Weis Wave With Alert is a trading tool that was created by Panagiotis Dimantopoulos and published on the Mql5 website. It was first released in May 2018. The latest update to version 5.9 was in September 2019.
Weis Wave with Alert Indicator Overview
The Weis Wave Indicator is based upon Richard D. Wyckoff’s theory. This involves a five-step approach for stock selection and entry. The indicator’s purpose can be explained more clearly by adding the volume of the previous price waves. It also draws a histogram and follows a pattern that predicts the direction the market will take based on the previous waves. The price of each wave must be greater than the set parameters in order to cause the wave’s reverse. The trading method is still able to tell traders which direction the market will be heading, even though the last wave has been repainted.
It is particularly useful for trend trading although it can also be used with other strategies. The indicator has a few important facts:
-Works with the award-winning MetaTrader4 platform.
-Can be applied to any market and timeframe using range bar and tick bars charts (not for constant tick charts).
The ‘Speed Index’ shows the speed of a wave.
Alerts can be sent when certain parameters are met or the Speed Index exceeds/declines a specific value.
Wave trading is explained in a manual and on YouTube.
There are three different pricing options and demo accounts available.
- Rent $140 USD per month
- Rent $320 USD per 3 months
- Purchase for $420 USD
Each option includes 5 activations total. The price of the indicator is high. Traders can find many options for under $30, or buy an automated trading robot at a price lower than monthly rental. Continue reading to see if other people got their money’s value.
Weis Wave with Alert was developed by Richard D. Wyckoff who is considered to be a pioneer of technical approaches in the stock market. The indicator analyses waves and follows a system that predicts the direction of the market. It also provides alerts to traders when certain criteria are met. We were curious to hear other people’s experience because it’s a bit expensive. Five out of five users have given it a 5-star rating.
This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/29677