Trend Wave

It is very important to create the correct eSignal TIME TEMPLATE for this indicator.

See TIME TEMPLATES

The TREND WAVE indicator requires 500 records in your eSignal data manager memory to run efficiently.
For instructions on creating and loading an eSignal 500 bar time template see TIME TEMPLATES  

The TREND WAVE routine has 3 speeds, you can click them on or off from the buttons on the WT III side menu or in the Assistant click the speed boxes.

 

TWS (slow) -TWM (Medium) – TWF (Fast)

This indicator is my TRADE MARK “black box” (It is not available anywhere else. I have kept the formula I use a secret for 20 years), all you need to know is it is my way of following the price action in terms of  MOMENTUM – VELOCITY and ACCELLERATION. The TW overlays a line on your chart and indicates the direction you should be taking trades in. The line will be going UP or DOWN in a strong fashion or it will be diverging with the price action at times.

The divergence only occurs after a particularly strong and long move when the market is distributing or accumulating before a complete change in direction.

Normally the TWS indicator will alert you to the exhaustion points on a 3-5 minute, 15 minute, 60 minute and a DAILY chart by rolling over and changing its direction. The TWF(fast) will follow the price action by changing direction on even the slightest of corrections. The TWM(medium) should be used as a filter between the TWS and TWF.

When the market is directional the TWS should keep moving in that direction for the duration. Most of the time I am only tracking the TWS as I find that it suits my style better.

Using the indicator on a 5 minute price series in conjunction with normal pattern theory and geometry gives you an additional edge for your trading decisions.

When ON the TW(S) (M) (F) boxes are now color coded to signal the current direction UP or DOWN (Green or Red) as sometimes the Trend Wave overlay maybe obscured by the bars on your chart. This is especially important in the transition periods when the trend wave is rolling over.

Some analysts have suggested that to the novice this indicator is worth the total price of the package.