WaveTrend Divergence Suite puts five oscillators in one subwindow on MT4 and MT5, finds divergences on three of them, and grades its signals into four tiers.
What's in the window
WaveTrend, two waves plus a faster third. The pair is the main event: a channel-length smoothing of the deviation from a moving average, then an average of that, then a short MA of the result. Where the two cross is where everything else hangs off.
MFI as the thick green band, drawn as an area around the zero line rather than on its own scale, so you read it as pressure rather than as a number.
RSI in purple, Stochastic RSI as the K and D pair in cyan and violet, and a Schaff Trend Cycle line that ships switched off.
All eight plotted series are real buffers, so iCustom gets you every one of them.
Four tiers of signal, and they are not equal
This is the part worth understanding, because the chart looks busy until you know which mark is which.
A cross mark is drawn wherever the two WaveTrend waves cross. That's it. No filter, no location requirement. It's the raw event and it happens often.
A buy or sell arrow needs the cross and the wave to be beyond an overbought or oversold level. Sell arrows above, buy arrows below. This is the tier the alerts are wired to.
A divergence star comes from fractal detection on the oscillator against price: a higher high in price against a lower high in the wave, or the mirror. Regular divergences are on by default; hidden ones are available and off. There are two sensitivity bands, so a second, looser set of divergences can be enabled separately.
A gold dot is the rare one, and it needs four things at once:
- a WaveTrend bullish divergence
- the wave was at or below the deepest oversold band two bars ago
- it is now back above that band
- it climbed at least five points doing so, and RSI two bars ago was under 30
Four conditions, all of which have to line up on the same bar. On the H4 chart below you can see one, next to the divergence line the tool drew for itself.
The gold signal only exists in one direction
There is no gold sell. The condition is written for the long side only, and no equivalent exists for tops.
I'd rather say that plainly than let you wait for a mark that is never coming. If you trade both directions, the sell side gets three tiers and the buy side gets four.
The alerts cover the wrong tier
Two switches, When Buy signal? and When Sell signal?, both on. They fire on the arrow tier: a wave cross beyond an overbought or oversold level.
They do not fire on divergences and they do not fire on the gold dot. The rarest and most selective marks the tool produces are drawn silently.
That's the one design decision here I'd change. In the meantime the practical answer is to treat the arrow alert as a prompt to go and look at the chart, where the stars and the gold dot are waiting.
Notification type also ships as none, so nothing reaches you at all until you pick a channel. The Telegram fields carry placeholder values rather than blanks.
| Ordinary oscillator | This | |
|---|---|---|
| Series in the window | One | Five, eight plotted buffers |
| Divergences | Sometimes, on one series | On WaveTrend, RSI and Stochastic RSI, regular and hidden |
| Signal grading | One kind of arrow | Four tiers, from raw cross to a four-condition gold dot |
| What the alerts cover | Everything it draws | The middle tier only |
| Readable by an EA | Usually one line | All eight series |
Where it's weak
The object count is enormous. On EURUSD H1 over the default lookback this build placed just under thirty thousand chart objects. Gold H1 was under ten thousand. Every cross mark, star, arrow and divergence line is an individual object, and a chart carrying two copies of this will feel it. If the terminal gets sluggish, turn off the tiers you don't read: Show Div. dots and the cross marks are the two biggest contributors.
No gold sell signal, as above.
Divergences confirm late by construction. They're found from fractals, which need bars on both sides before they exist. A divergence is real when it appears and the swing that formed it is already several bars behind.
Fifty-odd inputs. Six overbought and oversold levels for WaveTrend alone, before you reach the MFI, RSI, Stochastic and Schaff blocks. The defaults are sensible; the settings dialog is not a friendly place to go exploring.
Hidden divergences ignore the level limits by default. Not apply OB/OS Limits on Hidden Div ships on, so if you enable hidden divergences you get them anywhere on the scale, including the middle where they mean least.
The MFI band is scaled, not absolute. It's multiplied and offset to fit alongside the waves, so its height is a display choice rather than a reading you can compare to a standard MFI.
Schaff is off and stays quiet. It's a plotted line with no signal logic attached to it. Turning it on adds information and nothing acts on it.
Questions you'll have
Does WaveTrend Divergence Suite repaint? The waves are oscillators and their current value moves with the forming bar, as any oscillator does. Marks are placed on closed bars. Divergences depend on fractals, so they appear a few bars after the swing that created them and do not move once drawn.
What is the hollow gold dot? The four-condition bullish signal: a WaveTrend divergence, the wave coming back up out of the deepest oversold band by at least five points, and RSI under 30 two bars earlier.
Why is there no gold sell? Because the condition is only written for the long side. There is no bearish equivalent in this build.
Why didn't I get an alert on the gold dot? The alerts are wired to the buy and sell arrow tier only. Divergences and gold dots are drawn silently.
Why am I getting no alerts at all? Notification type ships as none. Pick a channel, and replace the placeholder Telegram values if you use that route.
My chart has gone slow. What do I turn off? Show Div. dots first, then the cross marks. Those two produce the great majority of the objects.
What's the difference between a star and an arrow? A star is a divergence. An arrow is a wave cross that happened beyond an overbought or oversold level.
Can an EA read this? Yes. All eight plotted series are buffers, so iCustom gets the waves, the fast wave, MFI, RSI, both Stochastic lines and the Schaff line. The dots and divergence lines are chart objects.
Best timeframe? H1 and H4. On M5 the cross tier fires constantly and the object count climbs fast.
MT4? Both platforms are included, one download each. Same five series, same four tiers, same divergence detection.
Support
Send me a message with a screenshot, the symbol and the timeframe, and I'll tell you what the tool was doing on that bar.
Analysis tool. It places no trades and makes no profitability claim. Past price behaviour is not a guide to future price behaviour.