Waddah Attar Explosion [LazyBear]

This is a port of a famous MT4 indicator, as requested by user @maximus71. This indicator uses MACD/BB to track trend direction and strength. Author suggests using this indicator on 30mins.

Explanation from the indicator developer:

"Various components of the indicator are:

Dead Zone Line: Works as a filter for weak signals. Do not trade when the red or green histogram is below it.

- Red histogram shows the current down trend.
- Green histogram shows the current up trend.
- Sienna line shows the explosion in price up or down.

Signal for ENTER_BUY: All the following conditions must be met.
- Green histo is raising.
- Green histo above Explosion line.
- Explosion line raising.
- Both green histo and Explosion line above DeadZone line.

Signal for EXIT_BUY: Exit when green histo crosses below Explosion line.

Signal for ENTER_SELL: All the following conditions must be met.
- Red histo is raising.
- Red histo above Explosion line.
- Explosion line raising.
- Both red histo and Explosion line above DeadZone line.

Signal for EXIT_SELL: Exit when red histo crosses below Explosion line. "

All of the parameters are configurable via options page. You may have to tune it for your instrument.

More info:
Author note:
Video (French):

List of my other indicators:
- GDoc:
- Chart:
Master Index: List of all my indicators

Remove from Favorite Scripts Add to Favorite Scripts
// @author LazyBear 
// List of all my indicators: 
study("Waddah Attar Explosion [LazyBear]", shorttitle="WAE_LB")
sensitivity = input(150, title="Sensitivity")
fastLength=input(20, title="FastEMA Length")
slowLength=input(40, title="SlowEMA Length")
channelLength=input(20, title="BB Channel Length")
mult=input(2.0, title="BB Stdev Multiplier")
deadZone=input(20, title="No trade zone threshold")

calc_macd(source, fastLength, slowLength) =>
	fastMA = ema(source, fastLength)
	slowMA = ema(source, slowLength)
	fastMA - slowMA

calc_BBUpper(source, length, mult) => 
	basis = sma(source, length)
	dev = mult * stdev(source, length)
	basis + dev

calc_BBLower(source, length, mult) => 
	basis = sma(source, length)
	dev = mult * stdev(source, length)
	basis - dev

t1 = (calc_macd(close, fastLength, slowLength) - calc_macd(close[1], fastLength, slowLength))*sensitivity
t2 = (calc_macd(close[2], fastLength, slowLength) - calc_macd(close[3], fastLength, slowLength))*sensitivity

e1 = (calc_BBUpper(close, channelLength, mult) - calc_BBLower(close, channelLength, mult))
//e2 = (calc_BBUpper(close[1], channelLength, mult) - calc_BBLower(close[1], channelLength, mult))

trendUp = (t1 >= 0) ? t1 : 0
trendDown = (t1 < 0) ? (-1*t1) : 0

plot(trendUp, style=columns, linewidth=1, color=(trendUp<trendUp[1])?lime:green, transp=45, title="UpTrend")
plot(trendDown, style=columns, linewidth=1, color=(trendDown<trendDown[1])?orange:red, transp=45, title="DownTrend")
plot(e1, style=line, linewidth=2, color=#A0522D, title="ExplosionLine")
hline(deadZone, color=blue, linewidth=2, title="DeadZoneLine")
Lazy, could you put Guppy EMAs into one indicator please, need some easy way to add them to my charts?
It is published already.
Indicators: MMA and 3 oscillators

You may want to book mark my complete list of indicators:

Seleme LazyBear
Great, thanks
Seleme LazyBear
One thing more, could you please name plots on your inds so it's easy to use with new alert feature.
Yup, will do. Feel free to edit my existing indics, if you need help let me know.
Seleme LazyBear
I'm trying to just add numbers to the plot but it says it could not find function or function reference plot1.
Not sure what you mean by "numbers to the plot".

For naming the plots, all that is needed is "title" attribute.

For ex., see below for for an example. Notice the "title" attribute can take any any string, just remember to enclose them in quotes.

>> plot(rsi(close, 14), color=maroon, title="RSI")

Another very useful indicator. Thank you!
great indi!
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