WaveTrend Oscilator
- インディケータ
- Ibrahim Kisioglu
- バージョン: 1.0
Wavetrend Oscillator
Indicator — Version 1.0
The Wavetrend Oscillator is a momentum-based technical analysis tool. It is designed to highlight potential momentum shifts, areas that may be overbought or oversold, and the prevailing bias when confirmed by a higher timeframe filter.
How it works
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WT1 and WT2 Lines: Crossovers between these lines are used to indicate changes in momentum.
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WT1 crossing above WT2 suggests bullish conditions.
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WT1 crossing below WT2 suggests bearish conditions.
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WT3 Higher Timeframe Filter (Histogram):
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Positive values indicate higher timeframe upward bias.
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Negative values indicate higher timeframe downward bias.
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Overbought and Oversold Zones:
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Readings above +50 indicate potential overbought conditions.
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Readings below –50 indicate potential oversold conditions.
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Inputs
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Higher_TF: Defines the timeframe for the histogram filter (default: H4).
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Channel_Length / Average_Length: Adjusts the sensitivity of the oscillator.
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Signal_Length: Controls responsiveness of the signal line.
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Overbought / Oversold Levels: User-defined thresholds for highlighting extreme conditions.
Usage Notes
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The indicator can be applied to different instruments and timeframes.
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Crossovers aligned with the higher timeframe filter provide stronger confirmation than standalone signals.
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Default settings can be adjusted according to the instrument and trading style.
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This indicator is intended for technical analysis and does not guarantee trading results.
