WaveTrend Oscillator with Signals Indicator for ThinkorSwim

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diazlaz

Active member
VIP
Warehouse
I was just commenting about how the lower actual study when watching it was not doing well and showing the false signals so watching the upper study arrows without watching the whole study is like flying blind for a while at least with this study which I do not know very well yet or if ever ..that is all thanks for the info
I will share an approach on how to trade this when I get back from my travels. it's actually pretty good for intra day trading.
 
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Lambert58

New member
Warehouse
The Wave Trend Oscillator is a great tool. Is there a scan to identify when the Wt2_1 red dot first goes under the Wt1_1 line?
 
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hashy

New member
I will share an approach on how to trade this when I get back from my travels. it's actually pretty good for intra day trading.
Still traveling? :) Curious to hear more about this. Thanks
 
blakecmathis

blakecmathis

Active member
Warehouse
@hashy I use the WTO day in and day out strictly trading ES. If you wanna see how it is utilized in my setup check out this thread man.
 
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hashy

New member
@hashy I use the WTO day in and day out strictly trading ES. If you wanna see how it is utilized in my setup check out this thread man.
Thanks man. I've actually been lurking in your thread already lol. Good stuff man
 
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dolomick

Member
I have been using the following as an upper study and turning off everything but the arrows. The spacing is a little wonky though, obviously because it is a lower study. Can someone help get this as an upper study that only shows the arrows please? It will save space on my charts and others using Blake Mathis's setup.

Thanks!
 
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horserider

Well-known member
VIP
Warehouse
@dolomick

Code:
#WT_LB Short Name TV

input Channel_Length = 10; #10
input Average_Length = 21; #10
input over_bought_1 = 60;
input over_bought_2 = 53;
input over_sold_1 = -60;
input over_sold_2 = -53;
input show_bubbles = yes;
input show_sec_bbls = no;
input show_alerts = yes;
def ap = hlc3;
def esa = ExpAverage(ap, Channel_Length);
def d = ExpAverage(AbsValue(ap - esa), Channel_Length);
def ci = (ap - esa) / (0.015 * d);
def tci = ExpAverage(ci, Average_Length);
def wt1 = tci;
def wt2 = SimpleMovingAvg(wt1, 4);
#def zero = 0;
plot zero = 0;
zero.SetDefaultColor( Color.GRAY );
zero.Hide();
plot obLevel1 = over_bought_1;
obLevel1.SetDefaultColor(Color.RED);
obLevel1.Hide();
plot osLevel1 = over_sold_1;
osLevel1.SetDefaultColor(Color.GREEN);
osLevel1.Hide();
plot obLevel2 = over_bought_2;
obLevel2.SetDefaultColor(Color.RED);
obLevel2.SetStyle(Curve.SHORT_DASH);
obLevel2.Hide();
plot osLevel2 = over_sold_2;
osLevel2.SetDefaultColor(Color.GREEN);
osLevel2.SetStyle(Curve.SHORT_DASH);
osLevel2.Hide();

plot wt1_1 = wt1;
wt1_1.SetDefaultColor(Color.GREEN);
 wt1_1.Hide();
plot wt2_1 = wt2;
wt2_1.SetDefaultColor(Color.RED);
wt2_1.SetStyle(Curve.POINTS);
 wt2_1.Hide();
plot wt3 = (wt1 - wt2);
wt3.SetDefaultColor(Color.BLUE);
wt3.SetPaintingStrategy(PaintingStrategy.HISTOGRAM);
 wt3.Hide();
def signal1 = wt1 crosses above wt2 and wt1 < over_sold_2;
plot Signal = if signal1 then (signal1 * over_sold_2) else Double.NaN;
Signal.SetDefaultColor(Color.GREEN);
Signal.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_UP);
Signal.SetLineWeight(3);
Signal.HideTitle();
def signal2 = wt1 crosses below wt2 and wt1 > over_bought_2;
plot Signal2_ = if signal2 then (signal2 * over_bought_2) else Double.NaN;
Signal2_.SetDefaultColor(Color.RED);
Signal2_.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_DOWN);
Signal2_.SetLineWeight(3);
Signal2_.HideTitle();
 
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dolomick

Member
Did I just need to remove the lower study declaration? I tried declaring it an upper study but that didn't work? Thanks so much!!!
 
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horserider

Well-known member
VIP
Warehouse
Yes remove " declare lower" and it should default to an upper study. "declare upper" should work. I hide all the plots so none show up on the upper study. Somtimes they will give you vertical lines. Also changed the "arrow up/down" to " boolean arrow up/down".
 

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