NELODI Trend Waves: Customizable Moving Average and Deviation Levels
Summary
NELODI Trend Waves is described as a customizable indicator that calculates standard deviations, moving averages, and additional potential support and resistance zones. Its default display shows a selected subset of levels, while input settings can expose more of the calculated lines. The colored plots are intended to present these levels on a chart; the document does not specify rules for interpreting them as entries or exits.
The description cautions that calculations across multiple time periods can consume substantial CPU resources. It also notes that the indicator limits historical calculations through a configurable history range, which can reduce loading and timeframe-switching delays. No equations, trading results, or validation are provided, so the indicator’s effectiveness and the meaning of individual levels cannot be evaluated from this description alone.
Key ideas
- The indicator combines standard deviation calculations and moving averages with potential support and resistance levels.
- Display settings control which plotted levels appear on the chart.
- Showing every available line can make the chart difficult to read.
- Multi-period calculations may use significant CPU resources.
- A configurable history range limits how much past data is calculated.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.