WaveTrend Oscillator - Cross Statistics [Dots3Red]
🌊 WAVETREND OSCILLATOR - CROSS STATISTICS [Dots3Red]
This indicator plots the WaveTrend oscillator and measures how often its crosses were followed by a meaningful move on the current chart, separately for oversold bullish crosses, overbought bearish crosses and crosses in the neutral zone, shown as percentages with the sample size next to them.
✨ WHY THIS MATTERS
A bullish cross deep in oversold is a buy signal, a bearish cross high in overbought is a sell signal. Whether that has actually worked depends heavily on the instrument and timeframe. Strong trends can produce oversold crosses that fail one after another. This script keeps a scoreboard for each type of cross, so you can see how the signal has behaved on your chart instead of assuming it works.
⚙️ HOW IT WORKS
🌊 The oscillator — the standard WaveTrend calculation: price's distance from its own moving average, normalized by average deviation and smoothed into a fast line (WT) and a slower signal line. Overbought and oversold levels are configurable.
🔀 Four cross types tracked separately
• Oversold bullish cross — WT crosses above the signal line with the signal line at or below the oversold level
• Overbought bearish cross — WT crosses below the signal line at or above the overbought level
• Other bullish and bearish crosses — everything in between
🎯 Grading — each cross is graded from the close of the cross bar against two levels fixed at that moment:
• Worked — price moves a set ATR distance in the cross direction
• Failed — price moves a set ATR distance against it first, or the window runs out
If both happen on the same bar, it counts as failed. Only one cross of each type is graded at a time.
🔒 Non-repainting — crosses are graded and labeled on confirmed bars only.
📈 Drawn where you look — the oscillator, signal line, histogram and cross dots in the lower pane; labels with each type's measured rate on the price chart; the dashboard on the price chart.
🧭 HOW TO USE
1️⃣ Compare zone crosses with other crosses. If oversold crosses work far better than neutral ones, the overbought/oversold levels are adding real value on this chart. If they don't, they aren't.
2️⃣ Compare bullish with bearish. On trending instruments, crosses in the trend direction usually work much better.
3️⃣ Tune target and stop to your style. A larger target with a tight stop is a harder test and usually lowers the rate.
4️⃣ Let each type build a sample. Zone crosses are rarer than neutral ones and fill more slowly.
5️⃣ Use it as context, not a trigger. The rates describe how WaveTrend crosses have behaved on this chart. They do not predict the next one.
⏱️ WHICH TIMEFRAMES WORK BEST
15-minute through 4-hour gives the best balance between enough crosses to build a sample and signals that reflect real swings. Daily works on instruments with long history.
🛠️ SETTINGS
🌊 WaveTrend — channel length, average length, overbought and oversold levels
🎯 Cross Grading — ATR length, target (× ATR), stop (× ATR), max bars to resolve, minimum samples to show a rate
🎨 Visuals — WT and signal line colors and thickness, histogram and its transparency, level line color, cross dots, price chart labels (zone crosses, all crosses or off) and their colors
🖥️ Dashboard — show/hide, position
🔔 Alerts — oversold bullish cross, overbought bearish cross, any bullish cross, any bearish cross
📝 NOTES
All rates are specific to this chart, timeframe and settings, and do not transfer to other instruments or configurations.
⚠️ DISCLAIMER
This is an analytical and visualization tool. It does not generate trade signals and does not constitute financial advice. Historical statistics do not guarantee future performance.
This indicator plots the WaveTrend oscillator and measures how often its crosses were followed by a meaningful move on the current chart, separately for oversold bullish crosses, overbought bearish crosses and crosses in the neutral zone, shown as percentages with the sample size next to them.
✨ WHY THIS MATTERS
A bullish cross deep in oversold is a buy signal, a bearish cross high in overbought is a sell signal. Whether that has actually worked depends heavily on the instrument and timeframe. Strong trends can produce oversold crosses that fail one after another. This script keeps a scoreboard for each type of cross, so you can see how the signal has behaved on your chart instead of assuming it works.
⚙️ HOW IT WORKS
🌊 The oscillator — the standard WaveTrend calculation: price's distance from its own moving average, normalized by average deviation and smoothed into a fast line (WT) and a slower signal line. Overbought and oversold levels are configurable.
🔀 Four cross types tracked separately
• Oversold bullish cross — WT crosses above the signal line with the signal line at or below the oversold level
• Overbought bearish cross — WT crosses below the signal line at or above the overbought level
• Other bullish and bearish crosses — everything in between
🎯 Grading — each cross is graded from the close of the cross bar against two levels fixed at that moment:
• Worked — price moves a set ATR distance in the cross direction
• Failed — price moves a set ATR distance against it first, or the window runs out
If both happen on the same bar, it counts as failed. Only one cross of each type is graded at a time.
🔒 Non-repainting — crosses are graded and labeled on confirmed bars only.
📈 Drawn where you look — the oscillator, signal line, histogram and cross dots in the lower pane; labels with each type's measured rate on the price chart; the dashboard on the price chart.
🧭 HOW TO USE
1️⃣ Compare zone crosses with other crosses. If oversold crosses work far better than neutral ones, the overbought/oversold levels are adding real value on this chart. If they don't, they aren't.
2️⃣ Compare bullish with bearish. On trending instruments, crosses in the trend direction usually work much better.
3️⃣ Tune target and stop to your style. A larger target with a tight stop is a harder test and usually lowers the rate.
4️⃣ Let each type build a sample. Zone crosses are rarer than neutral ones and fill more slowly.
5️⃣ Use it as context, not a trigger. The rates describe how WaveTrend crosses have behaved on this chart. They do not predict the next one.
⏱️ WHICH TIMEFRAMES WORK BEST
15-minute through 4-hour gives the best balance between enough crosses to build a sample and signals that reflect real swings. Daily works on instruments with long history.
🛠️ SETTINGS
🌊 WaveTrend — channel length, average length, overbought and oversold levels
🎯 Cross Grading — ATR length, target (× ATR), stop (× ATR), max bars to resolve, minimum samples to show a rate
🎨 Visuals — WT and signal line colors and thickness, histogram and its transparency, level line color, cross dots, price chart labels (zone crosses, all crosses or off) and their colors
🖥️ Dashboard — show/hide, position
🔔 Alerts — oversold bullish cross, overbought bearish cross, any bullish cross, any bearish cross
📝 NOTES
All rates are specific to this chart, timeframe and settings, and do not transfer to other instruments or configurations.
⚠️ DISCLAIMER
This is an analytical and visualization tool. It does not generate trade signals and does not constitute financial advice. Historical statistics do not guarantee future performance.
Connect the dots to elevate your trading.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.
Connect the dots to elevate your trading.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.