MTF Wave Stochastic RSI [Cryptoheat]MTF Wave Stochastic RSI is a multiple time frame Stochastic RSI, based on 3 different timeframes, layered on top of each other. This is a very useful tool when used to confirm and identify Elliott Waves and sub-waves at once.
Each of the three curves is based on a different time frame. While the blue (K2) curve is the current time frame, the gray (K1) is of a faster time frame which is roughly around a third of the time and the green (K3) is of a slower time frame, roughly around 3 times the current time frame. The gray and green curves are based on specific settings that were back-tested and proved more efficient.
Reasoning behind this indicator is that although the normal Stochastic RSI can show divergences more sensitively and faster than the normal RSI indicator, it cannot do so while showing a larger duration backwards in an accurate way for comparisons. It can also not show wave structures and substructures, but rather a top or bottom reversal regardless of the wave structure hierarchy and wave strength. However when several time frames are combined in one indicator, they can reveal much more information about the chart as they can show larger durations next to smaller ones. Therefore they can be used as a confirmation and helper tool to identify Waves and Sub-waves.
This can be done, by looking first at the green curve (slowest RSI) and identifying full moves. A full move is a move from being oversold to overbought and back to being oversold again. A move can be the opposite as well. By identifying the beginning and end of a move of the larger time frame stochastic RSI this can help you see the two waves in each move. One wave up and one wave down. The peak of that wave can be seen either at the highest point of the in-between peak of the green curve or by one of the smaller time frame stochastic RSI tops when the green one is diverging. A look at the price action and application of Elliott Wave knowledge is mandatory, as this indicator is mainly a confirmation tool.
By back-testing it you can see that the larger time frame Stochastic RSI can show you full impulse and corrective waves most of the times, while the lower time frame stochastic RSI should be viewed as potential sub-waves of that main wave structure. Also noticeable are the divergences that can be seen often on the larger time frame Stochastic RSI..
Please note that this tool is not recommended to be used alone as like many indicators, this is a confirmation tool that can help in identifying rather than predicting…
Also for best results Elliot Wave knowledge is recommended…
I prefer to use this indicator along with a normal Stochastic RSI on top of it so I can always see which of the three curves is of the current time frame, making it easier to understand the chart. I also prefer using the normal RSI and MACD with it…
Pesquisar nos scripts por "wave"
Super and Simple Wave Trading
According to Dow theory, market has three movements, main movement, medium swing and short swing.
Dow theory is very easy to understand with multiple time frame, and probably we can say real market has more than three movements. For example, every time frame, whether it’s 1min, 5 min 30min or Day, Week, Month, has its own ups and downs, like waves in the ocean.
“Super and Simple Wave Trading” presents underlying reverse “price waves” in each time frame. With easy and simple plot, one can intuitively see when the price is above the ocean or under the water. This advanced algorithm is purely rely on price movement and it targets to filter out most noises with super fast response to the price movement.
Besides plotting current resolution wave, “Super and Simple Wave Trading” also plots higher resolution bar and higher resolution wave under current resolution. For example, if current chart resolution is 1min, this indicator can plot 1min wave and 5min bar and wave.
When use this indicator, recommend plotting 2 panes on your screen, upper pane is current resolution candles with current resolution wave, the below pane is higher resolution bar and wave. So one can always get a very clear picture that how price is moving under different time frame. Recommend time frame chain in this indicator is 1m-5m-30m-180m-D-W.
The wave(shaded color area) is plotted under light(white) background, black background won’t show clearly
Some trading suggestions:
While having a whole picture of higher or even higher resolution price wave, always focus on your comfortable current time frame, surf on it. Whether it’s stop loss or taking profit, it’s happening on current wave.
Do not over trading is still a golden rule. Especially in a ranging market, like after hours stock market, the range is so tight that trading is not profitable. Although with this indicator, the loss is always minimal, however, remember the saying: “death by a thousand paper cuts”
Stop loss is always strongly recommended. “Super and Simple Wave Trading” will directly show you the entry and when to exit, however, stop loss is always the last line of defense to protect you.
AustinJames: Yume Wave 2.0This is the all-access version of the Yume Wave 2.0
The wave uses the bottom, top, and mid line as resistance points. The upper limit is the resistance, the lower limit is support - and the middle line is the support when wave is above it, and resistance when wave is below it.
Check against trend lines to find the best buy/sell point based on the wave. The timeframe you select with the trendline should match the yume wave.
