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HP Wave Entry Alerts Indicator

  • Indicator to identify and display peaks and troughs for a given time period.
  • This indicator is one indicator that repaints, in the sense that the actual signal is disappearing from the screen if price goes and makes a new high/new low after such a signal appears.
  • These are extremely useful as they represent actually a series of higher highs or lower lows that are being marked on the screen and they show a sell or a buy alert for the trade to come.
  • For example, if the whole system shows bearish conditions and such a sell alert signal provided by Wave Entry Alerts indicator appears, then this is the moment one should have highlighted attention for entering the market.


Working

  1. Scans through history bars and analyses peaks and troughs.
  2. Draws a point with circle where it finds a peak or trough.
  3. The peak and trough are marked in separate colors.


Features

  • It also generates alerts when the condition is satisfied.
  • The alerts are configurable in the input of the indicator.


Input parameters

The Traders can choose from several types of alerts

  • BOX Alert - This is a pop up dialog box alert.
  • EMAIL Alert - The traders can also opt for the email alerts.
  • SOUND Alert - The traders can use sound for the alert.
  • AlertLv1 - The traders can opt for these textual alert.
  • AlertLv2 - This is another textual alert for the traders.
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