v1/
V2
https://www.tradingview.com/script/uX1gfSa4-Magical-M-s-Mk2-with-rudimentary-strategy/
V3
https://www.tradingview.com/script/2ZaQ1Ndm-M-waves-Mk3-Magical-M-s/
So I forgot this existed so here is the Opened sourced code (pm me for older sorce code there are 600+ Saves)(pm me for other scrips course code too lazy to republish everything)
Changes: Simplified and annotated code/upgraded to v4 format
as always adjust before using
i use this indicator combined with the other frequency one to help me identify time and direction of next move.
Pair with rsi
Pair with detrended tsi (have unpublished script might share later)
‘Redraw’ safe
Slightly detrented(adjustable) to avoid traps
quick how to use:
Meant as and adjustable indicator to “tune" to personal risk/reward preference
Green means buy red means sell
arrow indicators for long term sell and buy
Highly customizable (candles too)
Check out my profile for previous versions they are less customizable but also easier to get started with
similar to rsi you want to buy/sell when the indicator turns green/red and lines are as pinched as posible (the lines that are being filled).
keep an eye on the other line that moves around ;) if its not matching the other 2 moving averages and the main color indicator chances are its a trap(works both ways)
use the candles to help you keep your eye on the indicator when scalping (look at the original post for some color ideas)
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
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