Indicator · Pine Script v6 · Own pane

Oscillator Topology [WavesUnchained]

by casoon

Oscillator Topology analyzes the structural shape of a WaveTrend oscillator rather than just its price level or crossover.

View on GitHub

GitHub stars9on the repository
Pine versionv6current
Lines of code222
Settings11inputs
LicenceMIT
Last update3 days ago27 Oct 2026

Add It to Your TradingView Chart

  1. 1Copy the scriptPress Copy script above, or the copy button on the code below.
  2. 2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
  3. 3Paste over the templateCreate a new indicator, select all of the template text and paste. Press Save and give it a name.
  4. 4Add it to the chartPress Add to chart, then adjust the settings with the gear icon next to its name.

Source Code

222 lines of Pine Script v6 from indicators/momentum/oscillator_topology/oscillator_topology.pine, published under MIT. Keep the author's credit and licence lines when you reuse it.

oscillator_topology.pine
//@version=6
// ============================================================================
// Oscillator Topology [WavesUnchained]
// Version: 1.1.4
// Author: WavesUnchained
// Build: 2026-10-02 00:00:00
// ============================================================================
// Analyzes the SHAPE of oscillator movements rather than their magnitude or
// direction. Curvature, spike width, symmetry and flatness encode information
// not visible in the raw oscillator value.
//
// Key shapes:
//   V-Spike   — sharp, narrow peak/trough: aggressive reversal, high conviction
//   Round Top — broad, gradual peak: exhaustion building, reversal likely but slow
//   Flat Zone — oscillator stuck near extreme: trend death / distribution phase
//   Asymmetric — fast rise, slow fall (or vice versa): indicates hidden flow
//
// Features:
//   ✓ Curvature at pivot extremes (2nd derivative normalized by recent WT range)
//   ✓ Width of last WT peak/trough (bars spent near extreme)
//   ✓ Asymmetry index: rise speed vs fall speed at each pivot
//   ✓ Shape classification per pivot: V-Spike / Round / Flat / Asymmetric
//   ✓ Curvature plot and shape label at each classified pivot
//   ✓ Dashboard with current dominant shape and topology summary
//   ✓ Alerts: V-Spike at peak / trough
//
// ============================================================================

indicator("Oscillator Topology [WavesUnchained]", "Osc Topology [WU]", format=format.price, precision=2, overlay=false,
     max_labels_count=100)

// ─── Inputs ───────────────────────────────────────────────────────────────────

grWT    = "WaveTrend"
wtChLen = input.int(10, "Channel Length", minval=1, group=grWT)
wtAvLen = input.int(21, "Average Length", minval=1, group=grWT)

grTopo       = "Topology Settings"
pivLbL       = input.int(5,  "Pivot Left Bars",         minval=2, maxval=20, group=grTopo)
pivLbR       = input.int(5,  "Pivot Right Bars",         minval=2, maxval=20, group=grTopo)
spikeThresh  = input.float(3.0, "V-Spike Curvature Threshold",  minval=0.5, maxval=10.0, step=0.25, group=grTopo,
     tooltip="Normalized curvature above this threshold classifies the pivot as a V-Spike (sharp reversal). Lower = more sensitive.")
flatBars     = input.int(4,  "Flat Zone Min Bars",       minval=2, maxval=15, group=grTopo,
     tooltip="Minimum consecutive bars near the extreme to classify as a Flat Zone (trend death).")
flatTolerance = input.float(0.15, "Flat Zone Tolerance (fraction of pivot height)", minval=0.05, maxval=0.5, step=0.05, group=grTopo)

grD      = "Display"
showCurv = input.bool(true,  "Show Curvature Line",   group=grD)
showLbls = input.bool(true,  "Show Shape Labels",     group=grD)
showDash = input.bool(true,  "Show Dashboard",        group=grD)

// ─── WaveTrend ────────────────────────────────────────────────────────────────

_wtEsa = ta.ema(hlc3, wtChLen)
_wtD   = ta.ema(math.abs(hlc3 - _wtEsa), wtChLen)
_wtCi  = (hlc3 - _wtEsa) / (0.015 * math.max(_wtD, syminfo.mintick))
wtOsc  = ta.ema(_wtCi, wtAvLen)

// ─── Curvature ────────────────────────────────────────────────────────────────
// Second derivative of WT, normalized by recent WT range (makes it scale-free)
wtVel  = wtOsc - wtOsc[1]
wtAcc  = wtVel  - wtVel[1]
wtRange = ta.highest(wtOsc, 20) - ta.lowest(wtOsc, 20)
wtCurv  = wtRange > 0 ? wtAcc / wtRange * 100 : 0.0  // -100..+100 scaled curvature

