Wave Weis Bar Force - MetaTrader 5 Script - MT4/MT5 Resources

Wave WeisBar Force is an indicator that applies volume wave (Weis) logic to identify accumulation and changes in market direction.
It increases volume while the trend remains the same. When the direction changes, it starts a new wave and resets the accumulated value to zero.
Strength is calculated on a level basis, based on the ratio between the volume of the current wave and the maximum recent accumulation volume ( the strength window).

Volume Type - Define the volume source (ticks or real volumes).

Intensity - Bar window for intensity reference.

Bullish Level (1 to 4) - Green levels, from lightest to lime .

Bearish levels (1 to 4) - red scale, from lightest to red .

Example of input parameter screen:

Level 1: Very light green (low intensity wave).

Level 2: light green.

Level 3: Medium green.

Level 4: Lime (maximum intensity bullish wave).

Level 1: Very light red (low intensity wave).

Level 2: light red.

Level 3: medium red.

Level 4: Red (maximum strength bearish wave).

Bomax (white) - marks the bar with the highest volume in the current wave.

Wave Climax (Yellow) - Marks the accumulation of the current wave exceeding the best historical accumulation.

Examples of indicators applied to charts:

Only the current cumulative value is shown in the legend.

By default, WaveMax and WaveClimax are hidden to keep readings clear.

This indicator works on any asset and time frame and is particularly useful for intraday studies.

The goal is to show a code that shows the calculation of ATR using Wilder smoothing

Expert Advisor based on iPinBar Pin Bar Finder + several different tracking indicators

Simple signal indicator based on RSI and moving averages. Buy/Sell arrows are drawn when the RSI is above/below 50 and the price is above/below the MA.

One of the simpler chips for machine learning

Attachment download

📎 WaveWeisBarForce.mq5 (12.7 KB)

Source: MQL5 #64084