LazyBear

Indicator: WaveTrend Oscillator [WT]

WaveTrend Oscillator is a port of a famous TS/MT indicator. More info: https://www.youtube.com/watch?v=7vhIsk51_Ro

When the oscillator is above the overbought band (red lines) and crosses down the signal (dotted line), it is usually a good SELL signal. Similarly, when the oscillator crosses above the signal when below the Oversold band (green lines), it is a good BUY signal.

I have marked some cross-overs in the above chart. As you can see, they are *not* the only useful signals WT generates. Try it on your instrument and let me know what you think.

---- How to import / use custom indicators from this chart (PDF) ----
https://drive.google.com/file/d/0Bx48Du_2aPFncUhIemNrZUY1dTA/edit?usp=sharing
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//
// @author LazyBear
//
// If you use this code in its original/modified form, do drop me a note. 
//
study(title="WaveTrend [LazyBear]", shorttitle="WT_LB")
n1 = input(10, "Channel Length")
n2 = input(21, "Average Length")
obLevel1 = input(60, "Over Bought Level 1")
obLevel2 = input(53, "Over Bought Level 2")
osLevel1 = input(-60, "Over Sold Level 1")
osLevel2 = input(-53, "Over Sold Level 2")
 
ap = hlc3 
esa = ema(ap, n1)
d = ema(abs(ap - esa), n1)
ci = (ap - esa) / (0.015 * d)
tci = ema(ci, n2)
 
wt1 = tci
wt2 = sma(wt1,4)

plot(0, color=gray)
plot(obLevel1, color=red)
plot(osLevel1, color=green)
plot(obLevel2, color=red, style=3)
plot(osLevel2, color=green, style=3)

plot(wt1, color=green)
plot(wt2, color=red, style=3)
plot(wt1-wt2, color=blue, style=area, transp=80)

гонял вялого)
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Добрый день.Подскажите как работать на этом индикаторе.Заранее спасибо
+1 Reply
Hi. How can I make tradeview alert me when,say, EURUSD crosses wavetrend top-down dots lines? What should I set in alert window?

Thank you
+17 Reply
klappt super...
danke!
+1 Reply
Is there a way to set up a screener to tell when stocks are giving a buy signal?
+4 Reply
For a lazy bear this is brilliant! Thank you dude!
Reply
Really cool indicator, thanks. I am new at tradingview. How can I set an alarm for it. So if it cross the red or green line. So I know how to setup an alarm for a value but an alarm for the lines of the indicator would great. Thanks
Reply
I don't know if you are still active.. I mixed your WT and simple RSI, optimized on SPX-15min to get 83% effective long/short strategy (tested with small money from oct. 2016 to jan. 2016)
Well done to you (and to me) :-D
Reply
fxbips x_Maurizio
@x_Maurizio, I tested it just the last two days and I think RSI and WT is better then only WT. I only check the WT if the RSI is crossed (70 or 30).
Reply
@fxbips, ;-) did you tested other TF or Symbol?
Reply
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