The “Reverse Wavetrend” provide users the exact price level input needed for the Wavetrend to reach a certain value (trigger crossover, zero crossover, oversold, overbought).

Wavetrend Oscillator is first published by lazy bear on Tradingview. It has become one of the most popular indicators on Tradingview. Many paid indicators on the market are built based on Wavetrend Oscillator.

Wavetrend

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 The indicator value source used here is the closing price instead of (high + low + close / 3) in the original oscillator. The reason is using one closing input makes the reverse output value more stable and less prone to changes in current price.

Reverse Wavetrend Signal Trigger line Crossover:

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Reverse Wavetrend Zero Line Crossover:

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“Overbought and Oversold Style” changes the display of the overbought and oversold price of the Wavetrend Oscillator.

Option “Line Levels” plots horizontal lines of the price when Wavetrend reaches overbought and oversold level.

Overbought Oversold Line Levels:

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Option “Bands” plots the historical running value of the price when wavetrend reaches overbought and oversold level. The user should tick off log display of the chart when they choose “Bands” option.

Overbought Oversold Bands:

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Line Levels” and “Bands” have the same current value just different displays.


“Wavetrend Cross Smoothing” enables users to smooth out the reverse wavetrend. It turns the reverse wavetrend into a close to moving average smooth filter.

Smoothed Reverse Wavetrend:

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Reverse Wavetrend Indicator Link:

BApig Indicator

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