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This is a upgraded version of the wave with modified parameters for a higher success rate. 3 New Lengths and 75 more lines of code added to the overall algorithm. Also included are 2 sublevel signals based on the Fib MA and pattern trading.
The Wave:
+ The Yume is the Fast length
+ The Akume is the Slow length
+ The Miaku is a median weighted length
+ The Upper Limit is an overbought asset indication
+ The Lower Limit is an oversold asset indication
+ The Wave is the spread between Yume and Miaku
Bullish Indications:
+ The Yume is above the Akume
+ The Yume is above the Miaku
+ The Yume is below the Lower Limit
Bearish Indications:
+ The Yume is below the Akume
+ The Yume is below the Miaku
+ The Yume is above the Upper Limit
Signal Strength Weights:
+ 50 = Yume Wave crossed a Limit Line
+ 100 = Yume Wave crossed a Limit Line + Close to a Fib Moving Average
+ 100 = Edge's Market Bottom/Top Algorithm is marked 'True'
Setting up Signals (Based on a 100 Signal Height):
+ Set the "Bull Signal" to be at 50 or 100
+ Set the "Bear Signal" to be at 50 or 100
+ 50 is Agressive, 100 is Conservative.
+ Bull/Bear are separate so you can play conservative bull with aggressive bear.
CryptoWave Pro v2CryptoWave Pro v2 delivers the same great wave algorithm as the previous version, but offers more customisation options to allow power users to fine tune every last piece of the puzzle.
In addition to the wave you'll now see the following :
Yellow line = RSI
Red and Green lines (above and below the waves dots) = RSI OB and OS
White lines + labels = Wave Divergence indicator - Showing Regular and Hidden divergences
Coloured Bar at bottom = Money Flow - Bright Red = OS, Bright Green = OB
Super clean and easy to read at a glance, CryptoWave Pro v2 is the upgrade you've been waiting for!
Hashem Helper -TwoHashem Helper Two
This Indicator contains many indicators and mixture of them.
RSI+MFI = Green and Red Cloud (Above 0 is Green, Below 0 is Red)
StochRSI (K = Aqua, D = Purple)
WaveTrend (Not shown directly but used in the bigger Aqua and Purple Cloud Waves)
VWAP (Volume-Weighted Average Price) = Yellow Cloud Around 0 Line.
The Blue WaveCloud ( which is a Fast Momentum ) and the Purple WaveCloud ( which is Slow Momentum ) is the result of the mixture.
Basically when Fast Wave crosses the Slow Wave, It's a setup and the price momentum is probably going to follow the wave as a "Probable Signal". (when cross happen, a Red or Green Circle is plotted on the 60 or -60 Line)
The idea here is that you are looking for a big momentum wave( Purple Cloud ), followed by a smaller trigger wave ( Blue Cloud ).
In addition the Divergences on StochRSI and RSI and WaveCloud are analyzed. This indicator shows Normal Divergences (R) and Hidden Divergences (H) on itself. But the point is YOU with your TA should must that. So it's NOT an "Absolute Signal". Human eye is needed to interpret the false and true signals.
Divergences on StochRSI and WaveClouds are shown with actual Green/Red Lines (R/H) and on RSI are shown with Shapes on the its line.
Bullish Divergence = Aqua Triangle
Hidden Bullish Divergence = Aqua Circle
Bearish Divergence = Purple Triangle
Hidden Bearish Divergence = Purple Circle
When you see these shapes on the RSI , it tells you: Hey, Watch the RSI and Price, A Divergence could be there but it's not confirmed. you need to confirm it with your own TA.
Note that this is a Helper Indicator, NOT a Short/Long Signal Indicator. This should be used alongside with your TA.
Simpler Trading C WaveABC Waves Indicator
The ABC Waves were built by a third party developer from an algorithm comprised of various moving averages and oscillators. The idea behind the waves is to visualize the overall strength and direction of a given market across multiple time frames.
There are 3 separate waves that make up the ABC Waves. The “A Wave” measures short term relative strength and direction of a market, the “C Wave” measures longer term strength and the “B Wave” plots the same for a medium time period.
www.simplertrading.com
Simpler Trading B WaveABC Waves Indicator
The ABC Waves were built by a third party developer from an algorithm comprised of various moving averages and oscillators. The idea behind the waves is to visualize the overall strength and direction of a given market across multiple time frames.
