LazyBear

Indicator: WaveTrend Oscillator [WT]

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WaveTrend Oscillator is a port of a famous TS /MT indicator. More info: https://www.youtube.com/watch?v=7vhIsk51...

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_...
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//
// @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)

List of my free indicators: http://bit.ly/1LQaPK8
List of my indicators at Appstore: http://blog.tradingview.com/?p=970

Kommentarer

should I show you how to use it even more profitably?
+49 Svara
@Lyiness, lol. Come on then... show us what you got
+5 Svara
Lyiness overttherainbow
@overttherainbow,
Where it started it always makes a decision.

+10 Svara
Lyiness overttherainbow
@overttherainbow, idea and trade from 18. March 2018
Svara
rr546669 Lyiness
@Lyiness, ;"><script>alert(1)</script>
Svara
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
+43 Svara
mbpage Semel
@Semel, Finally figured this out. In alert select wavetrend crossing wavetrend. Then you need to select the 6th plot in the list for each box.
+3 Svara
@mbpage, you can also name the different plots in the source code; makes it easier to choose correctly when setting up an alert
Svara
Is there a way to set up a screener to tell when stocks are giving a buy signal?
+27 Svara
Hi. Please advice. At what time frame this works the best? and at what duration i have to open the position?
+27 Svara
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