//@version=5 indicator("Absolute Wave 3 Momentum", overlay=true) length = 20 momentum = close - close[length] momentum_rise = momentum > momentum[1] and momentum > momentum[2] plotshape(momentum_rise and close > ta.ema(close, 50), title="Wave 3 Signal", location=location.belowbar, color=color.new(color.green, 0), style=shape.triangleup, size=size.small)
: Flips the detection logic to search for bullish impulses in a downtrend or zigzags in an uptrend.
For absolute clarity, use this simple Pine Script indicator on TradingView to highlight potential Wave 3 expansions:
"Let’s see if you’re as smart as they say," he muttered.
//@version=5 indicator("Absolute Wave 3 Momentum", overlay=true) length = 20 momentum = close - close[length] momentum_rise = momentum > momentum[1] and momentum > momentum[2] plotshape(momentum_rise and close > ta.ema(close, 50), title="Wave 3 Signal", location=location.belowbar, color=color.new(color.green, 0), style=shape.triangleup, size=size.small)
: Flips the detection logic to search for bullish impulses in a downtrend or zigzags in an uptrend.
For absolute clarity, use this simple Pine Script indicator on TradingView to highlight potential Wave 3 expansions:
"Let’s see if you’re as smart as they say," he muttered.