There are 3 separate waves that make up the ABC Waves. The “A Wave” measures short term relative strength and direction of a market, the “C Wave” measures longer term strength and the “B Wave” plots the same for a medium time period.
www.simplertrading.com
Simpler Trading A WaveABC Waves Indicator
The ABC Waves were built by a third party developer from an algorithm comprised of various moving averages and oscillators. The idea behind the waves is to visualize the overall strength and direction of a given market across multiple time frames.
There are 3 separate waves that make up the ABC Waves. The “A Wave” measures short term relative strength and direction of a market, the “C Wave” measures longer term strength and the “B Wave” plots the same for a medium time period.
www.simplertrading.com
Momentum Charge Theory (MCT)-(TechnoBlooms)The Momentum Charge Theory (MCT) Indicator is an advanced physics and mathematics-inspired trend detection system designed to identify market energy shifts with precision. Unlike traditional indicators that rely on static formulas, MCT integrates entropy, volatility, kinetic energy, and wavelet transforms to map price dynamics in real time.
Built on Scientific Principles – This indicator applies quantum-inspired charge-discharge mechanics to spot early trend formations and reversals. Think of price action like an energy system: it charges (builds momentum) before an explosive move and discharges when that energy dissipates.
Core Concepts Behind MCT
1️⃣ Directional Market Entropy – Measuring Trend Strength
Entropy quantifies market randomness – is the trend structured or chaotic?
✅ A high-entropy market is uncertain (choppy price action), while a low-entropy market signals a strong directional trend.
✅ MCT normalizes entropy, allowing traders to differentiate trend acceleration from market noise.
2️⃣ Information Flow Volatility – Identifying Breakout Zones
Inspired by Econophysics, this component measures volatility based on information flow rather than simple price movements.
✅ Helps spot high-volatility breakout conditions before they occur.
✅ Filters out false breakouts caused by random market noise.
3️⃣ Kinetic Energy Momentum (KEM) – The Physics of Price Acceleration
Just like in physics, momentum is a function of mass and velocity – in trading, this translates to volume and price change.
✅ Uses kinetic energy equations to identify price acceleration zones.
✅ Helps detect momentum shifts before price visibly reacts.
4️⃣ Hilbert Transform Approximation – Slope & Trend Direction Analysis
Applies Hilbert Transforms to estimate trend angle shifts.
✅ Detects momentum decay and early reversal signals.
✅ Captures the true trend slope rather than relying on lagging moving averages.
5️⃣ Wavelet Transform – Advanced Noise Filtering & Trend Confirmation
Market movements contain multiple frequencies – wavelet transforms isolate dominant trends while removing short-term price noise.
✅ Improves trend clarity by reducing false signals.
✅ Acts as a final confirmation filter before generating Charge & Discharge signals.
Charge & Discharge – The Energy Behind Market Moves
🔹 Charge (Uptrend Activation)
A blue triangle appears below the candle when market conditions align for a strong bullish move.
📈 Indicates momentum buildup, low entropy, and trend strength confirmation.
🔸 Discharge (Downtrend Activation)
A purple triangle appears above the candle when price momentum weakens and market entropy increases.
📉 Suggests a potential trend exhaustion or reversal.
Best Use Cases for Traders
✅ Momentum Traders – Catch trend initiations before they gain full traction.
✅ Breakout Traders – Identify high-information flow zones with volatility-driven signals.
✅ Trend Followers – Avoid false signals by relying on entropy-driven confirmations.
The MCT indicator can be combined with any of your usual indicators for trend confirmation.
Quarterly Sine Wave with Moving Averages - AYNETDescription
Sine Wave:
The sine wave oscillates with a frequency determined by frequency.
Its amplitude (amplitude) and vertical offset (offset) are adjustable.
Moving Averages:
Includes options for different types of moving averages:
SMA (Simple Moving Average).
EMA (Exponential Moving Average).
WMA (Weighted Moving Average).
HMA (Hull Moving Average).
The user can choose the type (ma_type) and the length (ma_length) via inputs.
Horizontal Lines:
highest_hype and lowest_hype are horizontal levels drawn at the user-specified values.
Quarter Markers:
Vertical lines and labels (Q1, Q2, etc.) are drawn at the start of each quarter.
Customization Options
Moving Average Type:
Switch between SMA, EMA, WMA, and HMA using the dropdown menu.
Sine Wave Frequency:
Adjust the number of oscillations per year.
