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True Weis Wave

A version based on David Waves' description in his book 'Trade About to Happen' of his adaptation of the Wyckoff wave chart. The indicator directionally accumulates volume, adding to each brick or candle close, with color indication for up and down.

it can be used it with tick or real volume, it also changes color when the accumulated value of the previous wave is exceeded, being the trade signal. Yellow color is used for doji candlestick, it will continue with accumulation without zero the sums before. Very good to be used in renko chart as it adds up when closing each brick. It can be used as a single indicator or in conjunction with other indicators.

Renko that works as a service:


Contact me:  atilagf@protonmail.com .

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Version 1.30 2022.09.15
A new buffer with a higher wave confirmation was added. 1 for positive wave, -1 for negative.
Version 1.20 2022.09.06
Correct the plat histogram plot.
Version 1.10 2022.09.06
yellow histogram color for doji candle