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Weis Wave

The indicator determines supply and demand on any markets. it is based on the idea from the book "A Modern Adaptation of the Wyckoff Method" by David Weis.

It works on any volumes and shows the total volume in waves.

The indicator is good at defining divergences, the beginning and end of a trend and the presence of a supply/demand in a trend.

The indicator works in two modes: "total/single" volume, "simple/oscillator" display.


Inputs

  • Volume - tick or real volume
  • Volume mode - volume display mode: total or single
  • Sensitivity - sensitivity for defining a reversal (recommended 2)
  • Oscillator mode - select oscillator mode
  • Value line - volume readings line
  • Color line "+" volume - line color +
  • Color line "-" volume - line color -
  • Non fixed volume - unfixed volume
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