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REGISTER PARTICIPANTS Indicator Pz Wolfe Waves Mt4

Discussion in 'Technical Indicators MetaTrader 4' started by Emma McNeill, Nov 3, 2020.

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  1. Emma McNeill

    Emma McNeill Moderator
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    PZ Wolfe Waves

    #pzwolfewaves

    pz-wolfe-waves-logo-200x200-3986.png

    Wolfe Waves are naturally occurring trading patterns present in all financial markets and represent a fight towards an equilibrium price.
    These patterns can develop over short and long-term time frames and are one of the most reliable predictive reversal patterns in existence,
    normally preceding strong and long price movements.

    [ You are not allowed to view links. Register or Login
    Guide< | You are not allowed to view links. Register or Login
    Guide< | You are not allowed to view links. Register or Login
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    Products< ]

    • Clear trading signals
    • Amazingly easy to trade
    • Customizable colors and sizes
    • Implements performance statistics
    • Displays suitable stop-loss and take-profit levels
    • It implements email/sound/visual alerts
    The indicator draws the pattern and the breakout arrow simultaneously to prevent the indicator from repainting the pattern as it expands.
    However, it might repaint sparingly -not very often-, if the entry breakout happens many times, causing the indicator to re-draw. The
    indicator is non-backpainting.

    Definition of Wolve WaveA wolfe wave must have the following characteristics. ( You are not allowed to view links. Register or Login
    here to see an example<)

    • Waves 3-4 must stay within the channel created by 1-2
    • Wave 4 is within the channel created by waves 1-2
    • Wave 5 exceeds trendline created by waves 1 and 3
    Input Parameters

    • Amplitude - The amplitude represents the minimum amount of bars between alternative price points. To find big patterns, increase the
      amplitude parameter. To find smaller patterns, decrease the amplitude parameter. You can load the indicator many times in the chart to
      find overlapping patterns of different sizes.
    • Breakout Period - Donchian breakout period to confirm wolfe waves breakouts. Zero means not used.
    • Max History Bars - Amount of past bars to evaluate when the indicator loads in the chart.
    • Display Stats - Show or hide the statistics dashboard and performance data.
    • Display SL/TP Levels - Show or hide suitable SL and TP levels for each signal.
    • Display Price Labels - Show or hide the pattern price labels.
    • Drawing Options - Colors and sizes for bullish or bearish lines and labels, as well as font sizes.
    • Breakouts - Colors and sizes for breakout arrows.
    • Alerts - Enable or disable alerts at will.
    Author

    Arturo López Pérez, private investor and speculator, software engineer and founder of Point Zero Trading Solutions.

    pz-wolfe-waves-screen-3756.png pz-wolfe-waves-screen-1946.png pz-wolfe-waves-screen-9437.png

     

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