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WaveTrend Signal V2

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This is a very basic Wave Trend Oscillator. It is based on the excellent VuManChu Cipher B indicator. It uses two wave trend lines.

WT crosses are significant events. Zero-line crosses are highlighted with either Green or Red triangles and signify trend direction changes.

WT crosses either above 60 or below -60 signify the current trend may be losing momentum.

I recommend changing the source to something smoother, such as a moving average or your favorite smoothing indicator happens to be. This will filter out a lot of false signals and make the WT crosses more meaningful! Happy trading!!
Notes de version
Changed the name of the indicator to WaveTrend Signal V2
Notes de version
Added visual aids to the chart. Showing longs, shorts, and take-profit points.

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