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Using a Higher Timeframe WAMI Oscillator with a Trend-Colored Signal Cloud

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Summary

This document describes a WAMI oscillator indicator that can be set to calculate on a timeframe different from the chart’s timeframe. It fills the space between the oscillator and its signal line with color according to the indicated trend direction. The example input uses a four-hour period, illustrating how the user can select a higher timeframe for the indicator.

The material explains the display and timeframe setting, but does not define the WAMI calculation, provide trading entry or exit rules, or show performance tests. It also states that the indicator depends on a separate WAMI file being installed in the platform’s indicator directory. As presented, it is a description of a charting tool rather than a tested trading strategy; interpretation and usefulness depend on the underlying indicator and the user’s own evaluation.

Key ideas

  • WAMI can be calculated using a timeframe selected separately from the chart timeframe.
  • The indicator colors the gap between its oscillator and signal line based on trend direction.
  • The example selects a four-hour indicator timeframe.
  • The document provides no trading rules, calculation details, or performance evidence.

Tags

Technical indicatorsTrend following

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.