The Weiss wave indicator is based on the theory of Richard Wyckoff. It works on all timeframes, flat and tick charts. It can be applied to any market.

The indicator adds the volumes of the corresponding price waves and draws a cumulative histogram. Each price wave moves in a certain direction up or down until it changes. For the indicator wave to unfold, the price must exceed the number of points (pips * 10) set in the indicator parameters. Therefore, the last wave is redrawn, but the theory behind this trading method predicts the direction of the market, reading mainly the previous waves.

At the end of the wave, its volume is displayed along with the distance covered by the price, in pips.

In addition, you can set up alerts (pop-up, email, audio) if the total volume of the current wave exceeds a certain number specified in the parameters.

Trading Strategies:

• Difference: the number of points required to reverse the current wave and form a new one
• VolDivBy: divisors of the volume, which allows to avoid the display of large numbers

The parameters of the waves and labels

• ShowLabels: display the volume of each wave, as well as its value in pips
• ShowWaveLine: display the wave line on the price chart
• LabelShift: Shift the label volume and pips
• FontSize: the font size of the labels
• FontColorUp: the font color of the labels on the rising waves
• FontColorDn: the font color of the labels on the descending waves
• FontColorNow: the font color of the labels on the current forming wave
• WaveColor: the color of the wave line on the price chart
• WaveWidth: the width of the wave line

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Alert parameters

Data displayed by the alert function: pair, Period, Hign Dn Volume/High Up Volume, and time.

• TriggerCandle: the number of the candle on which the alert is triggered
• VolSize: cumulative volume when the alert level is exceeded
• EnableNativeAlerts: a pop-up window
• EnableSoundAlerts: Sound alert
• EnableEmailAlerts: Emails
• SoundFileName: The alert.wav audio file for the audio alert

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