June 10, 2016

SETTINGS INSTRUCTION

Download SETTING INSTRUCTION FOR WVMTS INDICATOR

PATTERN 1

Highest WaveLookBackPatt1

(Input number of waves after what you want to search for alert, for example highest wave alert in previous 5 and more)

Retracement Patt1

(Wave volume which is retracing when you compare it with Highest wave volume which produced signal)

For example highest wave has 100 volume

Value  set on 0.5 means that max retrace wave volume can be 50 ( since highest in 100)

Wave Min Volume 2nd Wave SOT Patt 1

Means if first wave is 100 value that SOT wave should be 200 and more if set on 2

PAT-1

PATTERN 2

Highest WaveLookBackPatt2  

(Same meaning  as on Pattern 1)

WaveMinVolume 2nd WaveCOMPPatt 2  

(Retrace wave which comes after highest wave alert and makes that “compression”/ bag holding has volume bigger than highest wave by that xxx inputted amount)

For example if highest wave has 100 volume value of 1,5 means that retrace wave volume should be 150 volume and higher.

Wave Min Volume 2nd Wave SOT Patt 2 

(Same meaning as on Pattern 1)

PAT-2

PATTERN 3

Highest WaveLookBackPatt3

(Same meaning as on Pattern 1 and 2)

WaveMinVolume 2nd WaveCOMPPatt3

(Same meaning as on Pattern 2)

PAT-3

PATTERN 4

LargeWaveLookBack_Patt4

(Same meaning as  Highest WaveLookBackPatt)

LargeWavePercent_Patt4

(for example you want to get signal after highest wave in 5 and more waves but also want that wave to be more than 200% higher than those 5 previous waves)

For example you have waves of volume around 20, 21, 25, 20 and if you set it on 101 you just need your wave to end up with volume more than 26 if you set that number on 200 than you will need wave which has volume of 50 and more

It is just a way to get as much as different wave (abnormal) which would point you on some major action

Pattern4_SOT Required

(before whole action you would need SOT –shortening of the trust ) which i tough of an stopping action that just can grow probability of a trade)

I would suggest keeping that on TRUE

Pattern4 _VolRetracement

(you should input for example 0.5 which means that that wave after Large Wave alert has volume smaller 50% of that Largest wave)

Smaller the better.

PAT-4

PATTERN 5

LargeWaveLookBack_Patt4

(Same meaning as  Highest WaveLookBackPatt)

LargeWavePercent_Patt4

(for example you want to get signal after highest wave in 5 and more waves but also want that wave to be more than 200% higher than those 5 previous waves )

Pattern5_Max FibRetracement

(leave it on 1)

Pattern5_MinFibRetracement

(if you want price action to go all the way to the low of the highest wave you would choose value 0.9)

In that case pullback after highest wave is all the way to its bottom so it can give you nice RR trade..With stop loose bellow that previous highest wave ( please see attached charts with examples)

PAT-5

PATTERN 55

All the same as it was with P5 only new feature in here is that StrongClose

Pattern55_StrongClosePct

(meaning that you can choose alert bars only to be strong let’s say)

For example if you input value of 90 you will get bar which close is in that range of 90 % and above

50 will get you bars that closed in the middle of its body and higher

Basically you catch with this that strong closed bars.

PAT-55

PATTERN 6

Highest WaveLookBackPatt6  

(Same meaning  as on Pattern 1, 2 ,3)

Wave Min Volume 2nd Wave SOT Patt 6

(same as with Pattern 2 and where ever we had that SOT situation)

If you input 0 all is going through

If for example you input value 2 first wave is let’s say 150 and that SOT wave will be 300

PAT-6

PATTERN 66

Feature Strong Close as we had in Pattern 55

You want to get in after that SOT on bar which have strong close since it grow your probability of successful trade

80 is a good value but you can choose whatever you want.

PAT-66

PATTERN 7

Possibility to have engulfing bar or regular could be enabled / disabled

This works very nice with stocks and Daily time frame ( but not so much alerts during the week)

PAT-7

PATTERN 8

I would not touch MACD setting (but maybe you are familiar with better values so you can play with it)

PAT-8

PATTERN 9

Pattern9_LastWaveLessVolume

(means that TEST wave will have less volume than previous two waves)

Gives you an idea that TEST was done on low volume and grow probability

Pattern9_StrongClosePct   As we mentioned earlier basically you catch with this those strong closed bars

WaveMinVolume2ndWaveSOTPatt9  

(Is the second wave which makes SOT)

You can choose that that wave have more volume than first wave let’s say

All of these enabled features will filter a lot of alerts so you can just play with it as you wish

I usually use value 0 so all goes through.

PAT-9

 

PATTERN P10 and P1010

HighestWaveLookBack  ( same as on the previous patterns)

Here we have Ichimoku cut ( meaning that you want to have rule that that highest wave alert made cut through ichimoku ( meaning major change in a trend ))

You can enable it or disable with True or False

 

ba

 

 

Conclusion

Be careful to have ENABLED Pattern and if you want it to see on chart also ENABLED that feature as well

You can choose to search just for 2 , 3 Patterns out of 9 or you can just use all of them

For example i want to search for Pattern 7

I want my wave to have highest volume n previous 5 waves ( input 5)

Patter7_ Alerts ( leave it on TRUE always)

Pattern7_ AlertSound (leave it as it is default)

Pattern7_ChartText  (ENABLE it if you want P7 alert to appear on the chart as well, so switch it on TRUE)

Pattern7_Enabled  ( if you want to search for that P7 PATTERN enabled it a.k.a TRUE

Pattern7_ EngulfingRequired  ( yes i want to have that enabled just switch on TRUE)

Pattern7 SignalValue (leave it as it is )