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Weis Wave Result MT5

The present indicator complements the powerful analysis that can be done through Weis Wave. In the form of towers, it shows the distance that the prices went through in each wave, allowing the trader to have an accurate view of the relationship between effort vs. result, a theory proposed by Richard Wyckoff. One of the main challenges of those who negotiate is to identify moments of market imbalance. Now this is possible with this indicator that shows the price changes in towers format associated to Weis Wave.

Again and again there are situations in which a great effort (strong volume) is made to shift prices to a certain direction, but the distance traveled is short, at other times the opposite can also occurs, where a small effort is printed and a strong displacement of prices occur.

These are examples of imbalances, which offer better risk / return business opportunities. Therefore, it is necessary for those who want to succeed in business, indicators of this nature.


Features

  • 3 types of waves: bullish, bearish and indecision. The tower of indecision comes when prices move in opposite the direction of the current tower.
  • Label that shows the percentage remaining for the next tower.
  • Allows you set the type of volume that will be accumulated in the towers, either real or tick volumes. Thus, the indicator works in any market, for example: stocks, futures, forex, commodities, etc.
  • Allows you to set the required score for the tower exchange.
  • Allows you to set the font size of the percentage labels.
  • Lets you set both the tower colors and the colors of the percentage labels.


Inputs Parameters

  • Reversal Points - Point limit in the opposite direction to change tower.
  • Bulls Tower Info - Bulls percentage label color.
  • Bear Tower Info - Bear percentage label color.
  • Font Size Info - Font size of percentage labels.
  • Volume Type - Real Volume or Ticks Volume.


Colors

  • Set the color of towers.


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Version 1.1 2019.05.16
* Changed word box for tower.