Trend Wave is an advanced trading tool; trend and counter trade indicator based on Supports and Resistances.
- Trend Wave is designed to have an active trading at any time
- Trend Wave is not lagging
- Indications are given at the beginning of a new candle
Trend Wave indicates
- The Indicator's window shows you the actual count of S and R to get the overall trend
- The white line shows the instant trend.
- On the main chart window, colored arrows are displayed to show the last valid S and R. This also helps to see the trend.
Trend Wave works
- At any TimeFrame
- With any instrument
- With any broker
Trend Wave features
- Histogram representation of active R/S
- Average R/S line
- R/S with colored arrows
- Reversal indication
How to use Trend Wave
Very easy to set up...
- Put it on your chart
- Just choose the color of arrows.
- Follow the trend till a reversal is shown (white line is leaving the edge of the main trend)
Good to know
- Don't consider colored arrows as "setting trade" indications as they show R/S. You will see that they vanishes when a support or resistance is broken so only unbroken R or S will remain; that is the concept of the "Wave".
- If you plan to use arrows as Trade indicators I recommend to use very small lots for each trade (1% risk is far enough)
- Arrow Up: Choose color
- Arrow Down: Choose color
- TrendLine: Buffer 0 White line average value
- None: Buffer 1 Used for calculation only
- None: Buffer 2 Used for calculation only
- TrendUp: Buffer 3 Green Histogram, Support count
- TrendDn: Buffer 4 Red Histogram, Resistances count
More events are reported into notifications.