This is a combination of Lazybears WaveTrend Oscillator (purple line) and Chande Momentum Oscillator (blue line with the orange line as a signal line). Use WaveTrend as a confirmation tool. It is consider as a selling point when CMO is over the red horizontal dotted line. The opposite applies if CMO line is under the red horizontal dotted line.
You can also use this with WaveTrand to confirm the sell or buy point. When WT line is over center line and CMO has crossed over it's signal line. It is a buy point. The opposite applies if WT line is under the center line and CMO is under its signal line.
Amazing indicator. Always loved the WaveTrend but could never fit it into my algo quite right. This combo hit the spot. It's hitting on all cylinders with my baseline and C1. Again, amazing work. Just stumbled on here and what do you ya know, fits like a glove.