Trend Wave

Trend Wave is an advanced trading tool; trend and counter trade indicator based on Supports and Resistances.

• Trend Wave is designed to have an active trading at any time
• Trend Wave is not lagging
• Indications are given at the beginning of a new candle

Trend Wave indicates

• The Indicator's window shows you the actual count of S and R to get the overall trend
• The white line shows the instant trend.
• On the main chart window, colored arrows are displayed to show the last valid S and R. This also helps to see the trend.

Trend Wave works

• At any Timeframe
• With any instrument
• With any broker

Trend Wave features

• Histogram representation of active R/S
• Average R/S line
• R/S with colored arrows
• Reversal indication on the histogram

How to use Trend Wave

Very easy to set up...

• Put it on your chart
• Adjust inputs
• Follow the trend till a reversal is shown (white line is leaving the edge of the main trend)

Good to know

• Don't consider colored arrows as "setting trade" indications as they show R/S. You will see that they vanishes when a support or resistance is broken so only unbroken R or S will remain; that is the concept of the "Wave".
• If you plan to use arrows as Trade indicators (which I don't recommend) best is to use very small lots for each trade (1% risk is far enough)

Inputs (updated for V1.4)

• Show Arrows on Chart: [bool] 
• true = Shows trend arrows on chart
• false = does not show
• Trend Arrow Up:[color] Choose Arrow Up color
• Trend Arrow Down: [color] Choose Arrow Down color
• Show Histogram: [bool] Will show or hide histogram, the white line will always be visible
• true = show histogram
• false= does not show 
• Auto Histogram Width: [bool] Will enable or not the histogram width according to the zoom factor of the chart
• true = Enabled
• false = Disabled, width and colors can be adjusted in the "color" tab of the indicator's proprieties window
• Show Resistance and Supports: [bool] Will show or hide R & S on the main chart
• true = Show
• false = Hide
• Show Levels: [bool] Will show or hide vertical scale levels on the main chart
• true = Show
• false = Hide
• Max History in Days: [integer] History period for Levels calculation in days
• Level Lines Color: [color] Color of the level lines on the main chart
• Show Reversals: [bool] Shows reversals on the histogram
• true = Show
• false = Hide
• Push Notifications: [bool] Enables Push Notifications
• true = Enable
• false = Disable
• Mail Notifications: [bool] Enables Mail Notifications
• true = Enable
• false = Disable
• Popup Notifications: [bool] Enables Popup window (alert) on the main chart Notifications
• true = Enable
• false = Disable

Buffers

• TrendLine: Buffer 0 White line average value
• None: Buffer 1 Used for calculation only
• None: Buffer 2 Used for calculation only
• TrendUp: Buffer 3 Green Histogram, Support count
• TrendDn: Buffer 4 Red Histogram, Resistances count