by 
Asymmetrical RSI is an indicator that computes a custom relative strength index from the rate of change of a user-selected source. It plots the resulting ARSI line in a separate pane with color coding that turns green above the overbought level and red below t
Indicator · Pine Script v4 · Own pane
WaveTrend [LazyBear]
This indicator calculates LazyBear's WaveTrend oscillator to identify overbought and oversold market conditions.
GitHub stars2on the repository
Pine versionv4older, still runs
Lines of code42
Settings0inputs
LicenceNone stated
Last update7 months ago5 Mar 2026
Add It to Your TradingView Chart
- 1Copy the scriptPress Copy script above. It reads the file straight from GitHub.
- 2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
- 3Paste over the templateCreate a new indicator, select all of the template text and paste. Press Save and give it a name.
- 4Add it to the chartPress Add to chart, then adjust the settings with the gear icon next to its name.
Source Code
The code stays on GitHub. The author has not published this script under an open licence, so ForexR does not show its code. Copy script reads the file straight from GitHub into your clipboard, so you can still try it on your own chart. Ask the author before reusing the code anywhere else.
Overview
WaveTrend [LazyBear] computes an exponential moving average channel on typical price (HLC3) to generate the primary oscillator line and a 4-period simple moving average signal line. The script plots both lines, an oscillator difference histogram, overbought levels at 53 and 60, oversold levels at -53 and -60, and colored crossover circles in a separate pane. Parameter lengths are hardcoded without external user inputs.
- WaveTrend dual-oscillator calculation
- Overbought and oversold reference threshold lines
- Oscillator difference area visualization
- Crossover marker circles on signal line turns
- Alert conditions for bullish and bearish oscillator states
Details
Published by
avatar-lavventura on GitHub
Type
Indicator, Pine Script v4
Draws
Separate pane below the chart
Category
Oscillators & momentum
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.
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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