Trend Wave Indicator
Platform: MT4 Type: Trend Last update: September 22, 2024The Trend Wave indicator for MT4 is a custom forex oscillator. The formula behind that gauge uses the combination of price, exponential, and simple moving averages.
It usually works great at catching accurately short-term price reversals during the ongoing trending market. The bullish and bearish crossovers of the main and signal lines can be used as buy/sell signals (blue and yellow dot).
Another way to use the Trend Wave forex indicator is taking advantage of the recognition of market overbought (when the oscillator exceeds the 60 level) and oversold (when the oscillator drops below the -60 level) levels.
