WaveTrend and Multi-Timeframe Trend Reversal

[ysokayev]

Made this to track momentum change the WaveTrend and heikinashi trend on multi-timeframes. I'll take input but this has worked for me like a charm.

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

//@version=5
indicator(title = "Diamond V2.0", shorttitle = "D2.0", overlay=true)

//RSI + MFI
rsiMFIShow = input.bool(true, title = 'Show MFI')
rsiMFIperiod = input.int(60,title = 'MFI Period')
rsiMFIMultiplier = input.float(150, title = 'MFI Area multiplier')
rsiMFIPosY = input.float(2.5, title = 'MFI Area Y Pos')

// WaveTrend
wtShow = input.bool(true, title = 'Show WaveTrend')
wtChannelLen = input.int(9, title = 'WT Channel Length')
wtAverageLen = input.int(12, title = 'WT Average Length')
wtMASource = input.source(hlc3, title = 'WT MA Source')
wtMALen = input.int(3, title = 'WT MA Length')

// WaveTrend Overbought & Oversold lines

obLevel = input.int(53, title = 'WT Overbought Level 1')
obLevel2 = input.int(60, title = 'WT Overbought Level 2')
obLevel3 = input.int(100, title = 'WT Overbought Level 3')
osLevel = input.int(-53, title = 'WT Oversold Level 1')
osLevel2 = input.int(-60, title = 'WT Oversold Level 2')
osLevel3 = input.int(-75, title = 'WT Oversold Level 3')

// Sommi Flag
sommiFlagShow = input.bool(true, title = 'Show Sommi flag')
sommiShowVwap = input.bool(false, title = 'Show Sommi F. Wave')
sommiVwapTF = input.string('720', title = 'Sommi F. Wave timeframe')
sommiVwapBearLevel = input.int(0, title = 'F. Wave Bear Level (less than)')
sommiVwapBullLevel = input.int(0, title = 'F. Wave Bull Level (more than)')
soomiFlagWTBearLevel = input.int(0, title = 'WT Bear Level (more than)')
soomiFlagWTBullLevel = input.int(0, title = 'WT Bull Level (less than)')
soomiRSIMFIBearLevel = input.int(0, title = 'Money flow Bear Level (less than)')
soomiRSIMFIBullLevel = input.int(0, title = 'Money flow Bull Level (more than)')

// Sommi Diamond
sommiDiamondShow = input.bool(true, title = 'Show Sommi diamond')
sommiRingShow = input.bool(true, title = 'Show Sommi Ring')

sommiHTCRes = input.string('5', title = 'HTF Candle Res. 1')
sommiHTCRes2 = input.string('10', title = 'HTF Candle Res. 2')
sommiHTCRes3 = input.string('15', title = 'HTF Candle Res. 3')
sommiHTCRes4 = input.string('30', title = 'HTF Candle Res. 4')
sommiHTCRes5 = input.string('60', title = 'HTF Candle Res. 5')

//sommiHTCRes = input.string('15', title = 'HTF Candle Res. 1')
//sommiHTCRes2 = input.string('30', title = 'HTF Candle Res. 2')
//sommiHTCRes3 = input.string('60', title = 'HTF Candle Res. 3')
//sommiHTCRes4 = input.string('120', title = 'HTF Candle Res. 4')
//sommiHTCRes5 = input.string('240', title = 'HTF Candle Res. 5')
soomiDiamondWTBearLevel = input.int(0, title = 'WT Bear Level (More than)')
soomiDiamondWTBullLevel = input.int(0, title = 'WT Bull Level (Less than)')

sommiHTCRes_0 = input.string('60', title = 'HTF Candle Res. 1')
sommiHTCRes2_0 = input.string('240', title = 'HTF Candle Res. 2')

sommiHTCRes_1m = input.string('15', title = 'HTF Candle Res. 1')
sommiHTCRes2_1m = input.string('10', title = 'HTF Candle Res. 2')
sommiHTCRes3_1m = input.string('5', title = 'HTF Candle Res. 3')
sommiHTCRes4_1m = input.string('2', title = 'HTF Candle Res. 4')
sommiHTCRes5_1m = input.string('1', title = 'HTF Candle Res. 5')

