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Weis Wave Indicator

90 USD

Demo downloaded: 30

Published: 20 October 2022

Current version: 1.0

Weis Wave Indicator

Indicators
Dhabaleswar Prasad Jena
Dhabaleswar Prasad Jena
India

327
2 topics
Version: 1.0
Activations: 5

This indicator is based on the Weis wave principle of wave volume. Below are few features of the indicator

It draws the wave on the chart while the accumulated volume per wave in a different window at the bottom of the chart
You can configure the turning point move
It displays the accumulated volume (in thousands, eg for 15000 volume it will show 15) at the end of each wave
You can also configure to show number of candles in the wave along with the wave volume
The indicator calculates the distinct volume by historical analysis and colors them differently for you to pick easily

Parameters

Difference - It is for wave variance. Keep it 0
LabelShift - Distance from candle where the wave volume is shown. Keep it 20
waveHistory - Number of Up or Down wave the indicator will analyze to come up with significant volume
customizePip - It adjusts the pip size for better wave configuration. One setup will automatically fit for all stocks of different values, be it 5 $ or 1000$ stock. Keep it TRUE
showVolume - It will show volume in thousands at the end of each wave on the chart. Keep it TRUE
showBarCount - Shows the bar count along with volume. Keep it TRUE if you want that data
truncateVolume - It will show volume in thousands. For exact volume to display you can set it to FALSE
showAlert - Alert is for the next version release. Keep it FALSE for the moment
upNormal - Color to display routine volume with no impact in the change in behavior in UP wave
upHigh - Color to display any high volume in the wave that could sign the possible change of behavior in UP wave
upLow - Color to show very low volume in the wave that could suggest shallow supply or demand in UP wave
dnNormal - Color to display routine volume with no impact in the change of behavior in DOWN wave
dnHigh - Color to show very high volume in the wave that could sign the possible change of behavior in DOWN wave
dnLow - Color to show very low volume in the wave that could suggest shallow supply or demand in DOWN wave
waveWidth - Width of the wave line on chart. Keep it 2 for better look
waveColor - Color of the wave line in chart. Chose that best suits your template

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Weis Wave Indicator

Dhabaleswar Prasad Jena