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Wave indicator

From https://nexusfi.com/elite-circle/693-wave-indicator.html

The inspiration came from websouth's template, which I started a discussion on here:
https://forum.bigmiketrading.com/general-discussion/691-websouths-shared-price-action-templates.html

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

Category The Elite Circle

Details: Wave indicator
Category: The Elite Circle

June 13th, 2010
Size: 4.12 KB

Keywords: bmt wave

Comments/ratings

Zondor June 17th, 2010 02:32 PM

I optimized the C# code by predefining the instances of the EMA's. ZTR will be posting the optized version, v3, which runs much faster than the original.

Druid July 13th, 2010 05:34 PM

Very useful! Thank you!!

minsalaco February 2nd, 2011 01:48 PM

Mike: I've loaded the Wave Indicator but looks different from your four screen shots in that the entry and exit indicators that are below the price action are missing. For this indicator, what are you using for entry and exit points? Is there another indicator I should be using with the Wave Indicator? Thanks in advance.

TakingStock12 October 6th, 2014 11:37 PM

Very nice indicator Mike! Very helpful -- thanks!

ShaunG October 16th, 2014 10:20 AM

I am not a hundred present sure how it work's Mike! Sure is a thing of beauty! Thanks!

bobc635 January 10th, 2016 07:01 PM

Thanks Mike.... looks very nice. Playing with PnF on CL futures. PnF seems to give a better look for my eye... I am liking it.

Bob

moneypenny May 8th, 2017 10:13 AM

Mike - This indicator has made more difference in my trading than any other so far! THANK

YOU!!!!!whoo: