Wave Cycle Channel
- Indicators
- Version: 1.0
- Activations: 10
The "Wave Cycle Channel" indicator calculates price directions using a cyclic oscillator and a support and resistance channel.
Finds turning points in price movements and identifies possible reversal points, showing in which direction the market is moving.
Can be used to determine reversal points and to find entry signals.
How the indicator works
The indicator works on any trading instruments and time frames, recommended time frames are M5 and higher.
Works without redrawing its readings, all signal arrows appear at the close of the candle.
There are several types of alerts.
The indicator will complement the trend strategy with a visual display of price behavior and the definition of potential signals.
Finds turning points in price movements and identifies possible reversal points, showing in which direction the market is moving.
Can be used to determine reversal points and to find entry signals.
How the indicator works
- The oscillator wave line adjusts to price movements, is built based on market volatility and the specified "Oscillator Period" period from the input parameters.
- A channel moves around the oscillator, smoothing the oscillator readings.
- When the oscillator touches the upper or lower boundaries of the channel, the action of the support/resistance forces is increased, as is the probability of a price reversal.
- Large arrows are drawn, red ones - a signal of an upward reversal and green ones - a signal of a downward reversal.
- If the oscillator does not touch the channel during a reversal, the action of the previously set signal continues. Small arrows are drawn.
- After all the signal arrows, the signal action points are drawn.
The indicator works on any trading instruments and time frames, recommended time frames are M5 and higher.
Works without redrawing its readings, all signal arrows appear at the close of the candle.
There are several types of alerts.
The indicator will complement the trend strategy with a visual display of price behavior and the definition of potential signals.