Amplitude and Offset:
Control the height and center position of the sine wave.
Moving Average Length:
Change the length for any selected moving average.
Output
This indicator plots:
A sine wave that oscillates smoothly over the year, divided into quarters.
A customizable moving average calculated based on the chosen price (e.g., close).
Horizontal lines for the highest and lowest hype levels.
Vertical lines and labels marking the start of each quarter.
Let me know if you need additional features! 😊
Fractal WavesSummary of the "Fractal Waves" Indicator
The "Fractal Waves" indicator is a multifaceted trading tool designed for TradingView that combines various technical analysis methods to help traders identify potential market trends and trading opportunities. It overlays multiple analyses directly onto price charts, providing a comprehensive visual representation of market dynamics.
Key Features:
Fractal Wave Detection and Visualization:
Purpose: Identifies fractal highs and lows to signal potential trend reversals or continuations.
Functionality: Calculates fractal highs, lows, and midpoints on both the current and an additional user-selected timeframe. Plots lines at these fractal points with color coding to distinguish between bullish and bearish trends. Fills areas between fractal highs and lows with background colors to enhance visual cues. Updates fractal lines dynamically as new fractals are identified. Multiple Time Frame Moving Averages (MTF MA):
Purpose: Provides insight into trend directions across different timeframes.
Functionality: Allows plotting of up to three customizable moving averages from different timeframes on the current chart. Users can select the type of MA (SMA, EMA, DEMA, VWMA, RMA, WMA), length, resolution, and color. Optionally displays labels showing MA details like type, length, and resolution for clarity. Bar Pattern Identification (Inside and Outside Bars):
Purpose: Highlights specific bar patterns that may indicate market indecision or breakout potential.
Functionality: Detects inside bars (where the current bar's range is within the previous bar) and outside bars (where the current bar's range exceeds the previous bar). Colors bars based on whether they are bullish or bearish inside/outside bars using user-defined colors. Utilizes "The Strat" methodology to assign numbers (1 for inside bars, 2 for directional bars, 3 for outside bars) and plots them above the bars. Wicked Wicks Visualization:
Purpose: Highlights significant wicks that may indicate rejection at certain price levels.
Functionality: Identifies long upper wicks (top wicks) and lower wicks (bottom wicks) relative to previous bars. Plots custom candles to emphasize these wicks with specific background and border colors. Aids in recognizing potential reversals or strong buying/selling pressure. Volume Weighted Average Price (VWAP):
Purpose: Helps identify the average trading price weighted by volume, acting as dynamic support or resistance.
Functionality: Calculates and plots the daily VWAP, updating at the start of each session. Changes VWAP line color at session start for visual differentiation. Applicable primarily to intraday charts (60-minute timeframe or lower). Volume and Extreme Volume Reversal (EVR) Analysis:
Purpose: Detects areas of unusually high volume that may precede price reversals.
Functionality: Tracks the highest volume bars of the current and previous day. Plots boxes and lines to highlight extreme volume areas. Changes candle colors for high-volume bars to draw attention. Calculates and plots potential reversal levels based on extreme volume. Rate of Change (ROC) and Average True Range (ATR) Ratio Analysis:
Purpose: Assesses price momentum relative to volatility to predict trend changes.
Functionality: Calculates the ROC and ATR over specified lengths. Computes the ratio of ROC to ATR to gauge momentum. Plots bullish or bearish dots on the chart when ROC-ATR ratio aligns with the fractal trend, indicating potential trend shifts. Provides alerts when a new bullish or bearish trend is detected. Average Volume Weighted Average Price (AVWAP) with Dynamic Lookback Periods:
Purpose: Identifies key price levels based on volume-weighted averages over specific lookback periods.
Functionality: Calculates AVWAPs from the highest and lowest points over dynamic or manual lookback periods. Adjusts lookback periods automatically based on the current chart timeframe or uses user-defined periods. Plots AVWAP lines and fills the area between them, highlighting overlaps which may signify significant support/resistance levels. Fractal Wave Table Across Multiple Timeframes:
Purpose: Provides a quick overview of fractal trends and inside bar patterns across various timeframes.
Functionality: Displays a table at the bottom of the chart showing fractal wave values and inside bar statuses for timeframes from 5 minutes to monthly. Uses color coding to indicate bullish or bearish trends and whether the price is above or below the fractal wave. Indicates inside bars with symbols and colors to quickly identify consolidation periods. Alert Conditions:
Purpose: Keeps traders informed of significant market events without constant monitoring.
