This is the Weis Volume Wave. Wave sizes are in dollars. If, for example, you want a 10 cent wave enter .100. (a 25 cent wave will be .2500) A few extra zeros will be useful. If using forex pairs then simply add the value desired. Weis often talks in wave sizes for forex such as an eighth (1/8). An eighth as a fraction is .12500 (again an extra zero or two). Read the David Weis book and/or watch this video to learn more about the Weis Wave and the associated method www.youtube.com/watch?v=uzISUr1i... Each security or pair - on each timeframe - will require its own wave size.
Cheers Jayy
Cheers Jayy
Nota Keluaran:
Limits on wave size (upper and lower) have been removed. Maximum wave size had been set at 150 which was a problem.
Jayy
Jayy
Nota Keluaran:
I have modified my Weis Wave script to allow the use of percent, not just traditional Weis Wave sizes. I have made a short video to illustrate why this might be useful:
Also, if you are not familiar with the Weis Wave method please take a look at the Weis Wave setups pdf here: www.dropbox.com...Fc6-cyxa4qYeEMa?dl=0. There are also videos on Youtube and other resources on the internet.
Also, if you are not familiar with the Weis Wave method please take a look at the Weis Wave setups pdf here: www.dropbox.com...Fc6-cyxa4qYeEMa?dl=0. There are also videos on Youtube and other resources on the internet.
Nota Keluaran:
I found a typo in the script affecting the percent calculations causing an occasional error.
Nota Keluaran:
This is a minor update. I fixed an issue with the percent of last wave issue. I have also added the abilty to choose wave size as a percent of price - actually this is a percent of the 20 sma of price.
Nota Keluaran:
A slight refinement to a calculation involved in percent of wave calculation.
Nota Keluaran:
I have added 3 alert conditions: an alert when the wave top is confirmed, an alert when the wave bottom is confirmed and, an alert when either a wave top or wave bottom is confirmed.
Use the alert dialogue box - see the alarm clock pic along the top of the screen. Choose Weis wave in the topmost "Condition" dialogue box and then select one of the three options in the dialogue box immediately below the "Condition" box. ie a bottom confirmed, a top confirmed or, a top or bottom confirmed. Under options choose "Once per bar close". You only want a signal when the bar closes.
Use the alert dialogue box - see the alarm clock pic along the top of the screen. Choose Weis wave in the topmost "Condition" dialogue box and then select one of the three options in the dialogue box immediately below the "Condition" box. ie a bottom confirmed, a top confirmed or, a top or bottom confirmed. Under options choose "Once per bar close". You only want a signal when the bar closes.
Nota Keluaran:
Updated Weis script to fix a script issue.
Nota Keluaran:
Changed reference for alert condition
Nota Keluaran:
This is a minor update to my Weis Wave script. The multiplication factor associated with ATR has been updated so that fractions can be used - not just whole numbers. The ATR method is not the true Weis wave method but it is easier to use if you are hopping around between securities and timeframes.
This particular script is invite-only. So you must ask me for permission to use the script. I have been unable to change it to a protected only mode.
There is an alternative version that has the same features plus more and it does not need my permission to add to your favourites. The alternative version of the script, below, is a private script meaning you cannot search it in the public TV scripts. The lowest row in the display above shows the delta version. In this case, it is displaying the price movement of the Weis wave. Because some of the features are experimental I did not want to replace my original Weis Wave script with the developmental script. TV will not allow it to be a public script because of the similarity to my original script. Click on the private link and simply add it to favorites. I have made some modifications to the script to include some optional waves as described in the linked script. Please watch the videos in the description of the Weis Delta script regarding options. Here is the link to the version that does not need permission:
There are also my Weis zigzag scripts which as yet I have been too lazy to convert from Pinescript version 1 to Pinscript version 4 as yet. This would give me more flexibility with putting numbers on the screen, plotting waves and changing background colours. These scripts can be found here:
delta version with additional waves
Please watch my videos associated with the scripts. In some videos you will need to look in the comments of both scripts, this is especially important for the Weis zigzag scripts. If you have questions let me know. Here are some additional videos on Weis generally - David Weis www.youtube.com/watch?v=uzISUr1i... and others using some of the tools in the Delta form of of the script: www.youtube.com/watch?v=cexAzhrZ... In particular watch two minutes into the video where there is a description of how to choose wave size. This same individual has currently more Weis related videos which you can find on his youtube channel.
Additionally, here are a few Weis wave pdfs by Weis: www.dropbox.com...Fc6-cyxa4qYeEMa?dl=0 You can also sign up for a nightly day in review PDF from David Weis here: weisonwyckoff.com/nightly-report/
Here is the Sept 4, 2019, 3 hour Emini (ES1!) chart with a $4 wave (Weis' preferred wave size for this chart and timeframe) using this script in Tradingview using bars:
Here is David Weis script for the same day: www.dropbox.com...mber-4-2019.pdf?dl=0
Be mindful that the data feed on different platforms are provided by different suppliers and so volume and bars may not be 100% comparable. This is also true with BATS data vs the paid data within Tradingview.
If you find any of the links broken please message me. Jayy
This particular script is invite-only. So you must ask me for permission to use the script. I have been unable to change it to a protected only mode.
There is an alternative version that has the same features plus more and it does not need my permission to add to your favourites. The alternative version of the script, below, is a private script meaning you cannot search it in the public TV scripts. The lowest row in the display above shows the delta version. In this case, it is displaying the price movement of the Weis wave. Because some of the features are experimental I did not want to replace my original Weis Wave script with the developmental script. TV will not allow it to be a public script because of the similarity to my original script. Click on the private link and simply add it to favorites. I have made some modifications to the script to include some optional waves as described in the linked script. Please watch the videos in the description of the Weis Delta script regarding options. Here is the link to the version that does not need permission:
There are also my Weis zigzag scripts which as yet I have been too lazy to convert from Pinescript version 1 to Pinscript version 4 as yet. This would give me more flexibility with putting numbers on the screen, plotting waves and changing background colours. These scripts can be found here:
Additionally, here are a few Weis wave pdfs by Weis: www.dropbox.com...Fc6-cyxa4qYeEMa?dl=0 You can also sign up for a nightly day in review PDF from David Weis here: weisonwyckoff.com/nightly-report/
Here is the Sept 4, 2019, 3 hour Emini (ES1!) chart with a $4 wave (Weis' preferred wave size for this chart and timeframe) using this script in Tradingview using bars:
Be mindful that the data feed on different platforms are provided by different suppliers and so volume and bars may not be 100% comparable. This is also true with BATS data vs the paid data within Tradingview.
If you find any of the links broken please message me. Jayy
Nota Keluaran:
No change to the script. Here is the link to the public protected version mentioned above. This version has the "pip wave" built-in. To use it add it to your favourites. Jayy
Jayy