Weis Wave Indicator Upgrade

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Weis Wave Indicator Upgrade

Postby LifeStarForex » Thu Aug 16, 2018 2:12 pm

I am uploading an indicator (MQL4 file) that I have been working on but cannot figure out how to bring to finalization. It is a working version, with some minor issues.

The forming 'now' wave in the code refreshes after every close but it repaints the new accumulated volume label over the last acc vol label instead of replacing it altogether. I would like it to update on each close but not keeps the last acc. vol label so long as it is not forming a new leg due to the 'dif' parameter being met.

Also, when a new wave is forming due to the 'dif' parameter being met the forming 'now' vol. label does not show up with a new count but instead will continue totaling acc. vol. unless the indicator is refreshed. Can you make it so that when the 'dif' parameter is met the down wave vol label prints and the current forming 'now' vol label start a new calculation?

Lastly, I would like if the net delta (the difference between the bid and ask) could be plotted underneath the vol label using the same 'dif' parameter as the vol wave. No histogram is necessary for the net delta.

This indicator tremendously benefits all who do Wyckoff analysis and VSA Wave analysis.

If you find any other errors or inefficiencies in the code you may fix those as you see fit.

Thank you very much in advance for all of your help.
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WeisWaveRM4.mq4
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Re: Weis Wave Indicator Upgrade

Postby Apprentice » Thu Aug 16, 2018 5:51 pm

Your request is added to the development list under Id Number 4228
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Re: Weis Wave Indicator Upgrade

Postby Apprentice » Sat Aug 18, 2018 5:54 am

Try this version.
WeisWaveRM4.mq4
(13.64 KiB) Downloaded 168 times
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Re: Weis Wave Indicator Upgrade

Postby LifeStarForex » Sun Aug 19, 2018 8:25 pm

Apprentice wrote:Try this version.
WeisWaveRM4.mq4



Hello Apprentice,
I have tried the indicator you suggested and the repainting of the forming 'now' wave still happens without taking into effect that a new wave has started or the old wave is still in existence. I want to thank you for your help thus far.

Also, were you able to figure out how to add the net delta per wave feature? I am going to donate to the forum/website regardless of your success because I like your speedy response and the purpose of this site.

The net delta feature would be great even if you have to make it as a separate indicator. Thank you again and you have my word. Good luck.
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Re: Weis Wave Indicator Upgrade

Postby logicgate » Tue Dec 18, 2018 9:04 am

LifeStarForex wrote:
Apprentice wrote:Try this version.
WeisWaveRM4.mq4



Hello Apprentice,
I have tried the indicator you suggested and the repainting of the forming 'now' wave still happens without taking into effect that a new wave has started or the old wave is still in existence. I want to thank you for your help thus far.

Also, were you able to figure out how to add the net delta per wave feature? I am going to donate to the forum/website regardless of your success because I like your speedy response and the purpose of this site.

The net delta feature would be great even if you have to make it as a separate indicator. Thank you again and you have my word. Good luck.



My friend I believe that the average volume of each swing is what gives you the true power behind the move. Forget about the cumulative value. For example, if you have 4 bars on a up swing, each bar with 2000 volume, you would have 8000 on the cumulative method. then next down swing has 3 bars, two bars with 3000 volume and one with 2000 volume. Total 8000 too.

Now, you would think that they have the same power, but no. The average will show you that. Divide 8000 by 4 you have 2000 average, divide 8000 by 3 and you have 2666 average. You see, the move to the down side was more powerful, indicating a change in behaviour which you would not notice with the cumulative volume. I think you need to update this indi to show the average volume of the swing, instead of the cumulative. But our dear friend Apprentice is already doing that with the cumulative zigzag, he changed to zigzag average volume. Which is basically the same thing as Weis Wave. God Bless and good trades.
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Re: Weis Wave Indicator Upgrade

Postby Apprentice » Wed Dec 19, 2018 5:30 am

Your request is added to the development list under Id Number 4378
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Re: Weis Wave Indicator Upgrade

Postby logicgate » Thu Dec 20, 2018 6:33 am

A few neat statistics features to the Weis Wave which are useful:

- Turn on or off in indicator settings the ability to show the time that took to complete the leg. For instance, an up leg made of five 5 min bars will have a 25min reading on top of pivot.

- (turn on or off too) Show the percentage of expansion or shrinkage of volume of each leg (this is more useful in the average volume mode, which can be the default for the calculation, but if you want you can add the option to choose the method: Based on average or total volume). The leg to the right will always be compared to the leg to the leg on it's left. This can be the default "continuous mode". If you wanna override the continuous mode and choose a "master" leg with which all the other legs to it's right will be compared to, you click on the leg you want. When you click on top of it, all the legs to its right will show the percentage of expansion or shrinkage of volume in relation to it If you click on the leg again, it will return to continuous mode. Nice to see in green color with a + sign if expansion, and red color with a - (minus) sign for shrinkage.
Attachments
2018-12-20-072634_1280x800_scrot.png
2018-12-20-072749_1280x800_scrot.png
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Re: Weis Wave Indicator Upgrade

Postby logicgate » Thu Dec 20, 2018 3:48 pm

Apprentice wrote:Try this version.
viewtopic.php?f=38&t=67182


Thanks very much brother gonna give it a test run tonight!
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