Functionality: Triggers alerts for: Bullish or bearish trend changes when the ROC-ATR ratio aligns with the fractal trend. Price crossing above a fractal high or below a fractal low. Formation of new bullish or bearish fractals. EVR-based potential long or short opportunities.
Usage Notes:
Customization: The indicator offers extensive customization options, allowing users to adjust colors, timeframes, calculation periods, and display preferences to suit their trading style. Timeframe Considerations: Some features, like EVR analysis and intraday VWAP, are optimized for intraday timeframes (up to 60 minutes). The indicator adjusts calculations and visualizations based on the current chart's timeframe. Comprehensive Analysis: By combining multiple technical analysis tools—such as fractals, moving averages, volume analysis, and bar patterns—the indicator provides a holistic view of market conditions. Visual Clarity: The use of color coding, labels, and symbols enhances visual interpretation, making it easier for traders to identify patterns and trends at a glance. Alerts and Notifications: Built-in alert conditions help traders stay informed of key market developments, enabling timely decision-making without the need for constant chart monitoring.
Conclusion:
The "Fractal Waves" indicator serves as an advanced analytical tool that synthesizes various technical indicators to support traders in market analysis. By overlaying fractal patterns, moving averages from multiple timeframes, volume analysis, and bar patterns onto price charts, it aids in identifying potential trading opportunities and understanding market dynamics across different timeframes. The combination of visual cues and alert notifications makes it a valuable asset for traders seeking deeper insight into market behavior.
Hull Volume WavesInspired by the works of David Weis, this indicator is an alternative to his classic Weis Volume Waves.
As the name implies, this indicator uses a Hull Moving Average to detect price swings, and calculates the cumulative volume for each of them, separating the up swings from the down swings.
The chosen length of the HMA determines the size of each swing, meaning lower lengths will detect microswings while higher lengths will only include the main swings.
The length of each swing also determines the color of the upward and downward waves, and you can choose 2 colors each to generate a bullish and bearish gradient.
Extreme values are highlighted in the background. The indicator will compare the current up wave to the last N up volumes, or the current down wave to the last N down volumes. The lookback length can be changed in the menu.
I hope you find it useful!
WhaleCrew VisionVision is an advanced momentum oscillator that visualizes momentum strength with overbought and oversold readings.
Features
Momentum Waves
Divergence Detection (regular and hidden divergences)
Detection for momentum shifts (detects higher lows/lower highs on the oscillator)
Detection for momentum stagnation
Moneyflow
Most important: Our Custom Strategy Builder
Custom Strategy Builder
The custom strategy builder is a framework that allows you to easily create custom strategies.
1. Configure long/short conditions
Pre-defined conditions for custom timeframes, under which you're looking to potentially enter a trade.
2. Configure trigger
Select a trigger (e.g. "Wave Cross" or "Wave Lower High") to generate labels/alerts for potential entries, whenever long/short conditions are met.
3. Configure Take Profit Conditions
Potential Take Profits are triggered by momentum stagnation.
4. Backtest your strategy
By using our open-source backtester script (published on our profile).
5. Trade responsibly
Manually review each signal/alert before taking any actions.
Note: The "Strategy Backtest" input section can also help you develop your strategy.
Usage
You can use this indicator to follow the trend, detect momentum shifts or memorize patterns.
Take a systematic approach by using our strategy builder.
Access to this indicator can be obtained through our website.
[BETA] Wolfe WaveThis script will automatically plot Wolfe Waves. Entry candles are labeled "Entry." This script is in beta, so there are some limitations as follows:
- Currently only plots BULLISH Wolfe Waves (bearish to come in a future update)
- Only shows Wolfe Waves that are within the last 100-150 bars
- Only shows one Wolfe Wave at a time
- Will delete the Wolfe Wave once wave 1 is more than 100-150 bars ago. You can use the drawing tools to draw over the wave to save it forever.
Weis Wave Volume NumbersWhat is it?
This is an indicator to complement @modhelius' Weis Wave Volume Indicator.
Original code has been modified to display wave volume (cumulative) numbers above or below the latest candle of the corresponding wave on the main pane. Since we are concerned only with relative volume, VOLUME NUMBERS HAVE BEEN SCALED DOWN. (If you need actual volume numbers, uncheck "Scale Down Volume" option in Settings). Rising wave volume is denoted in green. Falling wave volume is denoted in red. Developing wave volume is postfixed with a '_'. Confirmed wave volumes won't have this.
