Identify Trends and Potential Entries / Exits
The WaveTrend Oscillator is a famous oscillator originally found in MT4. The version of WaveTrend that we have included in our oscillator is an improved version of what was found in MT4. We have added the ability for it to produce standard buy & sell signals, strong buy & sell signals, divergences, and numerous other improvements.
Below you will see a photo of Origami Oscillator with only the WaveTrend, signals, and divergences enabled.
Improved WaveTrend Oscillator
Our version of the WaveTrend Oscillator has the potential to produce regular buy & sell signals as well as strong buy & sell signals. The regular signals are denoted by green and red dots, while the strong signals are denoted by green labels with a plus (+) sign and red labels with a minus (-) sign. While these signals are useful, you should mainly be following signals from Origami Algo itself, and occasionally using these for confirmation.
Below you will see numerous photos displaying each of these signals.
Strong Buy Signal
Strong Sell Signal
Regular Buy Signal
Regular Sell Signal
Divergences occur when the price of a security move opposite to an oscillator (in this case our Improved WaveTrend Oscillator) which can indicate a bullish or bearish movement that is to come. Many people use divergences as confirmation for taking trades, and some people trade strictly off divergences. In the case of our indicator, bullish divergences occur when you see a green line connecting two points, while bearish divergences occur when a red line connects two points.
Below you will see two photos displaying a bullish and bearish divergence.
You can customize which WaveTrend features you would like to see and which ones you don't want to see all within the Origami Oscillator settings menu.