WaveTrend Momentum Oscillator is a modification of the popular and convenient WaveTrend oscillator. WaveTrend Momentum Oscillator adds a tempo component to WaveTrend calculations to provide more accurate entry points more quickly in a trending market.
Do you prefer the original WaveTrend oscillator? WaveTrend Momentum Oscillator allows you to switch between the tempo and original versions of WT. They both provide valuable information depending on market conditions.
When the WT lines are above the overbought level and intersect below the control line, this is a good sell signal. When the WT lines are above the oversold level and intersect above the control line, this is a good buy signal. Colored circles indicate buy and sell signals. Discrepancies between the WT and the price movement may indicate an upcoming reversal.
We added sending audio, pop-up, and email messages when WaveTrend intersects during overbought (sell signal) and oversold (buy signal) conditions. The overbought and oversold levels are selected by the user. Email recipient and SMTP information must be specified in the MT4 settings before using email alerts.
- WaveTrend Type (Momentum or Original): Selecting the tempo or original WaveTrend indicator type
- Calculation period (Default=10): number of bars to calculate WaveTrend
- Averaging period (Default=21): number of bars for averaging WaveTrend
- Momentum Length (Default=4): number of bars for calculating the WaveTrend tempo
- Overbought Level (circles