Who is it for?
This indicator is useful if you already use Weis Waves in your analysis and could do with an additional numerical representation of the wave volume on the main pane. Can be used in conjunciton with @modhelius' Weis Wave Volume (WWV) indicator (need to be added separately) to complement the visual representation of the waves. Can be used independently as well.
Pelase note that if you use any other Weis Wave indicator (other than @modhelius'), the numbers and the waveforms might not match.
Statistical pivot wave - Average periods and drawdownsStatistical pivot wave - Average cycle periods and drawdowns (and assuming there is a trend)
How does these cycle periods and drawdowns come from?
Collecting the data from the last 70 pivot waves. Pivot waves are defined by once a new pivot low is recognized.
Explanation of variables:
Period(i) : Timespan from one pivot low to its previous pivot low.
Drawdown(i) : Max drawdown (from 22 bars lookback high + trend adjustment)
Trend(up / down): Historical linear regression
Median cycle: Median value of Period(i), based on i=1 to i=70 pivot waves data.
Median drawdown: Median value of Drawdown(i), from the trend projected high, based on i=1 to i=70 pivot waves data.
PSWave‴ | Price Spread Wave‴What does it do?
This indicator allows you to identify possible top and bottom reversals by having a prior Spread Price Volume reversal identifiable by positive (top reversal) and negative (bottom reversal) waves.
How does it work?
Everytime the wave starts ending its movement by shrinking the size of the histogram bars, it might be signing that a price reversal is on its way. It is possible to adjust the wave shape by increasing/decreasing its gradient value analysis, but it's so easy to use that most of the times no reconfiguration is needed, just add it and let it guide you.
What's my filling?
I've been testing this indicator for weeks and so far with incredible reversal signals specially if working in conjunction with Volume Wave (VolWave).
Indicator attributes:
- generally waves formation makes a symmetrical arc
- when the second half of a wave is elongated (compared to its first half), it suggests a lack of directional force of the current movement
- peak / bottom formation suggests reversal of the current movement
- smaller amplitude of a wave (compared to the previous wave) suggests loss of power, and vice-verse
- indicates divergence indication between peaks / bottoms
- when the volume bar touches the volume wave band, it suggests imminent reversal of the current movement
- band opening suggests movement increasing strength in that direction
- wavelengths (distance between two peaks / bottoms) tend to be similar
- subsequent wave rarely occurs
Technical information:
- the calculation of the positive movement is independent of the calculation of the positive movement
- the black line in the upper and lower zone is the average of the wave that is overcome, suggests strength in movement
- bands suggest delimitation of a wave's peak / bottom
To have access to this indicator, please DM me.
Don't contact me in the comment area.
Flunki Multi Sine WaveDec 1
Herewith 6 sinewaves, including amplitude, phase, wavelength in bars, colour and fill options.
May develop to include a bunch wavelength value presets, and other waveforms, and modulation options.
Enjoy the harmonics !
Release Notes: Cosmetic minor fix for fill colour
Added centre line
Release Notes: Added global fill transparency input option
Release Notes: Added a Global option to use the period value as the amplitude value too, more fun than it sounds...
Release Notes: Last update for now
Added input source level as sine waveform period, as a plot too.
Release Notes: Set the CLOSE plot to be able to accept other source inputs (even itself :)
Release Notes: Added a global bar period multiplier, and some other bits to the price modulated sine, invert and a separate amplitude multiplier
Added individual flip phase per oscillator, tweaked some defaults
** Had to republish due to TV rule miscellany **
Wyckoff Wave"The Wyckoff Wave is a weighted index consisting of 12 stocks that are leaders in their perspective industries. It was introduced by the Stock Market Institute in 1931.
Made up of leaders in the important stock groups, the Wyckoff Wave represents the core of the American industrial complex.
The Wyckoff Wave has been a market indicator for Wyckoff students for over 50 years. While the stocks comprising the Wyckoff Wave have changed over time, it continues to be a sensitive leading market indicator. The Wyckoff Wave has consistently identified market trends.
The Wyckoff Wave is extremely helpful in predicting the stock market’s timing and the direction of the next market move.
The Wyckoff Wave is analyzed in five minute intervals and individual up and down iintra-day waves are created.
These individual waves, which include the price action and volume during those brief up and down market swings, also provide the data for other important Wyckoff Stock Market Institute indicators, including the Optimism-Pessimism volume index and the Trend Barometer.
