WAVES Heatmap system and EA (WAVES Heatmap system and EA) - MT4/MT5 resources
Welcome to my system and themes. The system has been developed over the years, leading Forex groups and producing educational materials for novices. I choose to offer this system for free. The EA and indicators will be an open source project. MQ4 programmer volunteers are specially invited to participate. I do retain my personal copyright on all material presented here, but you may borrow it for non-commercial purposes with express permission. Just ask and cite the source. Designing functional systems that maximize trading profits is very attractive to me. Constructive assessments, comments and questions are welcome. Judgmental comments and disparaging remarks do not. Okay, let's get started.
WAVES refers to the cyclic fractal structure of the Forex money market. Price behavior changes in rolling waves, guided by certain intrinsic principles such as the golden ratio, Fibonacci levels, support and resistance levels, longer trends and shorter embedded trends, etc. Essentially a cyclic and counter-cyclic pattern over time. Waves manifest themselves in trends and volatile market conditions.
Trend cycles range from monthly candlesticks all the way up to one-minute candlesticks. My MT4 platform includes monthly, weekly, daily, 4 hour, 1 hour, 30 minute, 15 minute, 5 minute and 1 minute timeframes. Fundamental factors change naturally over time cycles. Every year, every month, and every day, the opening times and periods (approximately 8 hours) of major commercial markets bring different conditions to the market. Quote (trading) data affects all timeframes, especially significantly within the current minute candlestick.
Various indicators exist, some of which can signal changes in price behavior before they occur: so-called "leading" indicators. The relative strength index (RSI) and momentum indicators are examples. No indicator is 100% reliable, but there are several that are widely used to indicate possible changes in price action levels. I define a currency "heat map" as a graphical representation of all currencies or currency pairs in the entire Forex market or a specific group (subset) of currency pairs that are being traded. Groups of currency pairs are sometimes called (market) baskets.
The middle and extremes are the two areas within each price area or time frame.
"Intermediate" conditions are neutral positions, away from the extremes of time, price levels, or momentum. Related to indecision, trend changes, the balance of momentum and control among market buyers and sellers (bulls vs. bears), market price action tops and bottoms, chart triangles and pennants.
Extreme conditions are positive or negative positions far from the middle. For example, price action highs or lows, support and resistance areas, maximum profits or losses, top winners and losers, steep indicator angles. For more information, see my 9:52 PM post:
http://trendchaser.org/forum/phpBB3/...&sd=a&start=10
My system includes market assessments for all 9 TFs, and over 14 or 16 commonly traded currency pairs with relatively low spreads and higher volatility. The entire group can be divided into 2 subgroups, which I call profit group and loss group. Volatility can be identified using the Average Daily Range (ADR) indicator. Which group you use depends on the currency pairs offered by your Forex broker.
We need heatmaps for 9 timeframes for all currency pairs in the selected group. My friend Trendchaser has written an excellent expert advisor for group trading, and Orest has created an excellent indicator that can be modified for the purpose of our trading system. Robert Hill contributed his excellent coding skills to complement both aspects. Julius Figueroa provided some insights that helped me improve the system. Finally, Steven Young wrote the GROUP HA indicator I designed. Robert and Steven were very helpful in making coding changes for my upcoming WAVES HEATMAP Expert Advisor based on the WAVES systems approach.
I have attached the unfinished Heatmap indicator (installed in the MT4 Experts folder), BasketBars and T3RSI GROUP indicators, the modified single pair indicator T3RSI, Dynamic S&R, Volatility and Profit/Loss indicators now revised to reflect the new Buy Japanese Yen pairs and Sell Japanese Yen pair groups. Install these all in the MT4 Indicators folder.
Current WAVES system program on December 14, 2008:
1. Check the Orest HEATMAP, BasketBars and T3RSI GROUP indicators and the MTF Heiken Ashi price chart for multiple timeframe GROUP and subgroup trends.
2. If there are no group transactions, check the heatmap for individual pair transactions. Then check Wave Signal and T3RSIplus for timing of single trade entries.
3. The best trade entry points are extreme conditions and intermediate conditions, followed by breakouts and the start of a new trend.
