Weis Wave Volume

Weis Wave Volume is built on the Weis Wave theory of wave patterns.

The algorithm lets us:

• Look at chains of price bars as alternating waves rising and falling.

• Take the volume of each wave as the total volume of the bars that make it up.

These indicators show up in the lower part of the chart as a histogram of same- (for rising volumes) and different-colored (for falling volumes) waves.

The indicator shows trade intensity over a set period, demonstrating supply and demand for the asset in question and potentially signaling that it is time to activate positions.

Indicator settings

Parameters

Name	Description
Period	The wave period.

Style

Name	Description
Volume color when growing	Selecting a color for volumes when asset prices increase.
Volume color when falling	Selecting a color for volumes when asset prices decrease.
Temporary volume color	Selecting a color for temporary volumes.

Indicator

Name	Description
Indicator	Enabling or disabling the indicator display on the chart.
Name	Enabling or disabling the indicator name display in the information line.
Values	Enabling or disabling the indicator value display in the information line.
Markers	Enabling or disabling the indicator markers display on the scale.
Calculation	Select when the calculation will be performed.
Area	Selection of an area to display the indicator.