// Colors

colorYellow = input.color( color.rgb(255, 245, 158, 30), "Weak Diamond")
colorPink = input.color(color.rgb(247, 82, 95), "Bearish Diamond")
colorBluelight = input.color( color.rgb(34, 171, 148), "Bullish Diamond")
colorPink_2 = input.color(color.rgb(247, 82, 95, 30), "Bearish Cross")
colorBluelight_2 = input.color( color.rgb(34, 171, 148, 30), "Bullish Cross")
colorBlue = input.color( color.rgb(88, 130, 245), "Color 4")

// RSI+MFI
f_rsimfi(_period, _multiplier, _tf) => request.security(syminfo.tickerid, _tf, ta.sma(((close - open) / (high - low)) * _multiplier, _period) - rsiMFIPosY)

// WaveTrend
f_wavetrend(src, chlen, avg, malen, tf) =>
tfsrc = request.security(syminfo.tickerid, tf, src)
esa = ta.ema(tfsrc, chlen)
de = ta.ema(math.abs(tfsrc - esa), chlen)
ci = (tfsrc - esa) / (0.015 * de)
wt1 = request.security(syminfo.tickerid, tf, ta.ema(ci, avg))
wt2 = request.security(syminfo.tickerid, tf, ta.sma(wt1, malen))
wtVwap = wt1 - wt2
wtOversold = wt2 <= osLevel
wtOverbought = wt2 >= obLevel
wtCross = ta.cross(wt1, wt2)
wtCrossUp = wt2 - wt1 <= 0
wtCrossDown = wt2 - wt1 >= 0
wtCrosslast = ta.cross(wt1[2], wt2[2])
wtCrossUplast = wt2[2] - wt1[2] <= 0
wtCrossDownlast = wt2[2] - wt1[2] >= 0
[wt1, wt2, wtOversold, wtOverbought, wtCross, wtCrossUp, wtCrossDown, wtCrosslast, wtCrossUplast, wtCrossDownlast, wtVwap]

// WaveTrend 1m
f_wavetrend_1m(src, chlen, avg, malen, tf) =>
tfsrc = request.security(syminfo.tickerid, tf, src)
esa = ta.ema(tfsrc, chlen)
de = ta.ema(math.abs(tfsrc - esa), chlen)
ci = (tfsrc - esa) / (0.015 * de)
wt1_1 = request.security(syminfo.tickerid, tf, ta.ema(ci, avg))
wt2_1 = request.security(syminfo.tickerid, tf, ta.sma(wt1_1, malen))
wtVwap_1 = wt1_1 - wt2_1
wtOversold_1 = wt2_1 <= osLevel
wtOverbought_1 = wt2_1 >= obLevel
wtCross_1 = ta.cross(wt1_1, wt2_1)
wtCrossUp_1 = wt2_1 - wt1_1 <= 0
wtCrossDown_1 = wt2_1 - wt1_1 >= 0
wtCrosslast_1 = ta.cross(wt1_1[2], wt2_1[2])
wtCrossUplast_1 = wt2_1[2] - wt1_1[2] <= 0
wtCrossDownlast_1 = wt2_1[2] - wt1_1[2] >= 0
[wt1_1, wt2_1, wtOversold_1, wtOverbought_1, wtCross_1, wtCrossUp_1, wtCrossDown_1, wtCrosslast_1, wtCrossUplast_1, wtCrossDownlast_1, wtVwap_1]

// Sommi flag
f_findSommiFlag(tf, wt1, wt2, rsimfi, wtCross, wtCrossUp, wtCrossDown) =>
[hwt1, hwt2, hwtOversold, hwtOverbought, hwtCross, hwtCrossUp, hwtCrossDown, hwtCrosslast, hwtCrossUplast, hwtCrossDownlast, hwtVwap] = f_wavetrend(wtMASource, wtChannelLen, wtAverageLen, wtMALen, tf)

bearPattern = rsimfi < soomiRSIMFIBearLevel and
wt2 > soomiFlagWTBearLevel and
wtCross and
wtCrossDown and
hwtVwap < sommiVwapBearLevel

bullPattern = rsimfi > soomiRSIMFIBullLevel and
wt2 < soomiFlagWTBullLevel and
wtCross and
wtCrossUp and
hwtVwap > sommiVwapBullLevel

