Wolf Wave Finder
- Indicators
- Alexey Cherkashin
- Version: 1.12
The Wolf Wave Finder indicator for MetaTrader 4 is a forex indicator that was designed in line with the Wolf Wave patterns of price action. The Wolf wave pattern is one of the best market conditions that project a potential trend reversal zone in the financial market.
The indicator automatically identifies the wolf wave patterns, which look somewhat like the Elliot waves but differs slightly. It (Wolf Wave) consists of a four-wave pattern. The price is expected to move in the direction of the fifth wave, which may also translate to a BUY/SELL signal.
The indicator was built with a trendline and a zigzag-like tool that identifies the presence of the wolf waves in the market. The trendline was incorporated into the indicator to increase the efficiency of the signals. In other words, it (the trendline) helps you to define the trend bias of the market and then trade in that direction.
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