Charts247 Wave Master MTF MT5
A complete 0-5 wave count with a built-in rules panel: it reads both directions on your chart and on a higher timeframe, grades every wave, maps the major structure and marks where price spent the most time. Closed candles only.
Most wave tools leave you with numbers on a chart and the hard part still to do: is this wave worth trading, which side has the trend, and does the bigger timeframe agree? Wave Master MTF answers all three on one screen.
It runs the Waves of Success 0-5 count on every closed candle, for sells and buys at the same time, measures each wave against the one before, and turns the result into a plain instruction for each side: BUY, SELL, WAIT, NO TRADE or WAVE 5. The same count runs on a higher timeframe, so you see straight away whether both timeframes point the same way.
Most wave tools leave you with numbers on a chart and the hard part still to do: is this wave worth trading, which side has the trend, and does the bigger timeframe agree? Wave Master MTF answers all three on one screen.
It runs the Waves of Success 0-5 count on every closed candle, for sells and buys at the same time, measures each wave against the one before, and turns the result into a plain instruction for each side: BUY, SELL, WAIT, NO TRADE or WAVE 5. The same count runs on a higher timeframe, so you see straight away whether both timeframes point the same way.
The wave count
• Two counts at once: a SELL count (wave 0 at a high, red) and a BUY count (wave 0 at a low, green), each from 0 to 5.
• Rule-based, not hand-drawn: every wave is set by a fixed test on closed candles, so two traders with the same settings see the same count.
• Every wave is named on the chart: Short, I (Buy Rev), II (Sell Trend), III (Buy Rev), IV (Sell Trend), V (Stop Sell), and the mirror for buys. The words are inputs, so you can use your own.
• Finished 0-5 counts stay on the chart in dimmer colours, so you can study how past waves played out.
Wave ratios and grades
• Wave 2 as a % of wave 1, wave 3 as a multiple of wave 1, wave 4 as a % of wave 3, printed beside each wave.
• Every count graded: WEAK, OK, PRIME or EXT (extended third wave), with A+ for the strongest shape.
• Wave 4 placed in band A (shallow), band B or a 0-3 check, and flagged NO TRADE when the correction is deep enough to say the trend is losing strength.
• All grade limits are inputs.
The rules panel
The panel applies four simple rules to the live counts and tells you where each side stands:
1. A wave 5 means that trend has run its course: no new entries that way.
2. With the trend that just finished, re-enter at the next wave 2 or wave 4 of the same colour.
3. That re-entry holds only until the other colour prints a wave 3.
4. Against the trend that just finished, never at wave 2: wait for wave 4.
For each side you get a clear status (BUY, SELL, WAIT, NO, W5) with the reason underneath, for example "SELL - red 4: with the trend, W4 38%, grade A+ PRIME (A)". The panel also shows the trend from the last wave 5, how long ago it printed, and where both live counts stand.
Higher timeframe (MTF)
• The full count and rules also run on a higher timeframe: chosen automatically (M5 to H1, M15 to H4, H1 to D1 and so on) or set by you.
• The panel shows the higher-timeframe trend and its own BUY / SELL / WAIT for each side.
• An ALIGNED line lights up when both timeframes give the same instruction; AGAINST warns you when they disagree.
• The higher-timeframe wave points are drawn on your chart (for example "H1 3") on the exact candle where they formed, so you see the big waves and the small waves together.
Major structure
• A major zigzag built from confirmed swings, coloured by the major trend: green in an up trend, red in a down trend, blue with none.
• Major HH, HL, LH and LL labels, and a major 0-5 count on the bigger swings.
• Optional rays from the newest majors, running right until price closes through them.
H4 POC levels
• The point of control of every H4 block: the price touched by the most M5 candles.
• Prominent POCs, where price spent two hours or more, drawn in colour: green when higher than the previous one, red when lower. The newest run to the live candle.
Alerts
Pop-up, phone notification or both, each switchable: the rules panel turning to BUY, SELL or WAVE 5 (optionally only when the higher timeframe agrees), a new wave 2, 3, 4 or 5 on your chart, and a new wave 2, 3, 4 or 5 on the higher timeframe. Alerts fire once, on the close of the candle, never for history.
Control panel
Eight buttons switch the layers on and off: waves, finished counts, higher-timeframe waves, majors, major count, major rays, POC and prominent POC. Settings are kept per symbol, and the panel can be minimised to one line.
How the count behaves
Everything is calculated on closed candles. A wave point can still move to a later candle while its count is running: wave 1 extends while price keeps going, and a wave 4 that reaches wave 2 shows wave 1 was not finished. A close beyond wave 0 unwinds the count. The newest major swing is provisional until it is confirmed. Nothing is changed on candles that have already closed.
Inputs
• Wave count: wave window (21 by default), history, which counts to show.
• Wave look: colours, number size, gaps, wave words and font.
• Ratios and grades: every grade limit and the deep wave 4 filter.
• Higher timeframe: automatic or chosen, history, points on the chart, colours.
• Major structure: history, confirmation, trend length, colours, sizes, rays.
• H4 POC: blocks shown, prominent threshold, colours.
• Panel, alerts and copy number.
Notes
• Works on any symbol; built for intraday forex charts from M1 to H4. The POC levels show on H4 charts and below.
• The wave method is the Waves of Success method taught by Charts247 Trading Academy.
• No DLLs and no files written.
• Also available for MetaTrader 4
Trader, educator and developer with 17 years of live market experience. I’m the founder of Charts247 Trading Academy, where I teach the WavesOfSuccess (WOS) methodology, a structured approach to reading market waves, trend changes and high-probability setups.
