Wave Chart v1

16. Feb. 2022

##Wave Chart v1##
For analyzing Neo-wave theory
Plot the market's highs and lows in real-time order.
Then connect the highs and lows
with a diagonal line. Next, the last plot of one day (or bar) is connected with a straight line to the
first plot of the next day (or bar).

##How To Use##
if you want a weekly chart you drop the time frame to the daily chart.
Then you set the range to 7(if the market opens 7 days per week).
Then you click "highlight the bar that runs to plot" and you must shift the highlight to the last day that the weekly chart bar close(Sunday / Friday)

##Example 1
Weekly chart BTCUSDT on BINANCE
first open daily chart, set range = 7 and Bars_shift = 3 (shift highlight to Sunday)

##Example 2
Weekly chart XAUUSD on FXOPEN
first open daily chart, set range = 5 (market open 5 days per week) and Bars_shift = 1 (shift highlight to Friday)


##Note##
If the market has a special holiday Wave Chart may be inaccurate.

20. Jan. 2023

Versionshinweise

This indicator has a mistake
The distances between the high value point and the low value point on the Neowave chart should be equal.
Please use the new version (wavechart V2)