WaveTrend Oscillator [SolQuant]

The WaveTrend Oscillator [SolQuant] indicator is a multi-timeframe WaveTrend implementation that displays oscillator signals from up to four timeframes simultaneously: 1-minute, 5-minute, 15-minute, and 1-hour. It identifies overbought and oversold conditions across timeframes and highlights alignment signals when multiple timeframes agree on direction.


█ USAGE

Reading WaveTrend Signals
Each enabled timeframe displays its own WaveTrend oscillator line in the indicator panel. Overbought and oversold levels are marked with horizontal reference lines. When the WaveTrend crosses above the oversold level, it generates a bullish signal; when it crosses below the overbought level, it generates a bearish signal.

Alignment Signals
Star markers appear when multiple timeframes simultaneously reach overbought or oversold conditions. This multi-timeframe alignment indicates stronger potential turning points, as the market has reached an extreme on more than one time horizon.

Crossover Signals
Standard WT1/WT2 crossover signals are available on each timeframe. Bullish crossovers (WT1 crossing above WT2) and bearish crossovers (WT1 crossing below WT2) are marked with triangle shapes. When these crossovers occur in overbought or oversold territory, they carry more significance.

Auto-Hide Logic
To prevent chart clutter, higher timeframe oscillator lines are automatically hidden when the chart timeframe exceeds them. For example, if you are on a 15-minute chart, the 1-minute and 5-minute oscillators are hidden since their data would be meaningless at that resolution.


█ DETAILS

The WaveTrend oscillator is calculated in three steps:
1 — An EMA of the typical price (HLC3) is computed over the channel length
2 — The absolute deviation from this EMA is smoothed with another EMA
3 — The normalized difference (CI) is smoothed with an EMA of the average length to produce WT1, and a simple SMA of WT1 produces WT2

For each higher timeframe, the full calculation is performed on that timeframe's data using request.security(), then both WT1 and WT2 values are brought down to the chart timeframe.


█ SETTINGS

WaveTrend
• Channel Length: EMA period for the price channel (default: 9).
• Average Length: EMA period for final smoothing (default: 12).
• Overbought / Oversold Level: Threshold levels for signal generation.

Timeframes
• Show 1m / 5m / 15m / 1H: Toggle each timeframe's display.
• Timeframe Colors: Customizable colors for each oscillator line.

Signals
• Show Alignment Stars: Display multi-TF alignment markers.
• Show Crossovers: Display WT1/WT2 crossover triangles.


This is an oscillator-based tool and does not constitute financial advice. Overbought and oversold conditions do not guarantee reversals. Past performance does not guarantee future results.