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Wave Trend Oscillator Indicator
Forex trend reversal indicator. Trend following indicator. Overbought and oversold indicator.
CATEGORIES: TREND, MT4, OSCILLATOR
Updated on: 25.11.2023
The Wave Trend Oscillator indicator for MetaTrader is a forex technical indicator built to follow the trend of the market. It oscillates as price swings between different levels of the chart.
The indicator monitors and tracks the diminishing momentum of the price for potential trend reversal. It is incorporated with a smoothing effect which makes it sensitive to price changes and crossovers of the oscillator.
The indicator also comes with exhaustion terminals otherwise known as the overbought and oversold levels where the price is most likely to reverse. This helps you to anticipate trading setup as price approaches those levels.
The Wave Trend Oscillator indicator is fit for scalping, day, and swing trading. Furthermore, it would come in handy for both novice and experienced traders in providing a tradable point of market interest.
Furthermore, the indicator is also efficient in identifying the presence of divergence for trading divergence setups. This is possible because the indicator sits on a separate window from the main chart.
Wave Trend Oscillator Indicator BUY/SELL Signals
The above picture shows the Wave Trend Oscillator indicator on a EUR/USD chart. The indicator has two terminals (overbought and oversold) to gauge the extremes of the market.
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