PZ Wolfe Waves Indicator-Wolfe Waves 6.0 – Point Zero Trading

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Wolfe Waves are naturally occurring trading patterns present in all financial markets and represent a fight towards an equilibrium price. These patterns can develop over short and long-term time frames and are one of the most reliable predictive reversal patterns in existence, normally preceding strong and long price movements.

• Clear trading signals
• Amazingly easy to trade
• Customizable colors and sizes
• Implements performance statistics
• Displays suitable stop-loss and take-profit levels
• It includes a multi-symbol and multi-timeframe scanner
• It implements email/sound/visual alerts

The indicator draws the pattern and the breakout arrow simultaneously to prevent the indicator from repainting the pattern as it expands. However, it might repaint sparingly -not very often-, if the entry breakout happens many times, causing the indicator to re-draw. The indicator is non-backpainting.

Definition of Wolfe Wave

It is a naturally occurring trading pattern present in all financial markets. The pattern is composed of five waves showing supply and demand and a fight towards an equilibrium price. These patterns can develop over short- and long-term time frames such as minutes or weeks and are used to predict where a price is heading and when it will get there.

If identified correctly, Wolfe waves can be used to accurately predict the scope (equilibrium price) of the underlying security and to anticipate price reversals which are likely to cause big price movements. To identify Wolfe waves, they must have the following characteristics.

• Waves 3-4 must stay within the channel created by 1-2
• Wave 4 is within the channel created by waves 1-2
• Wave 5 exceeds trendline created by waves 1 and 3