The PTZ Wave indicator leverages historical price data to plot Exponential Moving Averages (EMAs) in real-time. It calculates two sets of EMAs (fast and slow) to create a series of wave plots. 1. Historical Data Analysis: The indicator utilizes historical price data to initialize EMA values, ensuring accurate wave patterns from the start. 2. EMA Calculation: It calculates the fast EMA using a specified period (default is 5). The slow EMA is then calculated from the fast EMA. This dual EMA setup helps capture short-term and long-term trends. 3. Real-Time Plotting: As new price data arrives, the indicator updates the EMA values and plots the waves in real-time, reflecting current…