FunwithThinkScript – Wolfe Wave for ThinkorSwim

Imagine if you could predict what the future will look like. This is the zero-The only price action that can be used to determine the lag indicator is required. ThinkorSwim Version of Wolfe Wave Only available here

This is called a zero-Lag Indicator that depends on price-It does not require any action. It automatically detects and draws them. Wolfe Wave In real time, pattern

The Wolfe Wave Bill identified the first price pattern. Wolfe Linda Raschke, a market wizard, popularized the idea later.

Linda briefly described the pattern in an interview that she did for Opening Bell Monthly. After reading her interview, I recommend the free ebook. “Seeing the Future,” This was published by the originalator.

This indicator works with any chart time frame, and with any instrument (stocks/futures, currency pairs, etc.). Here are some additional examples.

An indicator also includes a user-Setting that allows for The wavelength to be adjusted. The longer the identified waves are, the greater the number. Below is an illustration showing the difference in wavelength between a wavelength 5 and one 13. This is the same stock as before. for both.

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Question

Robert, Good night!

Would you be able to briefly explain the differences between Harmonic Patterns Study and vs. Wolfe Wave. It seems that Wolf is very similar in concept.

All five patterns (4 harmony and 1). WolfeThese reversal patterns are used to help identify possible reversals. But, the criteria for Each is unique. They all have 5 legs but the layouts are unique.

It doesn’t really matter what number you use. One person chose to label the points using numerals, while others used letters. They all need to start somewhere, no matter what. The harmonics begin with X, and the Wolfe It starts at 1.

A bullish reversal is a pattern that starts with an upward movement followed by a pull.-back (decline). These are the points at which patterns can be changed.

The bullish Gartley for For instance, the rule of thumb is that the point X starts, rises to point A and then falls to point B. The rules for Gartley specifies that point B must be a 61.8% reversal.

Bullish Wolfe Wave on the other side starts at point 1, rises to point 2, and then falls to point 3. Rules for The Wolfe Wave specify that point 3 must not be higher than point 1. The following is the Wolfe wave, initially, begins with a >100% reversal.

Each pattern has specific criteria for each point. Each pattern contains 5 legs. But, each one has different rules.