TREND 123

### TREND - Wave Trend Oscillator (Optimized)

This indicator is an optimized version of the classic Wave Trend Oscillator, a powerful tool for identifying market momentum, overbought/oversold conditions, and potential trend shifts. Built on the foundational work of LazyBear, this script has been refined for clarity and enhanced with key features to provide a more comprehensive trading view.

#### Key Features and Functionality

The indicator plots two primary lines, WT1 (Wave Trend 1) and WT2 (Wave Trend 2), in a separate pane below the price chart.

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Momentum and Trend Identification:

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WT1 (Blue Line): Represents the faster-moving component, reflecting immediate market momentum.

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WT2 (Orange Line): Acts as a signal line, a smoothed version of WT1.

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Crossovers: A cross of WT1 above WT2 is typically interpreted as a bullish signal, while a cross below WT2 suggests a bearish signal.

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Overbought and Oversold Zones:

The script includes four configurable horizontal lines to define critical zones: two for ,
Overbought (e.g., +60 and +53) and two for Oversold (e.g., -60 and -53).

When the WT lines enter the Overbought zone, it signals that the asset may be due for a pullback. Conversely, entering the Oversold zone suggests a potential bounce.,

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Sensitivity Control:

A unique ,
Sensitivity Factor input allows users to fine-tune the oscillator's responsiveness to price changes. A lower factor makes the indicator more sensitive, while a higher factor provides smoother, less volatile readings.

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Visual Enhancements (Configurable):

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Histogram: An optional histogram plots the difference between WT1 and WT2. This visual aid helps gauge the strength of the current momentum—the larger the bar, the stronger the trend in that direction.

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Information Table: An optional, dynamic table is displayed on the chart, providing a quick, real-time summary of the indicator's status, including:

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Current State: Neutral, Overbought (), or Oversold ().

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Trend: Bullish () or Bearish (), based on the WT1/WT2 crossover.

The current values of WT1 and WT2.,

#### How to Use It

This indicator is best used as a confirmation tool alongside price action or other trend-following indicators.