This indicator for ProRealTime, identifies Wolfe Waves Pattern at Breakout of oblique trendline. It works in all markets and for any timeframe! See below examples:
HOW DOES THE INDICATOR WORKS:
The “Wolfe wave pattern” is formed by 4 consecutive waves bounded in a triangular figure.
The Ordered in points n.2, n.3, n.4 and n.5, forming two triangular figures with a vertex in common, the point n.5 corresponds to the vertex of the second triangle. Point 5 confirms the figure when it is above an imaginary line (a), passing through point n.1 and point n.3.
The Wolfe wave theory predicts that, if the price crosses in direction contrary to the imaginary line (a), passing through point n.1 and point n.3, the market trend will reverse the previous direction, until reaching a second imaginary line (b) passing through point n.1 and the point n.4.
So the pattern gives you clear signals of market reversion with an entry point and a target point. A complete strategy in one pattern!
Ths indicator give you signal of breakOut .
This indicator, when it detects a Wolfe Wave, will plot it on the price chart with the following information:
- Straight line passing through point n.1 and n.3
- Arrow indicating market forecast according to the theory.
Interface of the indicator:
- ZigZagPerc : Enable or disable the PricePercent variable.
- PricePercent: Value of the percentage difference between a new high and a new low. This variable affects the size of the Pattern.
- Dynamic: Enable or disable the dynamic variable.
- Factor: Variable of the “Dynamic” function, this function allows automatic detection of patterns based on market volatility.
- ZigZagVal: Enabled or disabled the PointsValue variable.
- PointsValue: Value of the difference expressed in points, between a new maximum and a new minimum. This variable affects the size of the Pattern.
- FractalPoint: Enable or disable the Period variable.
- Period: Value of the time difference, between a new maximum and a new minimum. This variable affects the size of the Pattern.
- ZigLine: Show Zig Zag line to set the parameters quickly
You can activate the alarms on the market of your choice, for the time frame you prefer, and a notification will appear on the screen when the signal is triggered.
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Wolf Waves patterns
The most effective technical pattern in any market
Advantages of using the “Wolf Waves Pattern” indicator:
- Automatically identifies the Wolf Waves patterns
- Compatible with all instruments
- Compatible with all ordinary timeframes and even on tick-charts!
- Compatible with Heikin ashi, Renko, Ticks, Kagi, Three Line Break, and more
- Patterns are completely customizable to suit your own trading style
- The indicator does not repaint! The signal is given in real-time and allows you to operate without any delay
- The indicator can be integrated into any indicator, using ProRealTime’s ProBuilder function
- The indicator can be integrated into any automated trading strategy, using ProRealTime’s ProBackTest and ProOrder function
- We offer for free the screener once you have bought this product.
This product works in any Futures, Forex or Stock/ETF Markets
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