A great indicator to help analyse the strength of pullbacks, continuation moves and changes in behaviour.
I hope you get some value out of it. Only conditions of use are that if you improve it, let me know and if you publish something that uses it, don't hide the code! Enjoy!
Code pinched and modified from Zero Lag by Duyck - thankyou
Jurik Moving Average (for turning points) by Everget - thankyou
and Weis Wave by Modhelius - thankyou
"It uses the Jurik moving average to determine turning points, and will plot the tops and bottoms of the wave based on the most recent high- so you can also use to quickly find pivot highs and lows. If you are using with the R100 Wave Volume indicator, first adjust the wave to fit better (if required) using the Jurik length and/or power, and then use the same settings on the Wave Volume indicator. Default settings work pretty well for most stocks, but adjusting the length between 8 and 14 should be enough for a good fit, or adjust the power between 1 and 3, or get fussy and tweak it with both"
The one extra tip to save time I could pass on is when looking through hundreds of charts, I will quickly add an anchored text note to the bottom left of the chart that reminds me what settings I've used in the past and for what timeframe. Fore example a note of "102DW" for length of 10, power of 2 on the Daily Wave, or "142WW" for length of 14 and power of 2 on the Weekly chart, or "14315W" for 15 minute chart and so on...
Hope that helps, Rooster.
i was using only this indicator in living trading for my Indian stocks, it was really giving perfect signal for buy/sell which i improve myself how to use your indicator and u don't believe me this indicator not even given me a single day loss for the past 3 weeks. I was really thankful to u for creating this a Perfect indicator.
Sir, presently i don't know how to explain my strategy how i using your indicator for intraday trading in Indian stock Markets, still i didn't come with 100% output. But soon i will explain you.