OPEN-SOURCE SCRIPT
Stochastic Weighted Moving Averages [DW]
Updated
This is an experimental study derived from George Lane's Stochastic Oscillator.
The %KWMA is calculated by taking a moving average of source with a %K weighting factor over its specified period.
The %DWMA is calculated by taking a simple moving average of %KWMA over its specified period.
Custom bar color scheme included.
The %KWMA is calculated by taking a moving average of source with a %K weighting factor over its specified period.
The %DWMA is calculated by taking a simple moving average of %KWMA over its specified period.
Custom bar color scheme included.
Release Notes
Update:Fixed an issue with bar colors delivering false signals. Updated color scheme highlights coherent and divergent price activity.
Updated color scheme on individual moving averages to reflect average direction.
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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wallanalytics.com/
Reach out on Telegram:
t.me/DonovanWall
Disclaimer
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