Wolf Wave Ninja
Wolf Wave is a Predictive Reversal Pattern
Wolfe Waves are caused by forces of supply and demand that exist in all markets and all time frames. They were originally discovered by Brian and Bill Wolfe. They form patterns consisting of 5 waves where the first 4 define a wedge and the last extends beyond this wedge. This last wave is usually traded. Using the Wolfe wave principles, we can calculate its length by drawing a line between point 1 and point 4 on the wedge and extending this in the direction of the breakout of wave 5. It functions as the profit target line. The Wolfe Wave analysis technique can forecast an Estimated Price at Arrival (EPA) and an Estimated Time of Arrival (ETA).
The wave preceding the fifth wave, could exceed the extended trendline from waves 1 to 3, before making a large move in the opposite direction. This is the ideal entry point for a trade towards the profit target line. There are specific rules that define this naturally occurring trading pattern. As with any trading method, several variations exist. Trades based on this system usually have tight stops compared to the profit target, making for good reward / risk ratios.
This “Easy Wolfe Wave” indicator automatically detects every single valid Wolfe Wave pattern on every time-frame, every currency pair…
Once a Wolfe Wave pattern has formed, the indicator waits for a breakout in the direction of the Wolfe Wave pattern. When that breakout occurs, the indicator prints an up/down arrow on your chart (and also gives you audio and pop-up alerts), telling you that this Wolfe Wave pattern has been confirmed to be valid.
- Symbols - enter the symbols you want to trade, separated by a comma. Use prefix or suffix if your broker uses them.
- Is M1 Timeframe Enabled - True/False
- Is M5 Timeframe Enabled - True/False
- Is M15 Timeframe Enabled - True/False
- Is M30 Timeframe Enabled - True/False
- Is H1 Timeframe Enabled - True/False
- Is H4 Timeframe Enabled - True/False
- Is D1 Timeframe Enabled - True/False
- Is W1 Timeframe Enabled - True/False
- Is MN Timeframe Enabled - True/False
- Sort By - Symbol, Timeframe, Direction, Pattern, Age, Completion
- Sort Type - Ascending or Descending
- Bull Arrow Color
- Bear Arrow Color
- Size of Waves to Look for - 12 is default
- Max History Bars to Search Back - 5000 is default
- Bear Wave Color
- Bull Wave Color
- Display Target Line - True/False
- Target Line Color
- Display Breakout Line - True/False
- Breakout Line Color
- Line Width
- Popup Alerts - True/False
- Email Alerts - True/False
- Push Alerts - True/False
- Sound Alerts - True/False