These 12 stocks that make up the Wyckoff Wave. They are listed, along with their multipliers, below."
Wave Stock / Multiplier
AT&T / 79
Bank of America / 50
Boeing / 39
Bristol Myers / 119
Caterpillar / 35
DowDuPont / 72
Exxon Mobile / 32
IBM / 21
General Electric / 90
Ford / 25
Union Pacific / 60
WalMart / 43
In 2019, DowDuPont split into three companies: Dow, DuPont, and Corteva. Because TV limits the number of securities in a script to 40, only Dow and DuPont are factored into the Wave calculation (higher market caps than Corteva) with a multiplier of 36 each.
Elliott Wave PivotsThis script is designed to catch high timeframe Elliott Wave Pivots. It will label in hindsight and is therefore NOT intended for any entries of any kind. Both labels and lines are drawn once confirmation comes that a wave has completed. You can set alerts to be informed of the completion of that wave.
There are are four degrees of waves recognized. The wave degrees are named minute, minor, major and primary. These do not necessarily reflect an exact timeframe based on the name, rather it reflects the degree of the waves compared to the next. Minute being the lowest degree shown and primary being the highest.
In essence, a minute wave on the indicator will reflect a daily pivot. Each degree higher reflects a higher timeframe pivot that can be used to form an Elliott Wave count. The minute waves can be a bit noisy. View the higher timeframe waves to see structures before narrowing down to the lower timeframes.
To my knowledge, this indicator is unique in it's mission and execution. With that in mind, there can definitely be bugs. Feel free to reach out to me with feedback.
Renko Weis Wave VolumeThis is live and non-repainting Renko Weis Wave Volume tool. The tool has it’s own engine and not using integrated function of Trading View.
Renko charts ignore time and focus solely on price changes that meet a minimum requirement. Time is not a factor on Renko chart but as you can see with this script Renko RSI created on time chart.
Renko chart provide several advantages, some of them are filtering insignificant price movements and noise, focusing on important price movements and making support/resistance levels much easier to identify.
As source Closing price or High/Low can be used.
Traditional or ATR can be used for scaling. If ATR is chosen then there is rounding algorithm according to mintick value of the security. For example if mintick value is 0.001 and brick size (ATR/Percentage) is 0.00124 then box size becomes 0.001. And also while using dynamic brick size (ATR), box size changes only when Renko closing price changed.
This tool is based on the Weis Wave described by David H. Weis (a Wyckoff specialist). The Weis Waves Indicator sums up volumes in each wave. This is how we receive a bar chart of cumulative volumes of alternating waves and The cumulative volume makes the Weis wave charts unique.
If there is no volume information for the security then this tool has an option to use “True Range” instead of volume .
Better to use this script with the following one:
Enjoy!
Market Waves Omega All-In-One IndicatorMarket Waves Omega Indicator consists of 5 separate indicators wrapped into one display area, which makes it easy to see all the information in one go.
Momentum waves
The main area of Market Waves Omega Indicator are the momentum waves, this shows bear and bull divergence as shown on the diagram below:
The idea here is that you are looking for a big momentum wave, followed by a smaller trigger wave. At that point, the price will move accordingly. Note the lighter blue peaks, when these light blue peaks cut in, it’s the end of that trend and the actual trigger point. The wave is not complete until the close of that candle.
The best way to use Market Waves Omega Indicator is to work on the higher time frames first, to get a bigger picture of where the market is moving. So on the daily, if it looks bullish, then you should be looking for bull triggers on the smaller time frames to trade.
VWAP
The next indicator that needs to be considered is the VWAP, shown on the diagram above in yellow. VWAP is volume-weighted average price and shows where the volume is on a positive or negative position. This is typically used by traders on the smaller time frames but gives the user an idea of where the main buyers or sellers are at that point.
RSI
Another indicator within Market Waves Omega Indicator is the RSI, which every trader uses to get an idea of whether the price is overbought or oversold:
Money Flow
The Money Flow Index (MFI) is a technical oscillator that uses price and volume for identifying overbought or oversold conditions in an asset. It can also be used to spot divergences which warn of a trend change in price:
Stoch RSI
Stochastic RSI oscillator was developed to take advantage of both momentum indicators in order to create a more sensitive indicator that is attuned to a specific security's historical performance rather than a generalized analysis of price change.
