WaveTrend SwipeUP Indicator - ONLY ACCESS

WaveTrend SwipeUP Indicator

The WaveTrend SwipeUP Indicator is designed to provide clear buy and sell signals based on multi-timeframe analysis and dynamic support levels. This indicator combines WaveTrend calculations on 4-hour and 8-hour timeframes with a Lips line check on the daily timeframe to generate precise trading signals.

Main Components:

• WaveTrend Calculation: Uses exponential moving average and absolute deviation to calculate the WaveTrend index (WT1) on 4-hour and 8-hour timeframes.
• Lips Line: Calculates a simple moving average (SMA) of the closing price over a period of 280 days to determine the Lips line on the daily timeframe.
• Overbought and Oversold Conditions: Checks if WT1 on 4-hour and 8-hour timeframes exceeds overbought levels (65) or falls below oversold levels (-65).
• Price Position Relative to Lips Line: Checks if the closing price is above or below the Lips line on the daily timeframe.

Trading Signals:

• Buy Signal: A green triangle appears below the bar when the indicator detects oversold conditions on both 4-hour and 8-hour timeframes, and the price is above the Lips line on the daily timeframe.
• Sell Signal: A red triangle appears above the bar when the indicator detects overbought conditions on both 4-hour and 8-hour timeframes, and the price is below the Lips line on the daily timeframe.

Multi-Timeframe Alerts:

The WaveTrend SwipeUP Indicator includes an alert condition that combines buy and sell signals based on multi-timeframe analysis. Alerts are generated when the following conditions occur:

• Buy Signal: When WT1 on 4-hour and 8-hour timeframes is below the oversold level (-65) and the closing price is above the Lips line on the daily timeframe.
• Sell Signal: When WT1 on 4-hour and 8-hour timeframes is above the overbought level (65) and the closing price is below the Lips line on the daily timeframe.

These alerts can be configured to send notifications when trading signals are generated, allowing users to monitor buy and sell opportunities in real-time.

Release Notes:

• Removal of Dynamic Support: The dynamic support feature has been removed from the indicator code.
• Addition of Trend Information: A label has been added to display whether the trend is in a "DOWNWARD TREND" or "UPWARD TREND," based on the price position relative to the Lips line of the indicator.
• Integration of ATR and Volume: The label now includes information on the Average True Range (ATR) and trading volume.

The label text is formatted as follows:

• DOWNWARD TREND / UPWARD TREND
• ATR: [ATR value]
• Volume: [Volume value]

These changes enhance the readability and utility of the indicator by providing key information on trend direction, volatility, and volume directly on the chart.