This indicator calculates momentum setups based on the Relative Strength Index (RSI) and plots in a separate pane. It offers multiple scanning modes such as Continuous Break, Continuous Retracement, Flip Break, Flip Retracement, and both regular and hidden div
Indicator · Pine Script v6 · Own pane
WaveTrend Oscillator Pro [Vantrade]
WaveTrend Oscillator Pro calculates WT1 and WT2 lines derived from exponentially smoothed typical price channels and moving averages.
GitHub stars2on the repository
Pine versionv6current
Lines of code107
Settings9inputs
LicenceCustom licence
Last update2 months ago20 Aug 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
Displayed in a separate pane, it visualises momentum alongside customizable overbought and oversold bands. Crossover signals between WT1 and WT2 are filtered to trigger only when taking place inside overbought or oversold zones, filtering mid-range noise. The script also identifies regular and hidden divergences using confirmed left and right pivot points. User inputs allow adjustments to channel length, average length, zone thresholds, and divergence pivot parameters.
- Zone-filtered WT1 and WT2 crossover signals
- Regular and hidden divergence detection
- Customizable overbought and oversold threshold bands
- Confirmed pivot lookback parameters
Details
Published by
vantradelabs on GitHub
Type
Indicator, Pine Script v6
Draws
Separate pane below the chart
Category
Oscillators & momentum, Divergence
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.
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| Channel Length | int | 10 | n1 |
| Average Length | int | 21 | n2 |
| Overbought | int | 53 | obLv |
| Oversold | int | -53 | osLv |
| Extreme OB | int | 60 | ob2 |
| Extreme OS | int | -60 | os2 |
| Divergences | bool | true | showDiv |
| Pivot Left | int | 4 | pivL |
| Pivot Right | int | 4 | pivR |
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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