fskrypt

WaveTrend Oscillator [Krypt]

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This is similar to regular WaveTrend Oscillator except:

- replaces hlc3 input with a weighted log formula for better stability/performance on high volatility charts
- zero-centered scaling
- SMA crossovers above and below OB/OS thresholds are marked as buy/sell signals
Release Notes: Use SMA curvature information to filter out buy/sell signals likely to be false positives
Release Notes: Rename some chart objects
Release Notes: Long/Short signal now captures some cases of bullish and bearish divergences
Release Notes: Use extra signal smoothing and extra momentum check for curvature
Release Notes: improve buy/sell signals
Release Notes: don't make helper elements editable
Release Notes: start drawing signal earlier, perform averaging on cross steps for more stable bullish/bearish divergence detection
Release Notes: use a 1+2 formula for curvature
Release Notes: Default to lower smoothing to still show something on the chart in the beginning
Release Notes: switch back to 4 for default SMA length
Release Notes: Improve sensitivity in the beginning of the chart
Release Notes: add comment
Release Notes: Replace final EMA smoother with Ehlers' smoother for higher sensitivity
Release Notes: Ignore first candle
Release Notes: reduce default smoothing slightly and allow zero smoothing
Release Notes: do not count MA cross above overbought level as bottom, and likewise do not count count MA cross below oversold level as top.
Release Notes: Simplify generation of buy/sell signals
Release Notes: fix how continues climb/descent is determined
Release Notes: detect hidden divergences
Release Notes: Update colors to make this indicator suitable for either light or dark T/V color modes
Release Notes: quantitatively weigh bullish and bearish signals
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Great! Definitely will be adding this to my standard toolset.
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This is by far one of the best wave Trend tools I've used - Thank you !
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What would be the best way to set up an alert for when the overbought level is reached and/or the cross occurs?
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Hi, is there a way for me to test this as a buy/sell strategy instead of as a study? Very interested! Have been trying but having problems closing the positions. Thanks!
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This is great! Thank you.
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good!! Thanks!
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thanks a lot for sharing, it was very helpful.I am looking forward to use this in the near future when the market goes back to "normal".
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Wow, this is exactly what I was looking for. If you're ever so inclined, I'd be really interested to have a version of this script that allows backtesting...or I better start learning to code myself :)
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Looks awesome! Thank you. Any idea how to get this in Coinigy? They utilize TradingView charting, after all. Or, if not, what would be the closest WaveTrend Oscillator to yours?


Thanks!
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fskrypt El-Miguel
@El-Miguel, You have to send them the code and they will add it themselves (if they like it). Coinigy doesn't currently support user-created scripts.
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