LazyBear

Indicator: WaveTrend Oscillator [WT]

84946 94 11815
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
Remove from Favorite Scripts Add to Favorite Scripts
//
// @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)

Добрый день.Подскажите как работать на этом индикаторе.Заранее спасибо
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
+3 Reply
klappt super...
danke!
+1 Reply
Is there a way to set up a screener to tell when stocks are giving a buy signal?
+1 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
fxbips x_Maurizio
@x_Maurizio, I`ll checked the last charts and only the Wave and the RSI doesn`t work really well. I combined it with my normal strategy and know I can "only" with the wave reduce my lose trades. But I know this only from reading old charts. I will test it the next week and then I will know more.
Reply
United States
United Kingdom
India
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Priority Support Ideas Published Followers Following Private Messages Chat Sign Out