This is similar to regular WaveTrend Oscillator except:
- replaces hlc3 input with a weighted log formula for better stability/performance on high volatility charts - zero-centered scaling - SMA crossovers above and below OB/OS thresholds are marked as buy/sell signals
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Use SMA curvature information to filter out buy/sell signals likely to be false positives
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Rename some chart objects
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Long/Short signal now captures some cases of bullish and bearish divergences
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Use extra signal smoothing and extra momentum check for curvature
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improve buy/sell signals
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don't make helper elements editable
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start drawing signal earlier, perform averaging on cross steps for more stable bullish/bearish divergence detection
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use a 1+2 formula for curvature
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Default to lower smoothing to still show something on the chart in the beginning
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switch back to 4 for default SMA length
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Improve sensitivity in the beginning of the chart
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add comment
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Replace final EMA smoother with Ehlers' smoother for higher sensitivity
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Ignore first candle
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reduce default smoothing slightly and allow zero smoothing
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do not count MA cross above overbought level as bottom, and likewise do not count count MA cross below oversold level as top.
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Simplify generation of buy/sell signals
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fix how continues climb/descent is determined
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detect hidden divergences
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Update colors to make this indicator suitable for either light or dark T/V color modes
This is by far one of the best wave Trend tools I've used - Thank you !
lovelycococo
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I like this yours best.
To change this indicator to the Fine 4 version
res = na
res := mult * src + (1.0-mult) * nz(res[1], src)
==> How should I change it?
breathe67
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Great tool, thank you!
ghost420
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thx for all!!
slos80
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hi, how come some signals are inside the o/s and o/b range? how do i set alerts for buy and sell signals please? which condition is that? thank you, awesome tool!
haagendazs
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@slos80, I was able to figure out the alerting for this amazing indicator, beyond just watching for the signal line crossing the SMA line.
For "Buy" signals, use this condition:
1. WT_Krypt -> Buy Signal
2. Less Than
3. WT_Krypt -> Signal
For "Sell" signals, use this condition:
1. WT_Krypt -> Sell Signal
2. Greater Than
3. WT_Krypt -> Signal
Jpdeletraz
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@haagendazs, Hey Thanks for sharing :) for the options section which one do you recommend, at bar close? or is there a better option for getting better entries.
Thank you in advance
arttus
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Great! Definitely will be adding this to my standard toolset.