Weis Wave with Alert Indicator V10 MT4

This is a Weis Wave with Alert Indicator V10 MT4 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 an evolution of Weis Wave with Alert Indicator V10 MT4 because it offers the autowaves feature, five different wave types as well as the powerful Speed Index.  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 parameters. Therefore, the last wave repaints but the theory behind this trading method is forecasting where the market will go by reading  the previous waves.

Weis Wave with Alert Indicator V10 MT4Trading Strategies:
www.tradethevolumewaves.com

Weis Wave with Alert Indicator V10 MT4 Setup Parameters

• Indicator Number: Multiple Indicators can be added on the same chart. Valid values “0 to 9” and “a-z”
• Show Orders: display or not your orders
• Difference: Number of points required for the current wave to reverse and form a new wave
• AutoDifference: true/false – Neglects the Difference parameter and adjusts the Difference automatically creating more accurate waves.
• AutoSensitivity: The higher the number the higher the sensitivity and therefore more waves are formed.

• 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.

Not to be used with constant tick charts.

Speed Index Display and Alert Parameters

• SI (Speed Index) Display:  Show speed index  0 No Display, 1 Speed Index only, 2 Volume and Speed Index, 3 Volume and Average Speed Index, 4 Speed Index and Wave Speed (Fast or Slow)
• Show Plutus Patterns or Not
• Alert on Plutus Patterns: Popup, Sound, Email, Push
• SpeedAlert: There are two ways that you can be notified for Extreme Speed Index numbers the Automatic and the Manual, please refer to the manual for explanations.
• Alerts :Popup, Sound, Email, Push
• 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
• Format parameters: LabelShift, Font size, Color Up Color down, wave color, wave width.

Volume Alert Parameters (Wave Type)

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

• Volume Alert above this limit: The value of cumulative volume that will be triggered if the alert is exceeded
• Alerts: Popup, Sound, Email, Push

Format Numbers for better display

• 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
• SI Multiplier: Speed Index multiplier for better display.
• Reverse_style: negative down waves

Location of parameters to be displayed (Corner, Y offset, X offset, Font, Font Size)