This Indicator is applicable to plot wave charts as per the NeoWave method (Neely Extension of Wave Theory). NeoWave is a scientific, objective and revolutionary style of Elliott Wave Theory that was invented by Glenn Neely in 1990 in the “Mastering Elliott Wave” book. To start analyzing with this method, we need a particular chart called the Wave Chart or Cash Data chart. This is the first step for a good wave analysis. To draw this chart, Highs and Lows should be plotted in the order that they occurred. This could be a very challenging and time-consuming task to do for any symbol on any Timeframe.
This Indicator can accurately Find High and low in each Period and draw them in the order that they occurred. for any Symbol on any Timeframe automatically and in real-time. For example on Monthly timeframe, indicator separates each year and find high and low on the period. Then it recognizes which occurred early and plot them in order that occurred. this called "Yearly Wave Chart" and you can start to analysis it, base on Neowave method.
Important: This Indicator Works on All Type of Accounts
Some features of this Expert Adviser are:
- Draw Wave Chart on yearly, monthly, weekly, daily, hourly and minutely timeframes - Draw Wave Chart on any integer multiples of above timeframes - Switch between Wave Chart and Candlestick Chart simultaneously - Online auto updating Wave Charts - Possibility of putting watermarks - Show Monowaves count - Show Suspicions Monowave (where high and low occur on same Bar)
- Show Triple Monowave (where high or low occur twice on a period) - Show Monowaves count - plotting wave chart base on Calendar and bar count - Show Monowaves count - plotting wave chart on Equal distances
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Added Zoom item in indicator settings for wave chart. (user can change zoom of wave chart)
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Add "Show date" option on Settings to display date of wave chart on each point as Tooltip .
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Improve "Show Date" option
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Improve Equal distance option at Minutely Time Frame.
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Add Zoom option for wave charts on any Time Frame Add ability to plot wave chart in the past time on Custom Cash data Mode