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BMT Wave

Inspired by websouth, I wrote this indicator.

This is for VIP Users Only. So please don't distribute or post elsewhere.

The inspiration came from websouth's template, which I started a discussion on here:
websouth's shared Price Action templates

The indicator works a little different than websouth's implementation, because he was using the displacement chart feature which puts lines behind (historical) price. Within the indicator, I just painted the line using historical data, but it still plots real-time.

At any rate, it is a very interesting indicator. Sometimes it is a thing of beauty, others the visual aesthetics are not appealing but that usually means chop. If the indicator looks like shit then the price action is probably shit, too.

All colors are fully configurable, as is the shading, and opacity. You can also control the historical period rate.

Attached are a few screens plus the indicator. It's the top panel stuff.

I look forward to your input

Mike

Optimized by Zondor for NT7: 6/17/2010

COMPATIBILITY:
NinjaTrader 6.5: YES
NinjaTrader 7.0: YES

Category The Elite Circle

Details: BMT Wave
Category: The Elite Circle

December 3rd, 2009
Size: 4.56 KB

Keywords: bmt wave zondor

Comments/ratings

Mopaditi December 19th, 2009 05:24 PM

Mike, this indicator is wonderful. What is the type of MA you use?

beatniktrader March 30th, 2011 03:04 PM

Thanks looks to work well with my other indies

jwhtrades July 9th, 2011 03:37 PM

As always, your work is great. Love this wave indicator. Experimenting with this vs. GMMA. Very cool! Thanks

yuri515 July 2nd, 2012 06:10 AM

No Comment

jamesv May 14th, 2013 05:56 AM

Am looking forward to trying this one out, thanks.

goodtrader May 28th, 2013 12:11 AM

Portland July 17th, 2015 12:16 AM

I really like this one for filtering our chop.