often. Its calculation is based on two exponential moving averages: Wave_Period the main (or fast) line; Avg_Period signal line (slow). To open a trade, you need either a repeated signal in the critical zone, or confirmation from additional indicators. Strategy on the basis of TrendWave. Signals of TrendWave need to be confirmed with additional indicators.
The Wave Trend Forex indicator cannot be considered base for creation of stable trade system.
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Setting the Wav_Period parameter (by default 10) depends on the volatility of the trading asset and timeframe; The increase in the parameter requires a longer period for analysis. Leading signals appear before the real turn, but, as a rule, the first signal should be perceived only as a warning about a possible reversal. In this case, there are more trading signals on the indicator lines, but the confidence in them is decreasing. Closing transactions can be after the appearance of an appropriate signal on the border of the bands. For assessment of overbought/oversold zones, it is proposed to establish four levels, two on each side of the zero line. We open the transaction on the following bar. Unfortunately, the TrendWave indicator is redrawn, and at sharp price throws (with the High/Low updating the signal point can just disappear. Several practical remarks, trendWave Indicator is a non-standard version of the oscillator based on moving averages and the test of critical price zones. Advantages of trading with this indicator: Reliable determination(definition) of the periods of a flat; Anticipated signals of a turn; A possibility of an input at the beginning of a new trend. In addition to the color scheme, you can configure options for notification of the appearance of trading signals sound (Sound Alert) or by E-mail (Email Alert). The second parameter is also called the averaging settings. Externally, the indicator resembles the classic Stochastic, but in it other mathematics is used.