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EzOscillator V5
WaveTrend is a momentum-based technical indicator used to identify potential trend reversals and confirm existing trends in markets. It is particularly useful for traders who want to catch the beginning of a new trend or ride the momentum of an existing trend. WaveTrend incorporates elements of both oscillator and trend-following indicators.
Buy signals in oversold zones and Sell signals in overbought zones indicate potential trend reversals, suggesting opportunities to enter long or short positions. However, the signals by themselves are not always accurate, so traders should use them alongside other technical analysis tools as confluence before entering a position.
Real-time, non-repainting divergences refer to discrepancies between price action and a technical indicator that do not change or "repaint" after the fact. These divergences can be used as potential trading signals, as they may indicate a possible trend reversal or continuation. Non-repainting divergences provide more reliable information for traders since they don't alter their appearance after being plotted, which ensures that the trader is basing their decisions on consistent data.
As the name would suggest, a volume histogram is a visual representation of the trading volume during a specific period. The height of each bar corresponds to the trading volume during that period. Volume helps traders analyze the market's interest and activity, as high-volume periods may suggest strong market sentiment, while low volume periods can indicate a lack of conviction or participation in the current price movement.