Just Waves MT5
Among various methods of technical analysis of the Forex market, wave analysis is a fundamental one. Anyway, when it comes to the price change over a period of time, we are dealing with waves. According to Elliott's theory, waves are formed in a fractal way. On the same principle MT5 indicator Just Waves marks up waves of different levels (up to 8) and creates graphic lines indicating the beginning and ending points of the waves.
Just Waves offers an objective criterion of a wave, thereby uncovering tremendous opportunities not only for traders but also for programmers, developers of trading systems and analysis. It was created in order to help people to get rid of routine actions and focus attention to the decision-making process.
- Level - number of wave levels (0-7)
- WaveName - major name of a single wave (default is "Wave")
- LastBars - number of last bars for calculation. If 0 or VLine is true, the parameter is ignored
- VLine - if true, the indicator starts working from the bar, which has a vertical line
- VLineName - name of the vertical line (default "1")
- TesterStart - time, at which the indicator builds a vertical line in a strategy tester if VLine is true
- SelectableWaves - opportunity to control the selection by clicking waves
- WavesOnBackground - opportunity to draw waves in the background
- You can also set the color and width of the wave lines
- true: waves are drawn based on a fixed timeframe
- false: waves are drawn based on the current timeframe
Added the TF setting:
- selection of a fixed timeframe
Added the DeledeWaves setting:
- false: waves are not removed from the chart after deinitialization.
- true: waves are removed from the chart after deinitialization.
- one tick drawing lag fixed
- new settings added:
1. LastBars - the number of last bars for calculation. If 0 or VLine is 'true', the parameter is ignored.
2. SelectableWaves - opportunity to control the selection by clicking waves
3. WavesOnBackground - opportunity to draw waves in the background