This is an OnChart WaveTrend Divergence Indicator with Pivots and Alerts
LazyBears WaveTrend Indicator or also known as "Market Cipher" is an Indicator that is based on Moving Averages, therefore its an "lagging indicator". Lagging indicators are best used in combination with leading indicators. In this script the "leading indicator" component are Daily, Weekly or Monthly Pivots. These Pivots can be used as dynamic Support and Resistance, Stoploss, Take Profit etc. This indicator combination is best used in larger timeframes. For lower timeframes you might need to change settings to your liking.
What are those circles? -These are the WaveTrend Divergences. Red for Regular-Bearish. Orange for Hidden-Bearish. Green for Regular-Bullish. Aqua for Hidden-Bullish.
Please keep in mind that this indicator is a tool and not a strategy, do not blindly trade signals, do your own research first! Use this indicator in conjunction with other indicators to get multiple confirmations.
Thank you for the great work. Also, what kind of settings might be good for lower timeframes below 15 m?
Artem-Ra
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спасибо
PanguTrading
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@Artem-Ra, Hey Aredem, me and my friends have developed one... It's Market Vision Algo.
I have granted you the access of 1 week free trial, to use and check it. If you like that, you can buy it after the trial or else no need.
We are also giving cat bot [which automates the trades] to the lifetime buyers. Text me back if you like it or I won't disturb you back.
SonicTheHedgeTrader
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You are amazing! Hehehehehhe Thank you stranger
thabeger
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Can someone edit the code to put price on each pivot point?
thabeger
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@AdonisWerther THIS IS BY FAR THE BEST PIVOT INDICATOR ON TV! Question: The S4, S5 sane with R4, R5 are now showing on lower time frames for the Fibonacci which seems to be the most accurate! Anyway to fix this?