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Weis Wave with Alert MT5

*NEW Speed Index + Auto Volume Waves * 


How to trade with it:  https://www.tradethevolumewaves.com/blog

Videos on how to use it on our youtube channel:  https://www.youtube.com/channel/UCTAzhvsnzPppdqWJS-MWafQ

Weis Wave with Alert MT5

This is a Weis Wave indicator which is based on Richard D. Wyckoff theory. It works in all time periods, range bar and tick bar charts and it can be applied to any market.


This indicator is adding the volumes of the corresponding price waves and draws a cumulative histogram. Each price wave is moving in a specific direction up or down until it reverses. In order for the indicator wave to reverse in the opposite direction, the price should exceed the number of points (pip*10) set in the indicator parameters. Therefore, the last wave repaints but the theory behind this trading method is forecasting where the market will go by reading mainly the previous waves.


The volume of the wave together with pip distance that the price has covered and the number of bars are displayed at the end of this wave. Speed Index is a new function shows the speed of the wave and can be displayed on the chart (the smaller this number is the faster the wave is and the larger this number is the slower the wave is)


Furthermore, an Alert (popup, email, push, sound) can be setup if the cumulative volume of the current wave exceeds a certain number specified in the parameters. An Alert can also be setup if Speed Index exceeds a specific value and/or is below a specific value.





Trading Strategies:


www.tradethevolumewaves.com



Setup Parameters

  • Load all Bars: true/false, if false Number of bars back will be loaded
  • Number of bars back: numbers of bars that the indicator will load
  • Wave Direction Change difference in Points: Number of points required for the current wave to reverse and form a new wave
  • AutoDifference: true/false - Neglects the Wave Direction difference  and adjusts the Difference automatically creating more accurate waves.
  • AutoSensitivity: The higher the number the higher the sensitivity and therefore more waves are formed.
  • Format Parameters for Auto Difference value displayed on chart as "WP Difference:xx" (Corner, Y offset, X offset, Font, Font Size)
  • VolDivBy: Volume divider in order to avoid big numbers on the display
  • PipDivBy: Pip distance  divider in order to avoid big numbers on the display
  • Volumetype= true=Tick Volume, false=Real Volume
  • Weighted Volume: true/false - Weights volume of  different sessions taking into consideration that when London and US are operating at same time have the highest volume of all sessions occurs and adjusts the rest of the sessions. With this parameter it very easy visualize which volumes are significant even on Asian hours or non-significant on London-US hrs.
  • Weight_All_Bars: true/false - If set to false only the numbers of bars specified on "Weight_Specific_Bars" parameters will be considered.
  • Weight_Specific Bars: the number of bars that will be considered for the weighted volume calculation.   
  • Volume Filter: true/false - Advanced algorithm that emphasizes on significant volume waves 


Format Wave and Label parameters


  • ShowLabels: Display or not the volume, the pips and the number of bars of each wave
  • What to Display:1-Volume,2-Pips, 3-Bars, 4-All, 5-Volume and Pips
  • ShowWaveLine: Draw the wave line or not on the price chart
  • Format: LabelShift, Font size, Color Up, Color Dn, wave color, wave width


Volume Alert Parameters


The information displayed by the alert function are: the pair, the period, a message “Hign Dn Volume” or “High Up Volume” and the time.


  • TriggerCandle: The candle number that the alert will be triggered
  • VolSize: The value of cumulative volume that will be triggered if the alert is exceeded
  • Alerts:Popup, Sound, Email, Push


Speed Index Display and Alert Parameters


  • ShowSpeedLabels: Show or not speed index on the chart

  • SpeedAlert: Enable or not speed index alert - Speed Alert works on the previous wave - not the current which is forming.

  • AlertFont: Font for speed index when criteria are met (in order to differentiate from the rest of indices)

  • SpeedIndexSizeSlowAbove: Trigger Alert if speed index is above setup number.

  • SpeedIndexSizeFastBelow: Trigger Alert if speed index is below setup number.

