WaveTrend Momentum (Expo)

WaveTrend Momentum (Expo) is a fast-moving, sensitive oscillator with a momentum layer that reacts quickly to price changes. The indicator displays how strong the current price move is and where momentum starts and stalls. The indicator has inbuilt suggested exit points.

• The height of the histogram represents how strong the current price move is.
  
• The momentum is visualized with bold circles- and darker histogram colors.
  
• The suggested exit point is visualized with a circle.
  

DIVERGENCES
All types of momentum oscillator indicators produce divergences and so does WaveTrend Momentum (Expo). Divergences occur when the oscillator deviates from the trending price action. Bullish divergence is then when the trending price makes a lower low but the oscillator makes a higher low. Bearish divergence is then when the trending price makes a higher high but the oscillator makes a lower high.

• The indicator can be used standalone or as a part of your current trading strategy.
  

HOW TO USE

1. Use the indicator to identify potential turning points.
2. Use the indicator to identify where momentum starts and stalls.
3. Use the indicator to identify the direction of the trend.
4. Use the indicator to find divergences.
5. Use the indicator to identify potential exits.



INDICATOR IN ACTION

Weekly chart

• Works on any market
  

I hope you find this indicator useful, and please comment or contact me if you like the script or have any questions/suggestions for future improvements. Thanks!

I will continually work on this indicator, so please share your experience and feedback as it will enable me to make even better improvements. Thanks to everyone that has already contacted me regarding my scripts. Your feedback is valuable for future developments!


ACCESS THE INDICATOR

• Contact me on TradingView or use the links below


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Disclaimer

Copyright by Zeiierman.

The information contained in my scripts/indicators/ideas does not constitute financial advice or a solicitation to buy or sell any securities of any type. I will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from the use of or reliance on such information.

All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, or individual’s trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs.


My scripts/indicators/ideas are only for educational purposes!

Release Notes:

Major Improvements!

• Top/Bottom signals are added. These can also be seen as "Take profit areas". If a signal occurs and the market shows no sign of reversal, that signal should be seen as an impulse.
  

Best

Release Notes:

Improvements!

• Alerts Added!
  

Release Notes:

Improvements!

• Optimization of the input settings layout
  
• Improved momentum performances
  
• Fast Trend can be enabled
  

Release Notes:

Improvements!

• Real-Time Divergence with alerts Added
  
• Momentum alerts Added
  

Release Notes:

Improvements!

• New design of the oscillator. It's now easier to use and understand the indicator
  
• Trend Strength line added. Get the overall market trend in a blink of an eye
  
• Retracement feature added. Get accurate retracement entries
  
• Performance improvements
  
• Tooltip added
  

Release Notes:

Improvements!

• Enhanced retracement feature
  

Release Notes:

Improvements!

• Improved Trend Strength Feature
  

Release Notes:

Improvements!

• Performance Improvements
  
• Alerts Added
  

Release Notes:

Improvements!

• Real-time and non-repainting regular and hidden divergences added.
  
• Divergence alerts added.
  

Release Notes:

Improvements!

• Extreme areas added
  

Release Notes:

Improvements!

• Impulse signals added
  
• Trend continuation alerts added
  

Release Notes:

Improvements!

• Higher timeframe trend added.
  

Release Notes:

Improvements!

• Minor fix
  

Release Notes:

Improvements!

• Improved higher timeframe calculation
  

Release Notes:

Improvements! Version 2.7

• Take Profit / Reversal Alerts Added
  

Release Notes:

Improvements! Version 2.8

• Improved computing performance
  
• Confirmed divergences added
  
• Alerts added
  

Release Notes:

Improvements!

• Minor fix
  

Release Notes:

Improvements!

• Minor changes for efficiency.
  

Release Notes:

Improvements!

• Performance Improvements
  
• Custom trend strength length added
  
• Structure trend added
  

Release Notes:

Improvements!

• Scale fix