Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
Looking for paid help to build a wolfe wave strategy
I love trading wolfe waves but would like to have a strategy/ indicator that can mark out the waves as they develop I.e using prominent swing lows/highs and volume spikes to confirm on wave 3 and 5. I would like this to use fractals plotting once wave line 1 to 3 and 2 to 4 are present off a high or low with symmetry between waves.
I would like this to plot the targets using fib levels and plot the stop for the indicator, and when used as a strategy to place a market order once the price has retraced a percentage of line 4 a 5 with stop loss and target. The trade will only be placed once confirmed by heavy volume at wave 5 followed by a retracement.
I am willing to pay if someone can give me a quotation. Can anyone help..
It is not easy to code an automatic pattern recognition for Wolfe Waves.
The pattern itself is a 3 push pattern :
-> the wave 2-3 must retrace the wave 1-2 by more than 100%
-> the wave 3-4 must retrace the wave 2-3 by less than 100%
-> the wave 3-4 must overlap with the wave 1-2
-> the size of the wave 3-4 is typically similar to the size of wave 1-2
-> the wave 4-5 must retrace the wave 3-4 by more than 100%
-> the wave 4-5 should touch or exceed the trend channel line drawn through the points 1 and 3
A Wolfe Wave can only be identified once the point 4 has been identified as a turning point. In that case there are two possible projections
(1) the projection for the target point 5
(2) once point 5 has been identified as turning point a projection for the reverse target can be made
For the pattern recognition you would need a cohort of zigzag indicators with a high granularity. Not really easy to do.