- DarkLight
WaveTrend with Crosses
- DarkLight
WaveTrend with Crosses is an enhanced WaveTrend (WT) oscillator that additionally highlights sell and buy points on the chart.
WT = (10 * EMA((High + Low + 2Close)/4) - 21 * EMA((High + Low + 2Close)/4)) / sqrt(2 * 30 * Var((High + Low + 2*Close)/4))
where:
EMA – Exponential Moving Average
![Relative Volatility Index](http://cdn.document360.io/50ec49af-63d7-47b5-a626-625abdd7cece/Images/Documentation/Wave_trend_with_crosses.png)
INPUTS
Input | Description |
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ChannelLength | The number of bars used to calculate both WaveTrend1 and WaveTrend2 plots |
AverageLength | The number of bars used to calculate EMA that is applied to the WaveTrend1 and WaveTrend2 plots |
OverBoughtLevel1 | The price to fix the overbought level at |
OverBoughtLevel2 | The price to fix the signal line for the overbought level |
OverSoldLevel1 | The price to fix the oversold level at |
OverSoldLevel2 | The price to fix the signal line for the oversold level |
PLOTS
The plot renders the data you are working with on the chart. You can show/hide a plot by clicking the corresponding item in the settings. Every plot has a set of basic settings that you can change: color, weight, and type.
Plot | Description |
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Zero | The zero level |
OverBought Level1 | The overbought level |
OverBoughtLevel2 | The signal level for the overbought level |
OverSoldLevel1 | The oversold level |
OverSoldLevel2 | The signal level for the oversold level |
WaveTrend1 | The plot going through the high prices |
WaveTrend2 | The plot indicating the low prices |
WaveDifference | The plot that visualizes the difference between WaveTrend1 and WaveTrend2 |
Crosses1 | Showing the potential buy points where WaveTrend1 crosses above WaveTrend2 |
Crosses2 | Showing the potential sell points where WaveTrend1 crosses below WaveTrend2 |
Candles1 | Highlights the candles on the chart where WaveTrend1 crosses above WaveTrend2 |
Candles2 | Highlights the candles on the chart where WaveTrend1 crosses below WaveTrend2 |
Color |
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Click the color rectangle under the plot's name to open the palette. Use the slider at the bottom to set the opacity of the color. ![]() To create a custom color:
The custom-created colors are added to your palette. To remove a custom color, drag it out of the palette. |
Weight |
Change the value (in px) to adjust the thickness of the plot. |
Type |
The following plot types are available:
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OVERLAYING
Check Overlaying to display the indicator on the chart. Otherwise, the indicator is shown in a study pane down below.