Sirius Wavetrend: 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

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

Sirius System.pine

// This source code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/
// © Jerry

//@version=4
study("Sirius Wavetrend", overlay=1)

//*************** SIRIUS SYSTEM ***************//

//GENERAL SETTINGS
useGenObOs = input(true, "Use General Overbought/Oversold?", group="General Settings")
genOb = input(70, "General Overbought Level", group="General Settings")
genOs = input(30, "General Oversold Level", group="General Settings")


firstInd = input("MACD", "First Indicator", options=["MACD", "Wave Trend"])
scndInd = input("RSI", "Sirius Second Indicator", options = ["RSI", "Stochastic", "Any", "Both"], group="General Settings")
incAltMacd = input(false, "Include Alternative MACD Rule?")

//***** INDICATORS *****//

// HTF MACD
// {

// INPUTS
//{
macdRes     = input("120", "HTF MACD TimeFrame", input.resolution, group="HTF MACD")
macdSrc = input(close, "MACD Source", input.source, group="HTF MACD")
macdflen = input(12, "MACD Fast Length", group="HTF MACD")
macdslen = input(26, "MACD Slow Length", group="HTF MACD")
siglen = input(9, "MACD Signal Line", group="HTF MACD")
macdMeth = input("Calculate", "MACD Calculation Method", options=["Calculate", "HTF Import"])
//}

// FUNCTIONS
//{
htf_macd() =>
    htfFastMa = sma(macdSrc, macdflen)
    htfSlowMa = sma(macdSrc, macdslen)
    htfMacd    = htfFastMa - htfSlowMa
    htfSignal  = sma(htfMacd, siglen)
    htfHist    = htfMacd - htfSignal
    clr = (htfHist>=0 ? (htfHist[1] < htfHist ? #26A69A : #B2DFDB) : (htfHist[1] < htfHist ? #FFCDD2 : #EF5350) )
    
    [htfMacd, htfSignal, htfHist, clr]
//}

// CALCULATIONS
//{

[calcMacd, calcSignal, calcHist, calcHistcolor] = security(syminfo.tickerid, macdRes, htf_macd(), barmerge.gaps_off, barmerge.lookahead_off)
[impMacd, impSignal, impHist] = security(syminfo.tickerid, macdRes, macd(macdSrc, macdflen, macdslen, siglen), barmerge.gaps_off, barmerge.lookahead_off)
impHistColor = impHist >= 0 ? ( impHist[1] < impHist ? #26A69A : #B2DFDB ) : ( impHist[1] < impHist ? #FFCDD2 : #EF5350 ) 


htfMacd = macdMeth == "Calculate" ? calcMacd : impMacd
htfSignal = macdMeth == "Calculate" ? calcSignal : impSignal
htfHist = macdMeth == "Calculate" ? calcHist : impHist
mcolor = macdMeth == "Calculate" ? calcHistcolor : impHistColor


//}

// SIGNALS 
//{
htfMacdLong = mcolor == #FFCDD2 and htfMacd < 0
htfMacdShort = mcolor == #B2DFDB and htfMacd > 0 

altHtfMacdLong = mcolor == #26A69A and htfMacd < 0
altHtfMacdShort = mcolor == #EF5350 and htfMacd > 0
//}

//}
// SIGNAL ==> htfMacdLong, htfMacdShort, altHtfMacdLong, altHtfMacdShort

//WAVE TREND
// {

wtRes = input("120", "Wave Trend Timeframe", input.resolution, group="WAVE TREND")
wtChannelLen = input(10, "Channel Length", inline="wt1", group="WAVE TREND")
wtAvgLen = input(21, "Average Length", inline="wt1", group="WAVE TREND")
wtOb = input(50, "WT Overbought", group="WAVE TREND", inline="wtObOs")
wtOs = input(-50, "WT Oversold", group="WAVE TREND", inline="wtObOs")
wtUseObOs = input(true, "Use Wave Trend Overbought/Oversold Levels", group="WAVE TREND")
 
wtSrc = security(syminfo.tickerid, wtRes, hlc3, barmerge.gaps_off, barmerge.lookahead_off) 
wtEsa = security(syminfo.tickerid, wtRes, ema(wtSrc, wtChannelLen), barmerge.gaps_off, barmerge.lookahead_off)
d = security(syminfo.tickerid, wtRes, ema(abs(wtSrc - wtEsa), wtChannelLen), barmerge.gaps_off, barmerge.lookahead_off)
ci = (wtSrc - wtEsa) / (0.015 * d)
tci = ema(ci, wtAvgLen)
 
wtLine = tci
wtSignal = sma(wtLine,4)
wtHist = wtLine - wtSignal

wtHistColor = wtHist >= 0 ? ( wtHist[1] < wtHist ? #26A69A : #B2DFDB ) : ( wtHist[1] < wtHist ? #FFCDD2 : #EF5350 ) 

isWtOb = wtUseObOs ? wtLine >= wtOb : wtLine > 0
isWtOs = wtUseObOs ? wtLine <= wtOs : wtLine < 0

wtLong = wtHistColor == #FFCDD2 and isWtOs
wtShort = wtHistColor == #B2DFDB and isWtOb


//}
//SIGNALS ==> wtLong, wtShort

//Alternative signal for Wave trend is if HTF Wavetrend has a bullish configuration (wtLine > wtSignal) or bearish

//HTF RSI
// {

//INPUTS 
// {
rsiRes = input("60", "RSI Timeframe", input.resolution, group="RSI")
rsiSrc = input(close, "RSI Source", input.source, group="RSI")
rsiLen = input(14, "RSI Length", group="RSI")
rsiOb  = input(60, "Overbought", group="RSI", inline ="rsiObOs")
rsiOs  = input(40, "Oversold", group="RSI", inline ="rsiObOs")
// }

