This indicator try to create a channel by summing a re-scaled and readapted sinusoidal wave form to the price mean.
The length parameter control the speed of the sinusoidal wave form, this parameter is not converted to a sine wave period for allowing a better estimation, higher length's work better but feel free to try shorter periods.
The invert parameter invert the sinusoidal wave.
Each bands represent possible return points, the higher the band the higher the probability.
Inverted sin wave exemple
The performance of the indicator is subjective to the main estimation (blue line), select the parameter that best fit the blue line to the price.
Interesting, testing to see how i can improve the correlation to price.
Good job!
k1-trd
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CosmonautCalls
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I hate you because of your code. The cleanliness makes me despise all my own code.
On a serious note : Holy shit how do you do it
alexgrover
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@CosmonautCalls, Sorry to hear that i made you hate me. Don't be fooled by the example i showed, the indicator don't really work the way it should because of the running sum. I tried to rescale a sine wave adjusted by a correlation coefficient to the price, but at the end it wasn't really practical. Also the code is quite redundant, my experience with pine wasn't good back then, i recommend you to check my more recents indicators. If you need further help pm me. Regards :)
geminiom
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why is it plotting like this?
alexgrover
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@geminiom, Because the calculation is made with a cumulative mean, so the rescaling of the sinewave have a massive amplitude.I'm working on a V2 since this indicator was made long ago.
I'm really sorry for the inconvenience.
geminiom
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@alexgrover, thanks for the reply brother,i really hope to see the next version.....this is really good.looks like polynomial regression.this is the only one in tradingview.
Good job!