This is why GBPJPY when down 80+ pips- TRADING WITH WEIS WAVE WITH SPEED INDEX

1. How do you know what value to set the alert to? Do you just pick a number that is slightly higher than all the previous high numbers? So, in this case you had it set to 20?

2. Also, what is the need for the histograms if you are just looking at the numbers on the chart? 

3. I have seen you adjust the sensitivity several times but I don't know why exactly? It seems like you do it when the numbers get too large.

4. The numbers on the chart are representative of the TDVol, TDPip or the speed index?

Thanks for your help, I've watched and read everything you published so far and am very intrigued but just wondering if I can operate these tools successfully on my own.  

Dear Jraud,

Very Good questions maybe I should create a video about them, but let me answer you first.

3. First thing I do is  adjust sensitivity so that I get the proper swing waves (waveline should touch close price of highs and lows). Correct swings means correct Speed Index - wrong swings means wrong Speed Index. Since I am using 1HR charts I like to have the swing right for a about a week back, I do not care what happened a month ago. Instruments tend to change they way the move so we have to change too plus not all instruments move the same for example EU does not move the same as EJ.

1. Speed Index is a relative number and it's has to be compared with recent history (one or two weeks) , it means nothing by itself. What Speed Index tells us is "Change in Behavior". I would say that there three categories of Speed Index number low(fast wave move), medium (medium wave move) and large (slow wave move). In the chart above I would say change in behavior (large number) would be anything above 18. Very, very important : the Speed Index of a wave which is 10 bars is much more important than the Speed Index of a wave with 3 bars.

2. Why do we need the histograms for: how would know where is most of the volume on down moves or up moves ? You do not, without the cumulative volume waves. How would notice easily that there is volume but there is not the respective pip move ?

4. I do not quite understand this question but let me answer. If you mean the blue numbers I put them as a reference to my comments it can refer to all  TDVol, TDPip or the speed index, it depends what I write in my comment.

I hope you have a better understanding now.

Do not hesitate to contact if you have any more questions.

Regards,

Panagiotis