//CALCULATION
// {
rsi = security(syminfo.tickerid, rsiRes, rsi(rsiSrc, rsiLen), barmerge.gaps_off, barmerge.lookahead_off)

isRsiOb = useGenObOs ? rsi >= genOb : rsi >= rsiOb
isRsiOs = useGenObOs ? rsi <= genOs : rsi <= rsiOs
// }

//}
// SIGNAL ==> isRsiOb, isRsiOs

// HTF STOCHASTIC
// {

stRes = input("60", "Stochastic Timeframe", input.resolution, group="STOCHASTIC")
stLen = input(10, title="%K Length", minval=1, group="STOCHASTIC")
stSmooth = input(3, title="%K Smoothing", minval=1, group="STOCHASTIC")
stSigLen = input(3, title="%D Smoothing", minval=1, group="STOCHASTIC")
stOb = input(70,  "Overbought", group="STOCHASTIC", inline="stObOs")
stOs = input(30,  "Oversold", group="STOCHASTIC", inline="stObOs")

stoch = security(syminfo.tickerid, stRes, sma(stoch(close, high, low, stLen), stSmooth), barmerge.gaps_off, barmerge.lookahead_off) 
stSignal = sma(stoch, stSigLen)

isStOb = useGenObOs ? stoch >= genOb : stoch >= stOb
isStOs = useGenObOs ? stoch <= genOs : stoch <= stOs

//}
//SIGNAL ==> isStOb, isStOs


//***** SIRIUS SIGNALS *****//
// {

srMacdLong = incAltMacd ? htfMacdLong or altHtfMacdLong : htfMacdLong
srMacdShort = incAltMacd ? htfMacdShort or altHtfMacdShort : htfMacdShort

sr1stIndLong = firstInd == "MACD" ? srMacdLong : firstInd == "Wave Trend" ? wtLong : na
sr1stIndShort = firstInd == "MACD" ? srMacdShort : firstInd == "Wave Trend" ? wtShort : na

sr2ndIndLong  = 
  scndInd == "Both" ? isRsiOs and isStOs :
  scndInd == "Any" ? isRsiOs or isStOs :
  scndInd == "RSI" ? isRsiOs :
  scndInd == "Stochastic" ? isStOs :
  na


sr2ndIndShort  = 
  scndInd == "Both" ? isRsiOb and isStOb :
  scndInd == "Any" ? isRsiOb or isStOb :
  scndInd == "RSI" ? isRsiOb :
  scndInd == "Stochastic" ? isStOb :
  na
  
  
srLong = sr1stIndLong and sr2ndIndLong
srShort = sr1stIndShort and sr2ndIndShort
//}
//SIGNALS ==> srLong, srShort

plotshape(srLong, "Long", shape.triangleup, location.belowbar, color.lime, size = size.small)
plotshape(srShort, "Short", shape.triangledown, location.abovebar, color.maroon, size = size.small)

plot(na)

Overview

Sirius Wavetrend marks long and short MACD states from histogram color and the MACD sign, with an optional alternative color rule. Users choose the first indicator, the second oscillator, calculation versus imported MACD, lengths, sources, and overbought or oversold levels. The study is set to overlay the price chart. The supplied file stops before later plot and signal logic.

Higher-timeframe MACD histogram states
Wave Trend channel oscillator
Selectable first and second indicators
General and oscillator overbought levels
Optional alternative MACD signal rule

Details

Published by

jerryinyang on GitHub

Code credit

Jerry, 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

Incomplete/Sirius System.pine

Repository

github.com/jerryinyang/Cerebr-Pinescript-Codebase. 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
Use General Overbought/Oversold?	`bool`	`true`	`useGenObOs`
General Overbought Level	`int`	`70`	`genOb`
General Oversold Level	`int`	`30`	`genOs`
First Indicator	`string`	`MACD`	`firstInd`
Sirius Second Indicator	`string`	`RSI`	`scndInd`
Include Alternative MACD Rule?	`bool`	`false`	`incAltMacd`
HTF MACD TimeFrame	`timeframe`	`120`	`macdRes`
MACD Source	`source`	`close`	`macdSrc`
MACD Fast Length	`int`	`12`	`macdflen`
MACD Slow Length	`int`	`26`	`macdslen`
MACD Signal Line	`int`	`9`	`siglen`
MACD Calculation Method	`string`	`Calculate`	`macdMeth`

Show all 29 settings

Setting	Type	Default	Variable
Wave Trend Timeframe	`timeframe`	`120`	`wtRes`
Channel Length	`int`	`10`	`wtChannelLen`
Average Length	`int`	`21`	`wtAvgLen`
WT Overbought	`int`	`50`	`wtOb`
WT Oversold	`int`	`-50`	`wtOs`
Use Wave Trend Overbought/Oversold Levels	`bool`	`true`	`wtUseObOs`
RSI Timeframe	`timeframe`	`60`	`rsiRes`
RSI Source	`source`	`close`	`rsiSrc`
RSI Length	`int`	`14`	`rsiLen`
Overbought	`int`	`60`	`rsiOb`
Oversold	`int`	`40`	`rsiOs`
Stochastic Timeframe	`timeframe`	`60`	`stRes`
%K Length	`int`	`10`	`stLen`
%K Smoothing	`int`	`3`	`stSmooth`
%D Smoothing	`int`	`3`	`stSigLen`
Overbought	`int`	`70`	`stOb`
Oversold	`int`	`30`	`stOs`

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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