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Weis Wave for MT4

This indicator is analogous to Weis Wave from the recognized expert David Weiss. It is a modern adaptation of the Wyckoff Method featuring 30-years experience on different markets. The main indicator objective is to calculate the cumulative volumes of the previous waves and the current one.


Indicator Features

  • It responds to changes in a price behavior of the current wave. The indicator may begin to form a new unconfirmed wave.
  • It works in all possible time periods.
  • Four types of different prices are available for the calculation.
  • Flexible configuration of the calculated data visualization.


Indicator Parameters

[Main Settings]

  • Price type — applied price (close, median, typical, weighted)
  • Wave size — wave size for the calculation of the indicator.
  • Volume rounding — rounding of volumes. It is used to reduce the numeric values of wave forces and for the ease of perception.

[Volumes and Waves Displaying]

  • Show volume labels — display/hide the numerical values of the wave strength on the price chart.
  • Show volume waves — display/hide the wave lines on the price chart.
  • Show current label — display/hide the current wave strength on the price chart.
  • Current label color — font color of the current wave strength.
  • Up label color — font color of the ascending waves strength.
  • Down label color — font color of the descending waves strength.

[Line and Font Styles]

  • Font type — font of the numerical values of the wave strength on the price chart.
  • Font size — font size of the numerical values of the wave strength on the price chart.
  • Wave width — width of the wave lines on the price chart.
  • Wave type — type of the wave lines on the price chart.
  • Determined wave color — lines color of the determined waves on the price chart.
  • Undetermined wave color — lines color of the temporarily undetermined waves on the price chart.

[Additional Information Styles]

  • Show info — display/hide the main indicator settings on the price chart.
  • Info location — location of the additional information block on the price chart.
  • Font type — font for displaying the indicator settings on the price chart.
  • Font size — font size for displaying the indicator settings on the price chart.
  • Font color — font color for the whole additional information block.
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Version 1.1 - 2017.02.16
Improved algorithm for determining the current wave.