Disliked{quote} Dear Kminler,expo & All: During the last 2 weeks i have tried to develop this version of indictor which can predict a Potential CWW when it is forming, I m aware that it is not still bug free, (has some false positive ones, which of course, is easily differentiable visually ), it has an alert on finding which can be set too. Please i am looking forward for your comments or any suggestion, even for any logic to improve the detection, and prevent false ones, be kind and let me have them. {file}{image} {image}{image}Ignored
- #664
- Edited 11:12pm Apr 2, 2017 10:28pm | Edited 11:12pm
- | Joined Apr 2016 | Status: Trader | 410 Posts
{quote} Thanks again for all your hard work, I have the indie running on some smaller time frames in hopes of generating test signal for the alert feature. so far it does not appear to be working, had a valid signal on the GBPUSD, but no pop up alert. I assume that the alert would remain open until I manually closed It? I run 4 monitors so it is possible that the alert is hidden behind an open window on another screen, though I think it should pop into view no matter what. the trade that was spotted was valid and a winnner. I will keep monitoring...
1)If the indicator find any pattern, then it sets a find flag , make an alert, and stop searching, so if you already have a pattern found and drawn on your chart, its not going to do it again.
2) With so many rules that need to be true for the curve to be acceptable as a valid CWW, it may take a while before it forms if ever.
3) Don't forget that in a time frame while ,one setting (ExtDepth of 6), may not find any, others(ExtDepth of 3 or 12) may.
4) As i said before it is best when used as a scanning tool, put it on a pair , go through different TF , and if you find an interesting and valid CWW then make a note and follow it closely.
By the way check the input for setting and set alert to true, if not done before, and if it find any it is going to give you repeated alarm on every new Bar of that TF,so if it is on M15 it will alert every 15 minute.
Edited: Please Download and use this one, some bugs fixed :
EURUSD - H1 Wolfe Wave maybe setting up so one to track
Price currently approaching at least 2 support areas in terms of the signal bar high from the 15th (see large elipse) and a bull trend line throughout the chart.
The rectangle shows price action maybe setting up a Wolfe Wave within.
The small circle shows an approximate 20 point gap that occurred late on in this particular bear trend after numerous sell climaxes. Whilst it is possible that it is a measuring gap it is more likely to be an exhaustion gap that will be filled soon so gives additional reasons to take a chance on a decent bull reversal setup if one appears. Also, there has been no test of the prior trend high as yet after the trend line break to the downside. Just my thoughts and I'm sure others will disagree!
Price currently approaching at least 2 support areas in terms of the signal bar high from the 15th (see large elipse) and a bull trend line throughout the chart.
The rectangle shows price action maybe setting up a Wolfe Wave within.
The small circle shows an approximate 20 point gap that occurred late on in this particular bear trend after numerous sell climaxes. Whilst it is possible that it is a measuring gap it is more likely to be an exhaustion gap that will be filled soon so gives additional reasons to take a chance on a decent bull reversal setup if one appears. Also, there has been no test of the prior trend high as yet after the trend line break to the downside. Just my thoughts and I'm sure others will disagree!
Hi all:
Please check this picture, it has some interesting finding:
1)it was a potential CWW which, has now reached its completion target.
2) AB=CD and, interstingly ,D(5) has past the 1st Sweet Zone, and entered into the 2nd one.
3)If it reverse now, it would be a very good chance for a profitable trade, with very good R/R ratio. 
Please check this picture, it has some interesting finding:
1)it was a potential CWW which, has now reached its completion target.
2) AB=CD and, interstingly ,D(5) has past the 1st Sweet Zone, and entered into the 2nd one.
3)If it reverse now, it would be a very good chance for a profitable trade, with very good R/R ratio.
- #670
- Apr 3, 2017 11:31am Apr 3, 2017 11:31am
- Joined Aug 2013 | Status: Trader | 4,894 Posts
Pride always comes before destruction.... -Proverbs 16:18
- #672
- Apr 3, 2017 1:01pm Apr 3, 2017 1:01pm
- Joined Aug 2013 | Status: Trader | 4,894 Posts
Pride always comes before destruction.... -Proverbs 16:18
{quote} It's a pleasure, you are doing the hard work. I was thinking about the first "issue". Maybe you could add a filter based on the close price of the candles between 2 points of the pattern, but I'm not a coder and I don't know how to help. However I'd expect for Expo to tell what he thinks about these things. Another option is to leave as it is, not to filter too much and then it's up to each of us to make some judgement on the detected patterns.
. But really it is best used for quick scanning of several pairs and time frame, don't relay on it for real trade, traders should decide themselves.
{quote} Thanks for your indi, it's very useful to quickly scroll the pairs and TF. I think the patterns need to be checked before opening any trade. Since it's based on zigzag it depends by its settings whether the pattern is correct or not. According to Wolfe, between X(1) and B(3) there can't be another swing low (swing high for rising patterns) so the one in your picture is not a real WW pattern. I've seen others and it was something I wanted to point out, sorry to be late. I don't think it's possible to solve this issue, just need to check the...
PS: I have changed the long name to a simpler one, but still Version is correct and is v4.
thanks.