Simple Waves

The Simple Waves is a simple indicator that looks for market Highs and Lows.

The average price of the candle (High+Low)/2) is used to calculate the indicator values.

If the average price is greater than the previous, the High of the candle is used as the indicator value.

If the average price is less than the previous, the Low of the candle is used as the indicator value.

The indicator does not redraw and has no configurable parameters.