4. Use BasketBars, T3RSI GROUP and HEATMAP to monitor exit signals for open GROUP trades.
5. Monitor open pair trades using HA candle price chart, T3RSIplus, wave signals and swing momentum indicator.
Prosperous greetings,
Condoc
WAVES refers to the cyclic fractal structure of the Forex money market. Price behavior changes in rolling waves, guided by certain intrinsic principles such as the golden ratio, Fibonacci levels, support and resistance levels, longer trends and shorter embedded trends, etc. Essentially a cyclic and counter-cyclic pattern over time. Waves manifest themselves in trends and volatile market conditions.
Trend cycles range from monthly candlesticks all the way up to one-minute candlesticks. My MT4 platform includes monthly, weekly, daily, 4 hour, 1 hour, 30 minute, 15 minute, 5 minute and 1 minute timeframes. Fundamental factors change naturally over time cycles. Every year, every month, and every day, the opening times and periods (approximately 8 hours) of major commercial markets bring different conditions to the market. Quote (trading) data affects all timeframes, especially significantly within the current minute candlestick.
Various indicators exist, some of which can signal changes in price behavior before they occur: so-called "leading" indicators. The relative strength index (RSI) and momentum indicators are examples. No indicator is 100% reliable, but there are several that are widely used to indicate possible changes in price action levels. I define a currency "heat map" as a graphical representation of all currencies or currency pairs in the entire Forex market or a specific group (subset) of currency pairs that are being traded. Groups of currency pairs are sometimes called (market) baskets.
The middle and extremes are the two areas within each price area or time frame.
"Intermediate" conditions are neutral positions, away from the extremes of time, price levels, or momentum. Related to indecision, trend changes, the balance of momentum and control among market buyers and sellers (bulls vs. bears), market price action tops and bottoms, chart triangles and pennants.
Extreme conditions are positive or negative positions far from the middle. For example, price action highs or lows, support and resistance areas, maximum profits or losses, top winners and losers, steep indicator angles. For more information, see my 9:52 PM post:
http://trendchaser.org/forum/phpBB3/...&sd=a&start=10
My system includes market assessments for all 9 TFs, and over 14 or 16 commonly traded currency pairs with relatively low spreads and higher volatility. The entire group can be divided into 2 subgroups, which I call profit group and loss group. Volatility can be identified using the Average Daily Range (ADR) indicator. Which group you use depends on the currency pairs offered by your Forex broker.
We need heatmaps for 9 timeframes for all currency pairs in the selected group. My friend Trendchaser has written an excellent expert advisor for group trading, and Orest has created an excellent indicator that can be modified for the purpose of our trading system. Robert Hill contributed his excellent coding skills to complement both aspects. Julius Figueroa provided some insights that helped me improve the system. Finally, Steven Young wrote the GROUP HA indicator I designed. Robert and Steven were very helpful in making coding changes for my upcoming WAVES HEATMAP Expert Advisor based on the WAVES systems approach.
I have attached the unfinished Heatmap indicator (installed in the MT4 Experts folder), BasketBars and T3RSI GROUP indicators, the modified single pair indicator T3RSI, Dynamic S&R, Volatility and Profit/Loss indicators now revised to reflect the new Buy Japanese Yen pairs and Sell Japanese Yen pair groups. Install these all in the MT4 Indicators folder.
Current WAVES system program on December 14, 2008:
1. Check the Orest HEATMAP, BasketBars and T3RSI GROUP indicators and the MTF Heiken Ashi price chart for multiple timeframe GROUP and subgroup trends.
2. If there are no group transactions, check the heatmap for individual pair transactions. Then check Wave Signal and T3RSIplus for timing of single trade entries.
3. The best trade entry points are extreme conditions and intermediate conditions, followed by breakouts and the start of a new trend.
4. Use BasketBars, T3RSI GROUP and HEATMAP to monitor exit signals for open GROUP trades.
5. Monitor open pair trades using HA candle price chart, T3RSIplus, wave signals and swing momentum indicator.
Prosperous greetings,
Condoc
Attachment to original post (7)
📦 Summary of post attachments (35)
Below are all the files (35) shared in the reply.
💡 Featured Recommendations
✍️ Latest by the author
- •
- •
- •
- •
- •
- •
📌 Popular topics
- •
- •
- •
- •
- •
- •
- •
- •
🔗 You May Be Interested In
- •
- •
- •
- •
- •
- •