# WaveTrend Oscillator Review & Score | NextCandle

[All indicators](https://nextcandle.trade/) / WaveTrend Oscillator

## WaveTrend Oscillator
review & score
By [NK2](https://nextcandle.trade/about/#nk2) · checked 2026-11-03
Free open-source · Momentum · by LazyBear

[80](https://nextcandle.trade/methodology/) Provisional out of 100
Last reviewed 2026-11-03 · Updated 2026-11-03: pros, cons and verdict re-sourced

Risk warning: Trading involves substantial risk of loss. Past or backtested performance does not guarantee future results. Scores rate the product, not trade outcomes. [Risk disclaimer](https://nextcandle.trade/risk-disclaimer/)
Best forOscillator traders who want WaveTrend crossovers and overbought/oversold levels in a tiny script they can read in a minute.
[View WaveTrend Oscillator script](https://nextcandle.trade/go/wavetrend)

- Price: Free ([source](https://www.tradingview.com/u/LazyBear/))
- Platforms: TradingView
- Source code: Open source
- Repaint status: No repaint risk found in source (source-code review, not a live bar-replay test, 2026-11-03)

## Repaint check
Code review of the published script (32 lines): only ema()/sma() on hlc3 (lines 15-21) and plain plot() calls. No other-timeframe requests, offsets or pivots. The open bar updates until close. ([source](https://www.tradingview.com/script/2KE8wTuF-Indicator-WaveTrend-Oscillator-WT/))

## Score breakdown

Factor | Points | Max | 
Repaint risk (code review done, live test pending) | 22 | / 25 | 
Source transparency | 20 | / 20 | 
Price value | 15 | / 15 | 
Backtest / claim honesty | 10 | / 15 | 
Vendor transparency | 8 | / 15 | 
Platform reach + alerts | 5 | / 10 | 
See the [methodology](https://nextcandle.trade/methodology/). Code review done, live test pending.

## Pros and cons

Pros
- 32 lines of EMA/SMA maths on hlc3; nothing reads future bars (our code review)
- Two adjustable overbought and oversold levels (±60 and ±53)
Cons
- No alert conditions or buy/sell markers, so crosses are visual only
- Old Pine v1 code, so changes need a conversion first
From the script’s public page and our code review (source). Not from trading tests.
Runs on TradingView: [open TradingView](https://nextcandle.trade/go/tradingview).
TradingView link is an affiliate link: we may earn a commission at no cost to you. It never changes the score.

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