// ─── Pivot detection ──────────────────────────────────────────────────────────

pivHigh = ta.pivothigh(wtOsc, pivLbL, pivLbR)
pivLow  = ta.pivotlow(wtOsc,  pivLbL, pivLbR)

// At a confirmed pivot, classify the shape by looking at bars around it
f_shape(isPivHigh) =>
    // Both valuewhen calls execute unconditionally so the ta.* series stay consistent
    pivValH  = ta.valuewhen(not na(ta.pivothigh(wtOsc, pivLbL, pivLbR)), wtOsc[pivLbR], 0)
    pivValL  = ta.valuewhen(not na(ta.pivotlow(wtOsc,  pivLbL, pivLbR)), wtOsc[pivLbR], 0)
    pivVal   = isPivHigh ? pivValH : pivValL
    curvAtPiv = wtCurv[pivLbR]
    absCurv   = math.abs(curvAtPiv)

    // Width = consecutive bars near the extreme (within flatTolerance × pivot height
    // above baseline): the pivot bar plus the unbroken run on each side of it
    baseline = isPivHigh ? ta.lowest(wtOsc, 30) : ta.highest(wtOsc, 30)
    pivHeight = math.abs(pivVal - baseline)
    tolerance = pivHeight * flatTolerance
    int flatCount = 1
    // right side: bars after the pivot (offsets pivLbR-1 .. 0)
    for j = 1 to pivLbR
        if math.abs(wtOsc[pivLbR - j] - pivVal) < tolerance
            flatCount += 1
        else
            break
    // left side: bars before the pivot
    for j = 1 to math.min(pivLbL + pivLbR - 1, 20)
        if math.abs(wtOsc[pivLbR + j] - pivVal) < tolerance
            flatCount += 1
        else
            break

    // Asymmetry: compare rise speed vs fall speed (approach bars vs departure bars)
    riseSpeed = pivLbL > 0 ? (pivVal - wtOsc[pivLbR + pivLbL]) / pivLbL : 0.0
    fallSpeed = pivLbR > 0 ? (pivVal - wtOsc) / pivLbR : 0.0
    asymRatio = (riseSpeed + fallSpeed) != 0 ? math.abs(riseSpeed - fallSpeed) / math.max(math.abs(riseSpeed + fallSpeed), 0.01) : 0.0

    shape = if absCurv >= spikeThresh
        "V-Spike"
    else if flatCount >= flatBars
        "Flat"
    else if asymRatio > 0.5
        "Asymm"
    else
        "Round"

    [shape, absCurv, flatCount]

[shapeH, curvH, flatH] = f_shape(true)
[shapeL, curvL, flatL] = f_shape(false)

// ─── Shape label colors ───────────────────────────────────────────────────────

f_shapeColor(s) =>
    color c = color.new(color.gray, 20)  // Round
    if s == "V-Spike"
        c := color.new(#d50000, 0)
    else if s == "Flat"
        c := color.new(#ff6f00, 0)
    else if s == "Asymm"
        c := color.new(#9c27b0, 0)
    c

// ─── Shape labels on chart ────────────────────────────────────────────────────

if showLbls
    if not na(pivHigh)
        shapeC = f_shapeColor(shapeH)
        label.new(bar_index - pivLbR, wtOsc[pivLbR] + 5, shapeH,
             color=color(na), style=label.style_none,
             textcolor=shapeC, size=size.small)
    if not na(pivLow)
        shapeC = f_shapeColor(shapeL)
        label.new(bar_index - pivLbR, wtOsc[pivLbR] - 5, shapeL,
             color=color(na), style=label.style_none,
             textcolor=shapeC, size=size.small)

// ─── Plots ────────────────────────────────────────────────────────────────────

hline(0, "Zero", color=color.new(color.gray, 50))
hline(spikeThresh,  "Spike+",  color=color.new(color.red, 60), linestyle=hline.style_dotted)
hline(-spikeThresh, "Spike-",  color=color.new(color.red, 60), linestyle=hline.style_dotted)

plot(wtOsc, "WaveTrend",  color=color.new(#26a69a, 30), linewidth=2)
plot(showCurv ? wtCurv : na, "Curvature", color=color.new(#ffd600, 30), linewidth=1)

// Pivot markers sized by curvature
plotshape(not na(pivHigh), "Peak", shape.triangledown, location.top,
     color=f_shapeColor(shapeH), size=size.tiny)
plotshape(not na(pivLow),  "Trough", shape.triangleup, location.bottom,
     color=f_shapeColor(shapeL), size=size.tiny)

// ─── Dashboard ────────────────────────────────────────────────────────────────