  • Alerts:Popup, Sound, Email, Push

















































Отзывы 4
SamitR
740
SamitR 2020.06.23 00:13 
 

If there was a way I could give someone 100 stars , then this would be it !!!!! I have never had anyone like Panagiotis during all my time in the field of trading He literally held my hand and went through all the steps of how to use his fabulous indicators He is a true gentleman..God Bless

malmegrin
54
malmegrin 2019.12.04 18:27 
 

The Best Weis Wave indicator available!!!! Blazing fast and full of features. And the tech support is Awesome!!!!!! Thx a lot for the Work Mr. Panagiotis.

Eduardo Vian
110
Eduardo Vian 2019.11.30 05:00 
 

Excelente indicador. De todos weis wave, sem dúvida esse é o melhor. O speed index é muito efetivo para antecipar grandes movimentos, sem dúvida, o melhor indicador para rastrear o "smart money". Recomento. Um investimento que você não vai se arrepender.

Excellent indicator. Of all weis wave, no doubt this is the best. Speed index is very effective for anticipating large movements, arguably the best indicator for tracking smart money. I recommend it. An investment you will not regret.

Рекомендуем также
Фильтр:
SamitR
740
SamitR 2020.06.23 00:13 
 

If there was a way I could give someone 100 stars , then this would be it !!!!! I have never had anyone like Panagiotis during all my time in the field of trading He literally held my hand and went through all the steps of how to use his fabulous indicators He is a true gentleman..God Bless

malmegrin
54
malmegrin 2019.12.04 18:27 
 

The Best Weis Wave indicator available!!!! Blazing fast and full of features. And the tech support is Awesome!!!!!! Thx a lot for the Work Mr. Panagiotis.

Eduardo Vian
110
Eduardo Vian 2019.11.30 05:00 
 

Excelente indicador. De todos weis wave, sem dúvida esse é o melhor. O speed index é muito efetivo para antecipar grandes movimentos, sem dúvida, o melhor indicador para rastrear o "smart money". Recomento. Um investimento que você não vai se arrepender.

Excellent indicator. Of all weis wave, no doubt this is the best. Speed index is very effective for anticipating large movements, arguably the best indicator for tracking smart money. I recommend it. An investment you will not regret.

Globex43
214
Globex43 2019.09.11 13:45 
 

Excellent!

Версия 4.9 2020.09.10
Updated SI Algorithm & changed indicator name
Версия 4.8 2020.09.07
Added Weighted Volume features!
Версия 4.7 2020.08.16
Added the option to Load All Bars or Specific Number of Bars
Weighted volume under development
Версия 4.6 2019.09.19
Adjusted Weighted Volume - added all bars weight-added DayLight Savings
Версия 4.5 2019.08.13
Updated Speed Index, Volume divider and Pip Divider
Версия 4.4 2019.07.18
Adjusted Autowaves
Версия 4.3 2019.07.15
Adjusted Autowaves Algorithm
Версия 4.1 2019.06.02
Added display of AutoSensitivity parameter on chart
Версия 4.0 2019.05.28
1. ****NEW Auto Volume Waves ****

AutoDifference: true/false - Neglects the Wave Direction difference and adjusts the Difference automatically creating more accurate waves.
AutoSensitivity: The higher the number the higher the sensitivity and therefore more waves are formed.
Format Parameters for Auto Difference value displayed on chart as "WV Difference:xx" (Corner, Y offset, X offset, Font, Font Size)

2. Adjusted Label Shift
Версия 3.2 2019.03.31
Added parameters for Speed Index color and Speed Index Alerts color
Версия 3.1 2019.03.21
Pip display adjustment.
Версия 3.0 2019.03.21
Added Advanced Volume Filter that emphasizes on significant volume waves.
Версия 2.0 2019.02.03
Major Update:
New functions added to the indicator
1. PipDivBy: Pips divider in order to avoid big numbers on the display
2. Ability to choose which labels to display: 1 - Volume, 2 -Pips, 3 -Bars, 4- ALL, 5- Volume and Pips

New Speed Index Display and Alert
Speed Index= Wave Volume/Pip Distance - which means how much volume was needed to move 1 pip. The smaller the number is the faster the wave is. The larger the number is the slower the wave is.

Alert functionality has been added if speed index is above a certain value and/or below a certain value.


Push Notification has been added on both Volume and Speed Index