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Wolfe Wave Theory
Wolfe Wave is naturally occurring trading pattern present in all financial markets. The pattern is composed of five waves showing supply and demand and a fight towards an equilibrium price. These patterns can develop over short- and long-term time frames such as minutes or weeks and are used to predict where a price is heading and when it will get there.
pic. 1 - Bullish Wolfe Wave
pic. 2 - Bearish Wolfe Wave
To identify Wolfe Waves, they must have the following characteristics:
Wolfe Waves 3-4 must stay within the channel created by 1-2
Wolfe Wave 1-2 equals waves 3-4 (shows symmetry)
Wolfe Wave 4 is within the channel created by waves 1-2
There is regular time between all waves
Wolfe Wave 5 exceeds trendline created by waves 1 and 3 and is the entry point
The estimated price is a price along the trendline created by waves 1 and 4 (point 6).
![]() | Wolfe waves was introduced by Linda Raschke. INTERVIEW: LINDA BRADFORD RASCHKE ON SHORT TERM TRADING STRATEGIES, August 1997, AIQ Opening Bell (Click to view) |
Wolfe Wave MT4 Indicator
MT4 4 Wolfe Wave Indicator draws Wolfe Wave in fully automated mode
Wolfe Wave Indicator - The Benefits
- We do not use ZigZag and work with fractals.
- Our indicator can recognize all Wolfe Wave paterns on specified time range
- So we check every top for potential 1,2,3,4,5 points not only ZigZag tops
- Indicator has a lot of adjustable parameters
Wolfe Wave Video - Standard Situation
Wolfe Wave Video - Situation when Line 1-3 has been broken
Wolfe Wave Indicator - ScreenShots
Wolfe Wave Indicator - Parameters
AccDigits = 5; |
BuyPatterns = true; |
SellPatterns = true; |
BarsBack = 500; |
Date/Time Filters UseDateRange = false; |
FilterByPoint1 = false; |
FilterByPoint2 = false; |
FilterByPoint3 = false; |
FilterByPoint4 = false; |
Bars/Price Filters P1_P3.BarsMin = 10; |
Graphic Buy.Text.color = White; |
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