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Klein Wave Volume
KleinWaveVolumeNT8, NT7 to NT8 conversion, TraderGB, April 7, 2021
Description:
Klein Wave Volume indicator is used to determine supply and demand in the form of waves. This indicator is based off Wyckoff method. If you've studied under the late great David Weis, Dr. Gary Dayton or Gary Fullett, you'll probably want to have this indicator in your tool box.
It helps to identify:
1) No Supply
2) No Demand
3) Change of Behavior (COB)
4) Large Effort No Reward
No Supply
:
If there are 3 down waves (5 Swings) with shortening of thrust in the 3rd Wave (5th Swing) and reduced wave volume it indicates supply is withdrawn from the Market.
No Demand
:
If there are 3 up waves (5 Swings with shortening of thrust (SOT) in the 3rd Wave (5th swing), and reduced wave volume, it indicates demand is reduced.
COB (Change of Behavior)
:
After continuous down or up wave, if you see large wave against the current trend (HH or LL) it indicates COB and Market is changing its trend or direction.
Large Effort No Reward
:
*
If there is a large Down Wave and the price did not move much compared to previous down swing and failed to make Lower Low it indicates that there was large effort to go down and there is no reward and hence market will reverse upward.
*
If there is a large Up Wave and the price did not move much compared to previous up swing and failed to make Higher High it indicates that there was large effort to go up and there is no reward and hence market will reverse downward.
In general, when the wave volume is diminishing in the down swings, it indicates supply is withdrawn from market.
Same way when the wave volume is diminishing in up waves, it indicates there is no demand in the market.
Category
NinjaTrader 8 Indicators and More
Details:
Klein Wave Volume
Category:
NinjaTrader 8 Indicators and More
April 7th, 2021
Size: 9.92 KB
Downloaded: 690 times
2352
TraderGB
Comments/ratings
Skid
May 11th, 2021 04:30 PM
No Comment
kiro
July 27th, 2021 05:35 AM
Thank you! Great job!
d1david
November 24th, 2021 08:30 PM
No Comment
DaveP711
December 8th, 2021 12:26 PM
Thank you! This is a seriously excellent addition to anyone's toolbox.
wbweston
January 12th, 2022 02:19 PM
Very nice, love it! Thanks so much for sharing.
MONICAP
May 5th, 2022 10:47 AM
No Comment
dpkgpl91
June 15th, 2023 09:08 AM
Looks amazing! Does this repaint?
j77777
August 14th, 2023 10:04 PM
very good,,,thanks so much
sunshnpeg
August 30th, 2023 11:34 AM
No Comment
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