Wave Trend -V2

Wave Trend -V2 is here to give you a serious edge.
This upgraded version of the popular LazyBear script takes wave trend analysis to the next level.

Here's the deal:

Multi-Timeframe Analysis: Beyond Short-Term Noise:

Novice traders often focus solely on the current timeframe (let's say, the 5-minute chart).
Wave Trend -V2 breaks free from this limitation by analyzing price action across multiple timeframes (1-minute to 1-week).

---This holistic view helps you:

Identify larger trends: Are we in a bullish uptrend on the daily chart, even if the hourly chart is showing some short-term weakness? Wave Trend -V2 helps you see the bigger picture.
Avoid false breakouts: Short-term price spikes can create false signals. By looking at higher timeframes, you can filter out these "noise" and focus on sustainable trends.

---Pressure Analysis: Gauging Market Strength:
Wave Trend -V2 goes beyond simple trend identification.
It incorporates "pressure" analysis to gauge the strength and direction of the current market trend.

This helps you:
Enter trades with confidence: When the trend is strong and the pressure is high, you can enter trades with greater conviction.
Minimize risk: If the pressure is waning or conflicting signals arise, you can avoid entering trades or adjust your risk parameters accordingly.
Impact Point Analysis: Predicting Future Price Moves:

Wave Trend -V2 analyzes the price impact of the last four wave trend crossovers.
Let's say the last impact point was "X", the previous one "X-1", the one before that "X-2", and so on.

The indicator calculates the average price movement between these points using the following simplified formula:
Average Impact = (X - X-1) + (X-1 - X-2) + (X-2 - X-3) / 3

This average provides a valuable estimate of the potential price movement of the next crossover.

Multiple Take Profit Levels: Setting Strategic Targets:

Wave Trend -V2 offers three dynamic take profit levels (TP1, TP2, TP3).
TP1: Based on the estimated average impact.
TP2: Twice the estimated average impact.
TP3: Three times the estimated average impact.
This allows you to set your profit targets strategically, maximizing potential gains while managing risk effectively.

Why don't use the Estmated impact point to stop the trade?
In order to eliminated the WHIPSAW effect! There is no other way...

Wave Trend -V2 is designed for traders who seek a deeper understanding of trend dynamics and desire a more sophisticated approach to trading. By combining multi-timeframe analysis, pressure assessment, and advanced impact point calculations, this indicator empowers you to make more informed trading decisions and potentially improve your trading outcomes.
The indicator work best with combination of other trend type indicators.

Please dont forget that indicators are not miracle medicines , it cannot give you exact results , market was always volative , use at your own discretion.