[bearPattern, bullPattern, hwtVwap]

f_getTFCandle(_tf) =>
_open = request.security(ticker.heikinashi(syminfo.tickerid), _tf, open, barmerge.gaps_off, barmerge.lookahead_on)
_close = request.security(ticker.heikinashi(syminfo.tickerid), _tf, close, barmerge.gaps_off, barmerge.lookahead_on)
_high = request.security(ticker.heikinashi(syminfo.tickerid), _tf, high, barmerge.gaps_off, barmerge.lookahead_on)
_low = request.security(ticker.heikinashi(syminfo.tickerid), _tf, low, barmerge.gaps_off, barmerge.lookahead_on)
_hl2 = (_high + _low) / 2.0
newBar = ta.change(_open)
candleBodyDir = _close > _open
[candleBodyDir, newBar]


f_findSommiDiamond(tf, tf2, tf3, tf4, tf5, wt1, wt2, wtCross, wtCrossUp, wtCrossDown) =>
[candleBodyDir, newBar] = f_getTFCandle(tf)
[candleBodyDir2, newBar2] = f_getTFCandle(tf2)
[candleBodyDir3, newBar3] = f_getTFCandle(tf3)
[candleBodyDir4, newBar4] = f_getTFCandle(tf4)
[candleBodyDir5, newBar5] = f_getTFCandle(tf5)

bearPattern = wt2 > soomiDiamondWTBearLevel and
wtCross and
wtCrossDown and
not candleBodyDir and
not candleBodyDir2 and
not candleBodyDir3 and
not candleBodyDir4 and
not candleBodyDir5

bullPattern = wt2 < soomiDiamondWTBullLevel and
wtCross and
wtCrossUp and
candleBodyDir and
candleBodyDir2 and
candleBodyDir3 and
candleBodyDir4 and
candleBodyDir5
[bearPattern, bullPattern]

f_findSommiDiamond_0(tf, tf2, wt1, wt2, wtCross, wtCrossUp, wtCrossDown) =>
[candleBodyDir, newBar] = f_getTFCandle(tf)
[candleBodyDir2, newBar2] = f_getTFCandle(tf2)


bearPattern = wt2 > soomiDiamondWTBearLevel and
wtCross and
wtCrossDown and
not candleBodyDir and
not candleBodyDir2

bullPattern = wt2 < soomiDiamondWTBullLevel and
wtCross and
wtCrossUp and
candleBodyDir and
candleBodyDir2

[bearPattern, bullPattern]

//RSI+MFI Area
rsiMFI = f_rsimfi(rsiMFIperiod, rsiMFIMultiplier, timeframe.period)
rsiMFIColor = rsiMFI > 0 ? #3ee145 : #ff3d2e

// Calculates WaveTrend
[wt1, wt2, wtOversold, wtOverbought, wtCross, wtCrossUp, wtCrossDown, wtCross_last, wtCrossUp_last, wtCrossDown_last, wtVwap] = f_wavetrend(wtMASource, wtChannelLen, wtAverageLen, wtMALen, timeframe.period)

// Wavetrend_0
[wt1_0, wt2_0, wtOversold_0, wtOverbought_0, wtCross_0, wtCrossUp_0, wtCrossDown_0, wtCross_last_0, wtCrossUp_last_0, wtCrossDown_last_0, wtVwap_0] = f_wavetrend(wtMASource, wtChannelLen, wtAverageLen, wtMALen, timeframe.period)

// Calculate WaveTrend 1m
[wt1_1, wt2_1, wtOversold_1, wtOverbought_1, wtCross_1, wtCrossUp_1, wtCrossDown_1, wtCross_last_1, wtCrossUp_last_1, wtCrossDown_last_1, wtVwap_1] = f_wavetrend_1m(wtMASource, wtChannelLen, wtAverageLen, wtMALen, "10")

// Sommi flag
[sommiBearish, sommiBullish, hvwap] = f_findSommiFlag(sommiVwapTF, wt1, wt2, rsiMFI, wtCross, wtCrossUp, wtCrossDown)

//Sommi diamond
[sommiBearishDiamond, sommiBullishDiamond] = f_findSommiDiamond(sommiHTCRes, sommiHTCRes2, sommiHTCRes3, sommiHTCRes4, sommiHTCRes5, wt1, wt2, wtCross, wtCrossUp, wtCrossDown)

//Sommi diamond 1m
[sommiBearishDiamond_0, sommiBullishDiamond_0] = f_findSommiDiamond_0(sommiHTCRes_0, sommiHTCRes2_0, wt1_0, wt2_0, wtCross_0, wtCrossUp_0, wtCrossDown_0)

