New MT4 indicator - Wave_AutoTrendLines

Can you clarify as to what the High_period and Low_period actually mean? A chart would be helpful

I have used this indicator. No it doesn't repaint. However, the dots appear after the price moves, which makes it looks like the dots are predicting the immediate price, which they do not.

While using this indicator, I noticed that the points wont show until the chart is refreshed.This should be corrected....then, you set it to expire, not too nice..especially if one is test running it.

Hi Asystem2000,
Interesting. Try to place the zigzag lines on OPEN prices and not highs or lows. This will have the effect of auto drawing trendlines that can be extended - hugely helpful in finding tops and bottoms of charts in association with the CCI.
Do not give up your work, everything meaningful takes time.
George

Hi Asystem2000 and all

I have attached this indicator on a backtest of a random EA, it doesnt matter what EA to use any will do to get the chart running, so I could see how this indicator is working. It seems like it doesnt repaint, but, before March 2008 (aprox.) it placed the semaphores at the end of a cycle, after that it places the previous semaphores at the end of the next cycle, ie. when the bottom of a cycle is reached it places a semaphore at the previous top, it´s a little bit confusing, however the semaphores marks the tops and bottoms very very nice. The way I think this indicator can be used to trade with the scenario after march 2008 is to place a buy when a semaphore appears at the top of the previous cycle (back in time), because this is the point (present time) where the bottom semaphore will appear when price reaches the next top, when the bottom semaphore appears it will be a sell and so on. Btw the backtest was run on daily charts and I wil start forward testing on a demo from now on. Does any of you in here have other ideas how to use this indicator for trading?
From what I have seen so far this is a brilliant indicator, excellent work Asystem2000.

First I played about with the settings of BOTH the 3_Level_ZZ_semafor AND the #4xsemafor.
When they both agreed there is a star with a 3 in the centre. The problem is that when it is in a trend the signal is carried to the next high or low but this was easier to recognise by having a momentum indicator under the chart.
Second I then looked at the 4hr signal with a view to price direction and further filtered it with the 1hr signals. If they are in agreement, then trade when it is confirmed via diagonal on screen. See illustration. I believe this to be a safe trade.
If the 4hr and 1hr charts are in conflict then the direction is temporary and is confirmed via diagonal on screen.
Be patient and wait for a signal on the traded (5m or 1m) timeframe.
Thirdly I use trendlines operating from the high and low 3-waves and personally would never enter a trade unless the price cuts through the trendline.
Lots of ways to trade the semafor but my appreciation goes to Asystem2000 for its design.
Regards
George

Hey jlowder, nice graph! what's that indicators which changes colours which seems like a moving average that you've added to the chart?