Blog : WaveTrend Indicator
WaveTrend
Uses channel lengths and averages to indicate overbought or oversold conditions.
| WaveTrend Inputs | |||
|---|---|---|---|
| Trend Following | Mean Reversion | ||
| Channel Length | 10 | Channel Length | 10 |
| Average Length | 21 | Average Length | 21 |
| Middle Level | 0 | Overbought Level | 53 |
| Oversold Level | -53 | ||
| WT1 | Long - Entry Trigger | Long - Exit Trigger | Short - Entry Trigger | Short - Exit Trigger |
|---|---|---|---|---|
| Trend Following | WT1 crossover WT2 | WT1 crossunder WT2 | WT1 crossunder WT2 | WT1 crossover WT2 |
| Mean Reversion | WT1 crossunder WT2 and WT1 < Oversold Level | WT1 crossover Overbought Level | WT1 crossover WT2 and WT1 > Overbought Level | WT1 crossunder Oversold Level |
| WT1 | Long - Entry Confluence | Long - Exit Confluence | Short - Entry Confluence | Short - Exit Confluence |
| Trend Following | WT1 > WT2 | WT1 < WT2 | WT1 < WT2 | WT1 > WT2 |
| Mean Reversion | WT1 < WT2 and WT1> Oversold Level | WT1 > Overbought Level | WT1 < WT2 and WT1 < Overbought Level | WT1 < Oversold Level |