Kama-WAP: Free TradingView Indicator (Pine Script)

Add It to Your TradingView Chart

1Copy the scriptPress Copy script above, or the copy button on the code below.
2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
3Paste over the templateCreate a new indicator, select all of the template text and paste. Press Save and give it a name.
4Add it to the chartPress Add to chart, then adjust the settings with the gear icon next to its name.

Source Code

44 lines of Pine Script v4 from TradingView_old/test.pine, published under MPL-2.0 (file header). Keep the author's credit and licence lines when you reuse it.

test.pine

//@version=4
// This source code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/
// © Tykhe_Ideas

study("Kama-WAP", shorttitle="KWAP")
length = input(20)
smoothness = input(1)

make_kame(x, y) =>
    xvnoise = abs(x - x[1])
    nfastend = 0.666
    nslowend = 0.0645
    nsignal = abs(x - x[y])
    nnoise = sum(xvnoise, y)
    nefratio = iff(nnoise != 0, nsignal / nnoise, 0)
    nsmooth = pow(nefratio * (nfastend - nslowend) + nslowend, 2) 
    KAMA = nz(KAMA[1]) + nsmooth * (x - nz(KAMA[1]))

calc_zvwap(pds) =>
    mean = sum(volume * close, pds) / sum(volume, pds)
    vwapsd = sqrt(make_kame(pow(close - mean, 2), pds))
    (close - mean) / vwapsd

plot(0)
upperTop = input(2.5)
upperBottom = input(2.0)
lowerTop = input(-2.5)
lowerBottom = input(-2.0)

plot(1, style=3, color=gray)
plot(-1, style=3, color=gray)
ul1 = plot(upperTop, "OB High")
ul2 = plot(upperBottom, "OB Low")
fill(ul1, ul2, color=red)
ll1 = plot(lowerTop, "OS High")
ll2 = plot(lowerBottom, "OS Low")
fill(ll1, ll2, color=green)


//ma = make_kame(src, length)

wvap_smoothness = ema(calc_zvwap(length), smoothness)

plot(wvap_smoothness, title="ZVWAP", color=black, linewidth=2)

Overview

Kama-WAP measures the close against a rolling volume-weighted mean and divides by a volatility term smoothed with an adaptive Kaufman-style average instead of a simple one. Dotted lines at plus and minus one and shaded bands near plus and minus two to two and a half mark extremes. Length, smoothness and band levels are inputs.

Volume-weighted z-score oscillator
Kaufman adaptive smoothing of volatility
Overbought and oversold bands
Adjustable length and levels

Details

Published by

nvFede on GitHub

Code credit

Tykhe_Ideas, as written in the script's header

Type

Indicator, Pine Script v4

Draws

Separate pane below the chart

Markets

Any symbol

Timeframes

Any timeframe

Risk Notes

No repainting, lookahead or stacked entries were found in its code or README. That says nothing about how well it works: test it first.

File

TradingView_old/test.pine

Repository

github.com/nvFede/tradingview_indicators_old2019. See its other scripts in the library

Settings

The inputs you can change from the gear icon on the chart. Defaults are the author's.

Setting	Type	Default	Variable
length	`int`	`20`	`length`
smoothness	`int`	`1`	`smoothness`
upperTop	`float`	`2.5`	`upperTop`
upperBottom	`float`	`2.0`	`upperBottom`
lowerTop	`float`	`-2.5`	`lowerTop`
lowerBottom	`float`	`-2.0`	`lowerBottom`

Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.

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