QuantTherapy

APEX - WaveTrend [v1]

WaveTrend is a smoothed oscillator which enables it to detect true reversals in an extremely accurate manner. The beauty of this indicator is that does not generate signals during choppy sideways markets.

The basic settings are 10 / 3 / 4 these are very aggressive settings, that will generate a lot of signals in all even not so volatile markets. If you need high-quality signals you settings close to 10 / 3 /21. The strongest buy/sell signals are given when the cross occurs above or below the threshold. In the 10 / 3 / 4 you threshold for buy should be around -90 values. If you use the very smoothed variant the threshold will be around -45 to -50 values.

This indicator will be first available in APEX v1 currently being beta tested.
Release Notes: Added MTF and fixed Syntax
Release Notes: ups :) forgot something
Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

Want to use this script on a chart?
https://www.tradingview.com/u/QuantTherapy/#published-scripts

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