Green Dots
One of the biggest indicators use to trade off the Market Waves Omega Indicator are green dots :
The green dots are showing when the RSI is super low and therefore should spark some buying pressure due to market being oversold.
One great thing about Market Waves Omega Indicator is that all the data is in one place, and you can see a lot of information, making it easier to scroll through the different time frames at speed and understand the general market position.
Point and Figure (PnF) Weis Wave VolumeThis is live and non-repainting Point and Figure Chart Weis Wave Volume tool. The script has it’s own P&F engine and not using integrated function of Trading View.
Point and Figure method is over 150 years old. It consist of columns that represent filtered price movements. Time is not a factor on P&F chart but as you can see with this script P&F chart created on time chart.
P&F chart provide several advantages, some of them are filtering insignificant price movements and noise, focusing on important price movements and making support/resistance levels much easier to identify.
This tool is based on the Weis Wave described by David H. Weis (a Wyckoff specialist). The Weis Waves Indicator sums up volumes in each wave. This is how we receive a bar chart of cumulative volumes of alternating waves and The cumulative volume makes the Weis wave charts unique.
If there is no volume information for the security then this tool has an option to use “True Range” instead of volume .
If you are new to Point & Figure Chart then you better get some information about it before using this tool. There are very good web sites and books. Please PM me if you need help about resources.
Options in the Script
Box size is one of the most important part of Point and Figure Charting. Chart price movement sensitivity is determined by the Point and Figure scale. Large box sizes see little movement across a specific price region, small box sizes see greater price movement on P&F chart. There are four different box scaling with this tool: Traditional, Percentage, Dynamic (ATR), or User-Defined
4 different methods for Box size can be used in this tool.
User Defined: The box size is set by user. A larger box size will result in more filtered price movements and fewer reversals. A smaller box size will result in less filtered price movements and more reversals.
ATR: Box size is dynamically calculated by using ATR, default period is 20.
Percentage: uses box sizes that are a fixed percentage of the stock's price. If percentage is 1 and stock’s price is $100 then box size will be $1
Traditional: uses a predefined table of price ranges to determine what the box size should be.
Price Range Box Size
Under 0.25 0.0625
0.25 to 1.00 0.125
1.00 to 5.00 0.25
5.00 to 20.00 0.50
20.00 to 100 1.0
100 to 200 2.0
200 to 500 4.0
500 to 1000 5.0
1000 to 25000 50.0
25000 and up 500.0
Default value is “ATR”, you may use one of these scaling method that suits your trading strategy.
If ATR or Percentage is chosen then there is rounding algorithm according to mintick value of the security. For example if mintick value is 0.001 and box size (ATR/Percentage) is 0.00124 then box size becomes 0.001.
And also while using dynamic box size (ATR or Percentage), box size changes only when closing price changed.
Reversal : It is the number of boxes required to change from a column of Xs to a column of Os or from a column of Os to a column of Xs. Default value is 3 (most used). For example if you choose reversal = 2 then you get the chart similar to Renko chart.
Source: Closing price or High-Low prices can be chosen as data source for P&F charting.
There is only one option for Weis Wave Volume, “Use True Range (if no Volume info)” if you select this option and volume info is not avaliable then it uses “true range”, but if volume info is available, it never use true range. Default value is set to use true range.
MarCipher | Buy/sell signals including VWAP, RSI and Stoch RSI.//Based on many different scripts
The script can be used on every timeframe.
How to use it?
- First check whether the bar (below the waves) is green (which means there is a lot of buying recently), in that case we are looking for a long option. If it is red (ofcourse) we are looking for a short option.
- The green dots below the blue waves represent a buy signal and if the blue wave is oversold (below 60) the green dot is considered a BIG buy signal (more probability of a good trade). The big buy signals are also plotted on the horizontal bar. So a green dot on the bar while the bar is also green represents a buy signal. You can exit the long when a red dot appears in the blue wave above the zero line.
- Another way to use it is to look for divergence of the blue waves. When a blue wave below the zero line appears and then a new wave (some time later) appears which is smaller than the previous, this is considered a good entry point for a long.
- The yellow represents the VWAP (which can be used as a confirmation (crossing up means buying, crossing down means selling)
The RSI is also added (yellow line) oscillating between 100 and 200 (is moved up by 100).
The Stoch RSI is also added (blue and red lines) on the same interval as the RSI.
For improvements, ideas or questions, please don't hesitate to leave a message.
