The indicator works a little different than websouth's implementation, because he was using the displacement chart feature which puts lines behind (historical) price. Within the indicator, I just painted the line using historical data, but it still plots real-time.
At any rate, it is a very interesting indicator. Sometimes it is a thing of beauty, others the visual aesthetics are not appealing but that usually means chop. If the indicator looks like shit then the price action is probably shit, too.
All colors are fully configurable, as is the shading, and opacity. You can also control the historical period rate.
Attached are a few screens plus the indicator. It's the top panel stuff.
This indicator simply plots the EMA High Low and Close for a single time period which creates a ribbon or wave look from the 3 lines. Can be useful for potential support and resistance areas. Instead of adding 3 individual EMA's to the chart, with this indicator you can change all three plots with the single time period. You can also hide the plots without removing the indicator from the chart.
COMPATIBILITY:
NinjaTrader 6.5: Created with 6.5.1000.12
NinjaTrader 7.0: NOT TESTED
The indicator works a little different than websouth's implementation, because he was using the displacement chart feature which puts lines behind (historical) price. Within the indicator, I just painted the line using historical data, but it still plots real-time.
At any rate, it is a very interesting indicator. Sometimes it is a thing of beauty, others the visual aesthetics are not appealing but that usually means chop. If the indicator looks like shit then the price action is probably shit, too.
All colors are fully configurable, as is the shading, and opacity. You can also control the historical period rate.
Attached are a few screens plus the indicator. It's the top panel stuff.
May 8th, 2017 10:13 AM moneypenny Mike - This indicator has made more difference in my trading than any other so far! THANK YOU!!!!!whoo:
January 10th, 2016 07:01 PM bobc635 Thanks Mike.... looks very nice. Playing with PnF on CL futures. PnF seems to give a better look for my eye... I am l
iking it.
Bob
October 16th, 2014 10:20 AM ShaunG I am not a hundred present sure how it work's Mike! Sure is a thing of beauty! Thanks!
October 6th, 2014 11:37 PM TakingStock12 Very nice indicator Mike! Very helpful -- thanks!
February 2nd, 2011 01:48 PM minsalaco Mike: I've loaded the Wave Indicator but looks different from your four screen shots in that the entry and exit indicat
ors that are below the price action are missing. For this indicator, what are you using for entry and exit points? Is
there another indicator I should be using with the Wave Indicator? Thanks in advance.
January 18th, 2017 04:22 PM ronturner I think that this is also called the caos awesome oscillator. Some use this to identify wave 3 (strongest, ie highest o
r lowest crest) to identify wave 3. The next crest would show divergence (weaker) for wave 5 or the end of that impulse
ive wave.
January 27th, 2016 04:01 PM Trailer Guy Wow, this really works well on my 20,000 tick es chart. I don't understand the point of the color changes but that is O
K. If you want to see how someone uses this for counting go to studyofcyclesblogspot and see how the "Elliot Trader" co
unts. I just like the way it says "this move is over".
September 4th, 2013 01:47 AM poodman looks like the Awesome Oscillator, maybe it will be easier to install and use
July 15th, 2013 03:32 PM teamtc247 Awesome indicator for convergence/divergence.
December 4th, 2012 04:10 PM dilbert618 Thanks peakskill