THIS IS HOW TO IDENTIFY RE-ACCUMULATION OF SMART MONEY ON AN UPTREND USING WEIS WAVE WITH SPEED INDEX

Geester:
What is the "Speed Index"? Where does that come from? Thanks.

Panagiotis Diamantopoulos:

Dear Geester,

The Speed Index comes from the Weis Wave with Alert Indicator and it measures the speed of the wave (comparing the volume vs the price move). The  number itself means nothing it's a relevant number and it has to be compared with the previous Speed Indeces  on the chart since every instrrument moves differently.

A High Speed Index means a very slow wave and a Low Speed Index means a very fast wave.

I hope I anwered your question.

Panagiotis Diamantopoulos:

Dear Geester,

The Speed Index comes from the Weis Wave with Alert Indicator and it measures the speed of the wave (comparing the volume vs the price move). The  number itself means nothing it's a relevant number and it has to be compared with the previous Speed Indeces  on the chart since every instrrument moves differently.

A High Speed Index means a very slow wave and a Low Speed Index means a very fast wave.

I hope I anwered your question.

Geester:

Thank you very much for replying. Are you using the original Weis Wave from David Weis or is this the MT5 version that is freely available ?

Regards,

--G

Panagiotis Diamantopoulos:

It is David's Weis philosophy  which I have created but altered , more advanced including labels for volumes, pips and the magnificent Speed Index plus alerts on volume wave and Speed Index. I created both for MT4 and MT5.

For more info this is my page:

https://www.mql5.com/en/users/takisd/seller

Regards,

TD

Geester:

Thank you very much. It looks excellent!

Panagiotis Diamantopoulos:

I was fascinated from David Weis but I thought that there was something missing that's why I created my own. By the way I am trading myself with two indicators Weis Wave with Alert and Weis Pip Wave. If you are interested for 15 Day full working trial you can visit by site at

www.smartmoneyexposed.com and request it on the Free Trial Menu.

Geester:

I tried to buy his indicator from him a few years ago. I sent him a few questions but he didn't reply so, I didn't buy. I'm interested in how you have "weighted" the volume from different sessions? Also, from the videos I watched, I can't establish whether the latest version still requires the user to decided on the wave reversal amount or, whether the indicator can take care of that aspect?

Panagiotis Diamantopoulos:
 What if you're a programmer ? I will tell how it weigheted.  I take the average volume when Europe and US are trading and then I weight the rest of the sessions. Better yet you can work with tick charts (constant volume) in order to avoid the time issue. Concerning the latest version I have added the Autowaves feature so what you have to adjust is the sensitivity and then it works on all time frames without any adjustment.  From time to time I adjust the sensitivity if I do not like what I see. The manual is also available. 

Geester:

>Well you want to know all my secrets!!!

Hmmm. I'm hoping/assuming this is a humorous response on your part? As far as "secrets" go, there is nothing secret about any of it. It's all ultimately based on Wyckoff. In your videos, you explain how your waves are formed and indeed, how the speed index is created (if I had known about and watched the videos, I wouldn't have asked you that question). So, you are worried that I will do what you did? You took well known ideas and simply re-implemented them. I see some of your ideas are taken from other Wyckoff Wave products in addition to the David Weis product, some of which, I have bought licences for. What drew me to your offering is that you have a very definite approach to using your tools that resonates well with me. I've spent several thousand dollars on wave indicators that have not really worked well enough for a number of reasons, some of which you have touched on, like volume differentials across sessions. So, when I noticed this was a feature of your product after watching the videos, is it so unusual to be asked about it?

I was genuinely impressed by your product and the helpful videos you have made to explain how to use and trade with them. This is totally absent with your competitors products unless, you pay extra for "training". I'm just sorry that your patience didn't extend to my question about volume weighting. I didn't want your algorithm details, just a general idea of how you approached it out of the numerous ways this could be approached. I like to ask questions about things I am interested in buying. I thought you were genuinely happy to answer them.

No worries, I'm sorry to have upset you.