OPEN-SOURCE SCRIPT
WaveTrend Oscillator w/ Short/Long/Close Alerts - WIP
Updated
High TFs work best, but it works on any TF. I plan to continue releasing updates to it to improve overall form and function. Green Circles are Long Alerts, Red Circles are Short Alerts. Blue and Yellow Circles are Close Position Alerts. First Blue Circle After Red Circle would be Short Exit. First Yellow Circle After Green Circle would be Long Exit.
Original script was based on Lazybear Indicator-WaveTrend-Oscillator-WT Script. I have added and modified some code to my personal liking.
Original script was based on Lazybear Indicator-WaveTrend-Oscillator-WT Script. I have added and modified some code to my personal liking.
Release Notes
Modified Close Position alerts and Plots to try and maximize return. Release Notes
Added Long and Short visual indicators.Close Short is Blue Dots, Close Long is Yellow Dots.
Cleaned up alerts. Can easily setup alerts now.
Adjust Over Baught, and Over Sold levels to your preference.
Adjust EMA settings to your preference.
Adjust SMA Length and Offset to your preference.
Works with "Ultimate Strategy Template (Advanced Edition)" by Daveatt
This script is not trading advice nor should you use default settings. Please adjust settings to your own preference and use at your risk.
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
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