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The principle of the indicator is to analyze the history of the currency pair and determine the beginning and end of the” force ” that moves the trend. It also detects the Fibonacci levels in the main window. The indicator also shows how long ago the local highs and lows were.

  • The waves on a separate chart below show the strength and at what stage of its movement the trend is. I.e. if the waves are just beginning to rise, then the trend is in the initial stage, if the waves have risen and are approaching the red line from above, then the trend will soon end and may turn in the opposite direction;
  • Use the indicator waves in the window below to determine the beginning and end of the current trend movement;
  • If the waves show that the trend has just started to gain strength (i.e. if the wave has not reached the middle of the window with waves), it means that the trend is likely to continue its movement in the current direction and this is a signal that you can open a position in the direction of the trend;
  • If the waves show that the trend is already ending its movement (i.e. the wave has reached the red line), it means that the trend will soon turn around, this is a sign that it will soon be possible to open a position in the opposite direction of the current trend;
  • The indicator also automatically shows the Fibonacci levels, which opens up extensive trading opportunities for a variety of strategies related to the Fibonacci levels;

    The essence of the strategy is that we open a position after the price on the chart has strayed from one of the three fibo levels (This is 38.2%, 50% or 61.8%) and at the same time formed another correction below this level. The entry occurs on any of the lines of the constructed Fibonacci grid for a new correction in the direction of the current trend;

  • The Fibonacci levels can also be used to set the stop loss and take profit levels.
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The essence of the strategy is that we open a position after the price on the chart has strayed from one of the three fibo levels (This is 38.2%, 50% or 61.8%) and at the same time formed another correction below this level. The entry occurs on any of the lines of the constructed Fibonacci grid for a new correction in the direction of the current trend;

  • The indicator works on any timeframe;
  • Works on any currency pair;
  • Combines several indicators for a full-fledged market analysis;
  • Shows the current state of the trend in real time, which makes it possible to understand where and when the trend will end and a new one will begin;
  • All indicators are drawn automatically, you will not need to spend time on it;
  • All indicators automatically adjust to the market movement, you will not need to re-configure them when the market moves;
  • It combines many trading opportunities for different strategies.

  • Waves (default 200) – the number of analyzed bars in the history of the currency pair. It affects the length of the displayed indicator wave on the chart. The higher the value, the longer the wave and the more accurate the indicator works;
  • Show Fibo (default is true) – enable / disable the display of automatic Fibonacci lines on the chart.
  • Do not set the Waves parameter to more than 400;
  • For the indicator to work correctly, the history must be loaded on the currency pair. You can download it in the “Symbols” tab in the main panel at the top of the MetaTrader 5 trading terminal.
  • If the indicator blinks or freezes slightly, it means that it does not have enough history and needs to load it.
  • Do not set the Waves parameter to more than 400;
  • For the indicator to work correctly, the history must be loaded on the currency pair. You can download it in the “Symbols” tab in the main panel at the top of the MetaTrader 5 trading terminal.
  • If the indicator blinks or freezes slightly, it means that it does not have enough history and needs to load it.

Enjoy your trading!

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Published

07 April 2017

Updated

06 April 2020

Current Version

2.54

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Павел February 18, 2021 7:09 am
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This is simply not the holy Grail. This sign just does its job completely!

Mazurka February 18, 2021 7:09 am
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The Terror!!! I am just not so sorry for my funds, which you certainly will never come back to individuals who purchased your \” function\”,\n\n simply how much would it be a shame for those you mislead with such items, this indication especially\n\n a whole breakup, when altering the timeframe. the picture alterations, and you will select M5 for instance three times and all of thrice the picture\n\n different, then displays two stones, then one, and is also redrawn as it needs to be.