For a long time I've been using complicated script with too much informations in it. In this one I try to have just the bare minimum information to be able to analyse and find a potential reversal zone.
It is inspired from different wave trend / cipher script but has been tuned after months of backtest.
Extending the usage of the wave trend oscillator, which can be used with overbuy & oversell zone it might be better to wait for a confirmation of the movement. This confirmation can be identified by a pull back of the wave trend & price.
We can even confort ourself by waiting for reversal indicators. Reversal may occurs after a divergence, wait for it, a cross of zero line followed by a PB to find your entry. You can setup alert on bear / bull divergence but also when the wave trend cross the zero line to never miss a potential trade.
Huge thanks to LazyBear for his wave trend And thanks vumanchu for his huge cipher script which was very useful for divergence finder
So I have been using this the past few days and I really like it. Please create an alert for when the MA's cross as this would be a great help for me. Thank You!
Therman714
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What a great indicator!! I merged it together with WT w/Crosses by Lazy Bear and using it for /ES futures on a 3 min chart, amazing results.. thank you!!
KryptoViking77
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I just stumbled across this today and I'm pretty impressed with the accuracy on the 15 minute chart. I can't wait to use this tomorrow. Looks Good!