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Trend Wave

Trend Wave is an advanced trading tool; trend and counter trade indicator based on Supports and Resistances.

  • Trend Wave is designed to have an active trading at any time
  • Trend Wave is not lagging
  • Indications are given at the beginning of a new candle


Trend Wave indicates

  • The Indicator's window shows you the actual count of S and R to get the overall trend
  • The white line shows the instant trend.
  • On the main chart window, colored arrows are displayed to show the last valid S and R. This also helps to see the trend.


Trend Wave works

  • At any TimeFrame
  • With any instrument
  • With any broker


Trend Wave features

  • Histogram representation of active R/S
  • Average R/S line
  • R/S with colored arrows
  • Reversal indication


How to use Trend Wave

Very easy to set up...

  • Put it on your chart
  • Just choose the color of arrows.
  • Follow the trend till a reversal is shown (white line is leaving the edge of the main trend)


Good to know

  • Don't consider colored arrows as "setting trade" indications as they show R/S. You will see that they vanishes when a support or resistance is broken so only unbroken R or S will remain; that is the concept of the "Wave".
  • If you plan to use arrows as Trade indicators I recommend to use very small lots for each trade (1% risk is far enough)


Inputs

  • Arrow Up: Choose color
  • Arrow Down: Choose color


Buffers

  • TrendLine: Buffer 0 White line average value
  • None: Buffer 1 Used for calculation only
  • None: Buffer 2 Used for calculation only
  • TrendUp: Buffer 3 Green Histogram, Support count
  • TrendDn: Buffer 4 Red Histogram, Resistances count
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