//Sommi diamond 1m
[sommiBearishDiamond_1m, sommiBullishDiamond_1m] = f_findSommiDiamond(sommiHTCRes_1m, sommiHTCRes2_1m, sommiHTCRes3_1m, sommiHTCRes4_1m, sommiHTCRes5_1m, wt1_1, wt2_1, wtCross_1, wtCrossUp_1, wtCrossDown_1)

//test vals inside somiflag
[hwt1, hwt2, hwtOversold, hwtOverbought, hwtCross, hwtCrossUp, hwtCrossDown, hwtCrosslast, hwtCrossUplast, hwtCrossDownlast, hwtVwap] = f_wavetrend(wtMASource, wtChannelLen, wtAverageLen, wtMALen, sommiVwapTF)

//plot(rsiMFI, color = rsiMFIColor)
z = request.security(syminfo.ticker, timeframe.period, wtMASource)
y = request.security(syminfo.ticker, "1000", wtMASource)
a = hwt1 - hwt2
//plot(a, color = color.white)
//plot(wt1, color = color.red)
//plot(wt2, color = color.blue)
//plot(rsiMFI, color = color.green)
//plot(0, color = color.black, linewidth = 3)
checkBearish = ta.barssince(sommiBearishDiamond_0)
checkBullish = ta.barssince(sommiBullishDiamond_0)

sommiBearishDiamond_0 := sommiBearishDiamond_0 and (checkBearish[1] > checkBullish[1])
sommiBullishDiamond_0 := sommiBullishDiamond_0 and (checkBullish[1] > checkBearish[1])

checkBearishRing = ta.barssince(sommiBearishDiamond)
checkBullishRing = ta.barssince(sommiBullishDiamond)

sommiBearishDiamond := sommiBearishDiamond and (checkBearishRing[1] > checkBullishRing[1])
sommiBullishDiamond := sommiBullishDiamond and (checkBullishRing[1] > checkBearishRing[1])

// Sommi flag
plotshape(sommiFlagShow and sommiBearish ? 108 : na, title = 'Sommi weak bearish flag', style = shape.xcross, color = colorPink_2, location = location.abovebar, size = size.tiny)
plotshape(sommiFlagShow and sommiBullish ? -108 : na, title = 'Sommi weak bullish flag', style = shape.xcross, color = colorBluelight_2, location = location.belowbar, size = size.tiny)


// Sommi diamond
plotchar(sommiRingShow and sommiBearishDiamond ? 108 : na, title = 'Sommi bearish Ring', char='◆', color = colorYellow, location = location.abovebar, size = size.tiny)
plotchar(sommiRingShow and sommiBullishDiamond ? -108 : na, title = 'Sommi bullish Ring', char='◆', color = colorYellow, location = location.belowbar, size = size.tiny)

// Sommi diamond_0
plotchar(sommiDiamondShow and sommiBearishDiamond_0 ? 108 : na, title = 'Sommi bearish diamond', char='◆', color = colorPink, location = location.abovebar, size = size.tiny)
plotchar(sommiDiamondShow and sommiBullishDiamond_0 ? -108 : na, title = 'Sommi bullish diamond', char='◆', color = colorBluelight, location = location.belowbar, size = size.tiny)

// Sommi diamond 1min
//plotchar(sommiDiamondShow and sommiBearishDiamond_1m ? 108 : na, title = 'Sommi bearish diamond', char='◯', color = colorPink, location = location.belowbar, size = size.tiny)
//plotchar(sommiDiamondShow and sommiBullishDiamond_1m ? -108 : na, title = 'Sommi bullish diamond', char='◯', color = colorBluelight, location = location.belowbar, size = size.tiny)

// Alerts

alertcondition(sommiBullishDiamond_0, 'Sommi Bullish Diamond')


// SELL
alertcondition(sommiBearishDiamond_0, 'Sommi Bearsish Diamond')

[TeresaDee]

Thanks you. Really interesting Code! - you have some line continuation errors in it though - where you have => indicators with no value after them. What's this intended to be?

[purplemint22]

I was interested in seeing how this worked too, but I had the same problem when I tried to copy/paste the code into the pine editor. I don't know if some of the formatting changed with it was pasted on the forum. Maybe try to use the code button under the full editor?

[sman0357]

Set overlay to false.
If you copy and paste, then you will need to fix the indent issues wherever you find the continuation errors.
The indicator is from vumanchu / market cipher.