Weis Wave with Speed Index

Additional Features

Apart from the powerfull Speed Index and the regular Volume Waves the following features are available:

Expalanation Video

Net Volume

What is Net Volume ? Instead of adding all the volumes in a wave two options are available to add and subtruct the volume depending on the price bar close.

  • Option 1 (Price Close) :  if the price bar is bullish the volume bar is added and if price bar is bearish the volume bar is subtructed within the wave.

  • Option 2 (Price Median): if price close of the bar is above the median price of the price bar  the volume bar is added and if  the price close is below the median of the rice bar the volume bar is subtracted within the wave.

The chart below shows the three different setups.

Net Volume USDCADH1.png

Wave Type

What is Wave Type?  With Wave Type you can selected  one of the following waves to be displayed as a cumulative histogram:

  • Option 0 : Regular Volume Waves

  • Option 1 : Pip Waves 

  • Option 2 (Progressive Volume Rate): This algorithm calculates the progressive volume rate within the wave. It shows if the volume increases or decreases while the wave progresses. It is  a very important graphical representation and can be used to confirm entry and exit points.

  • Option 3: Time Waves

  • Option 4: Emphasized Volume Waves. An algorithm emphasizes Large Volume Waves

The chart below shows the three different setups.

EURCAD All In One.H4.png