WaveTrend [LazyBear] vX by DGT

DGT interpreted version of LazyBear's WaveTrend, visualizing on Price Chart

Original Author : LazyBear

Crosses above or below threshold are emphasized with bigger labels
- crosses above threshold : probable short indications with a bigger label and relativly small label for probable long indications
- crosses below threshold : probable long indications with a bigger label and relativly small label for probable short indications
All rest crosses within threshold boundaries with relatively small labels for both long and short probable indications

릴리즈 노트: small update : alert condition added
오픈 소스 스크립트

진정한 TradingView의 정신에 따라, 이 스크립트의 작성자는 스크립트를 오픈소스로 게시했기에 거래자들이 이해하고 확인할 수 있습니다. 작가님께 건배! 스크립트를 무료로 사용할 수 있지만, 게시물에서 이 코드를 재사용하는 것은 하우스룰을 따릅니다. 당신은 스크립트를 차트에 사용하기 위해 그것을 즐겨찾기 할 수 있습니다.

차트에 이 스크립트를 사용하시겠습니까?


@dgtrd thank you for your work! It is amazing. Can you tell me if you tested this with Heikin Ashi candles? And if yes, what opinion do you have?
dgtrd wojtek85CH
@wojtek85CH, thank you

No i haven't tested with Heikin Ashi candles and calculation wise the study uses standard candles
Had this script as a strategy for a while and been using it actively in an algo. I have changed mine a bit differently using DCA in oversold/bought areas.
If You plot it into an oscillator and mark oversold/bought areas your exit point could be when the oscillator moves onto neutral territory.

I found out lower timeframes gives way better signals. HTF signals could have swings in them > 10-30% moves
dgtrd RwTrades
hello @RwTrades, as you probaly know the original author is LazyBear of WaveTrend study, and my intention was to keep its logic and only chage the display on top of the price chart.So i did not considered to do further changes but your comment is worth trying and if you had used with succes in algo than even better.

btw, just not to get you wrong, what you meant by DCA exactly

In algo, I was assuming the EWO-S, they provides almost same signals simultaneously


Dollar-Cost average which is extremely hard to backtest on tradingview and has to be calculated on each instrument.
Also, my bad - I had lazy bears study as well and changed that one a bit.
Please disregard all the other crosses - had to save some alerts so the same one can be used to long/short exit at the same time.

for example -
Many thanks, very interesting. I increased the size of the labels as I felt they were a little lost in the chart.

For the Strong labels: size=size.normal
And the standard labels: size=size.small

I use the LazyBear Wavetrend and find it very useful, so thanks again for your take. I'm just wondering if I can include your strong indicator flags/labels in the original Wavetrend....hmmm
dgtrd gestevens67
@gestevens67, thank you and thank you for your interes in the study

usually i avoid making the labels big so they do not make the chart too messy expecially when other indicators are included as well

unfortunetly, due to pine limitation you can not add labels to the original one. pine is not supporting lables, lines etc to be ploted on top of the price (main) chart if the study is performed to be displied on different pane. the only possibility available with this version of pine is to be able to change the bar colors. so you may modify the original version but insted labels you may use barcolor to change the colors of the bars. for stong and week ones you may decide to use different colors. hope this helps

Hi how do I access this many thankz
dgtrd galtyboi12
hello @galtyboi12, just above this comment in the upper right corner of the code section you may click "Add to Favorite Scripts" than from indicators section you may add it to your chart.
hope you enjoy trading with
@dgtrd, thank you will let you know how I get on
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