Weis Wave indicator code for Tradesignal

The Weis Wave indicator combines trend and volume information. It seems to be of some interest for timing short term market reversals. Here comes a version of this indicator for usage in Tradesignal.

The Weis Wave indicator for Tradesignal

The basic idea of the Weis Wave indicator is to sum up the traded volume, as long as the market moves in the same direction. The bullish volume wave is displayed in green. As soon as the market changes direction, a red wave is constructed. by comparing the magnitude of the Weis wave with the magnitude of the market move, valuable insights for short term market timing can be found.

More information can be found via a web search or from the page I got the idea form: https://weisonwyckoff.com/weis-wave/

 

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