// Track last two shapes for summary
var string lastHighShape = "—"
var string lastLowShape  = "—"
var float  lastHighCurv  = 0.0
var float  lastLowCurv   = 0.0

if not na(pivHigh)
    lastHighShape := shapeH
    lastHighCurv  := curvH
if not na(pivLow)
    lastLowShape  := shapeL
    lastLowCurv   := curvL

color tc = color.new(color.gray, 20)
color hd = color.new(color.gray, 90)

var table t = table.new(position.top_right, 3, 5,
     bgcolor=color.new(color.white, 5),
     border_color=color.new(color.gray, 60), border_width=1,
     frame_color=color.new(color.gray, 40), frame_width=1)

if showDash and barstate.islast
    table.cell(t, 0, 0, "Osc Topology",  text_color=tc, bgcolor=hd, text_size=size.small)
    table.cell(t, 1, 0, "Shape",         text_color=tc, bgcolor=hd, text_size=size.small)
    table.cell(t, 2, 0, "|Curv|",        text_color=tc, bgcolor=hd, text_size=size.small)

    table.cell(t, 0, 1, "Last Peak",     text_color=tc, text_size=size.small)
    table.cell(t, 1, 1, lastHighShape,   text_color=f_shapeColor(lastHighShape), text_size=size.small)
    table.cell(t, 2, 1, str.tostring(lastHighCurv, "#.#"), text_color=tc, text_size=size.small)

    table.cell(t, 0, 2, "Last Trough",   text_color=tc, text_size=size.small)
    table.cell(t, 1, 2, lastLowShape,    text_color=f_shapeColor(lastLowShape),  text_size=size.small)
    table.cell(t, 2, 2, str.tostring(lastLowCurv, "#.#"),  text_color=tc, text_size=size.small)

    // Current curvature
    table.cell(t, 0, 3, "", bgcolor=color.new(color.gray, 80))
    table.cell(t, 1, 3, "", bgcolor=color.new(color.gray, 80))
    table.cell(t, 2, 3, "", bgcolor=color.new(color.gray, 80))

    string curvState = "Flat"
    color  curvC     = tc
    if math.abs(wtCurv) > spikeThresh
        curvState := "Spike forming"
        curvC     := color.new(#d50000, 0)
    else if wtCurv > 0.5
        curvState := "Accelerating ↑"
        curvC     := color.new(#00c853, 0)
    else if wtCurv < -0.5
        curvState := "Decelerating ↓"
        curvC     := color.new(#ff6f00, 0)
    table.cell(t, 0, 4, "Now",           text_color=tc,    text_size=size.small)
    table.cell(t, 1, 4, curvState,       text_color=curvC, text_size=size.small)
    table.cell(t, 2, 4, str.tostring(wtCurv, "#.#"), text_color=curvC, text_size=size.small)

// ─── Alerts ───────────────────────────────────────────────────────────────────

bool alertsOnBarClose = input.bool(true, "Alerts only on bar close (confirmed)", group="Alerts")
bool alertOk = not alertsOnBarClose or barstate.isconfirmed
alertcondition(alertOk and (not na(pivHigh) and shapeH == "V-Spike"), "V-Spike Peak",
     "OTOP · V-SPIKE PEAK SHORT · {{ticker}} {{interval}}")
alertcondition(alertOk and (not na(pivLow) and shapeL == "V-Spike"), "V-Spike Trough",
     "OTOP · V-SPIKE TROUGH LONG · {{ticker}} {{interval}}")

Overview

Oscillator Topology [WavesUnchained] evaluates curvature, peak width, asymmetry, and flatness around pivot extremes to categorize oscillator movements into V-Spikes, Round Tops, Flat Zones, or Asymmetric shapes. Drawn in a separate pane, the indicator plots a curvature line, marks identified shapes with chart labels at pivot points, and displays a summary dashboard.

Details

Published by

casoon on GitHub

Draws

Separate pane below the chart

Markets

Any symbol

Timeframes

Any timeframe

Risk Notes

No repainting, lookahead or stacked entries were found in its code or README. That says nothing about how well it works: test it first.

Topics

pine-scriptpinescripttechnical-analysistrading-indicatorstrading-strategiestradingview

Settings

The inputs you can change from the gear icon on the chart. Defaults are the author's.

SettingTypeDefaultVariable
Channel Lengthint10wtChLen
Average Lengthint21wtAvLen
Pivot Left Barsint5pivLbL
Pivot Right Barsint5pivLbR
V-Spike Curvature Thresholdfloat3.0spikeThresh
Flat Zone Min Barsint4flatBars
Flat Zone Tolerance (fraction of pivot height)float0.15flatTolerance
Show Curvature LinebooltrueshowCurv
Show Shape LabelsbooltrueshowLbls
Show DashboardbooltrueshowDash
Alerts only on bar close (confirmed)booltruealertsOnBarClose
Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.

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