Summary
Warning: This program contains many original concepts and is protected by copywrite. Do not copy or imitate these procedures without our permission.
WaveTrader MK III is a purpose built tool for tracking market movement in REAL TIME as it unfolds and alerting you to the MARKET GEOMETRY that influences traders decision. Many of the routines available can also be used to analyse the market course after the fact as well as before the fact.
In real time the WT will automatically FLAG important situations to alert you as they come into a close range of importance.
This is a professional traders tool designed by traders for traders.
WaveTrader Mk III - features
IMPORTANT WT III and eSignal SETTING UP ESSENTIALS:
The WaveTrader III software for eSignal contains some very powerful tools to track the inner workings of any market.
The WT routines can be utilized in any time frame you can load in your eSignal platform. All routines are implemented with a mouse click in the designated boxes or buttons. Mostly using left clicks but in many cases both left and right clicks do different things. This is the most sophisticated piece of software you are ever likely to come across in the futures or stock trading arena.
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1. Swing Value buttons - allow you to change the swing value being used on your charts so you can tailor your swing sizes to the most desirable value.
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2. X-ABCD Tables - tabulates the geometric ratios present in various configurations.
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3. 1:1 routine - When ON (left click turns BLUE) it will automatically display all 1:1 levels coming into range.
The 1:1 Boxes on your chart show the 1:1 TARGET PRICE, they could be for in SEQUENCE 1:1 Corrections or 1:1 Double Drives in SEQUENCE. They could incorporate single swings in the series or combine a series of swings to make their TARGET CALCULATIONS based on the relative swing degree the routine is interogating. Even when they are not switched on they will come on automatically should the price come within 2 ticks of the target price; this is to alert you to the situation at hand should you be asleep at the time.
See the link above [ 1:1 ] for a more examples.
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4. 38 50 62 Buttons - Left click each button to turn ON.
The reason I have introduced this routine is because in the past unless you were particular enough to do your medium degree swings and larger degree swings on higher time frame charts a lot of times the market would hit and bounce from a greater degree 38 - 50 - or 62 and you would not be aware of it.
This routine can be run on shorter time frames and the ranges that the 38 50 and 62 refers to may not be visible, nevertheless the WT III will monitor them for you. It is important to be aware of the larger degree levels as the market moves forward.
THE WAY SWINGS ARE PRIORITIZED INTO KEY LEVELS:
A series of swings for the purposes of the routine is determined by the size of the corrections within the series. For instance.....
When swing corrections in the series are overbalanced the Auto Retrace for that range will be dropped from the tables.
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5. Floor Trader Pivot Levels (left click FTP button for ON/OFF) - (right click to remove a target box)
There are some very interesting market reversals that occur intraday due to the following of these FTP levels so it is important that they be monitored especially when they coincide with EW levels or Globex highs and lows that reversed the pre day session activity. Nevertheless they generally act as a market trend indicator. Basically the P-FLT is fair value and S!, S2 are viewed as support levels whereas R1 and R2 are viewed as resistance. Mostly the days trading range will be confined between the S1 and R1 but should they break it is evidence the market could move much lower or higher as the day unfolds.
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6-7 The PRINT LINES for OPEN and ES Globex HIGH and LOW and GAPS.
GAPS - If there is a GAP opening on any trading day it will be displayed as a similar line on your chart. The GAP line works in conjunction with the OPEN button ON.
Lines can be erased by left clicking on them.
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8. BALANCE POINT LEVELS BPL
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9. TIME & PRICE MENUS - this button off the main menu takes you to a submenu where you can compare swings for instances of geometric relationships in Time & Price. Swings are compared using a CD/AB algorithm - these AB & CD markers are independent of the ones in your XABCD tables. Although when you activate the routine it will default to the last two alternate swings on your chart. The lower table allows you to move your markers to any swing point with the magnet on or if you want to select a chart bar high or low switch the magnet off with a mouse click and select which marker to relocate A, B, C or D and then left click on the high or low you want to interrogate. There are a number of ways you can move the markers around, if you follow the key pad arrows you will see what it can do.
There is a far more extensive description of this routine on the TIME & PRICE link.
Time and Price TABLES
Time frames of less than daily bars will be restricted to the calculations in the next window
If you apply the routine on a DAILY or WEEKLY chart you will get the extended table which works everything in time to Calendar and Solar days.
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10. WAVE TRADER TREND WAVES - TWS (Slow), TWM (Medium), TWF (Fast).
This indicator measures the price action in terms of MOMENTUM - VELOCITY and ACCELLERATION. The TW overlays a line on your chart and indicates the direction you should be focusing your future trades in. The line will be going UP or DOWN in a strong fashion or it will be diverging with the price action at times. After a strong directional move the indicator can diverge with price so I use the OBV to filter the signals. Usually in the middle stages of a swing series the TWS will hold direction throughout any corrections.
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11. TEST NEW "D" LEVEL - This routine is probably more useful on larger time frame charts when you want to investigate a level that you think the market may go to in the future.
You can use the routine to replicate what the XABCD tables will reflect at the level you have in mind.
Any levels you test outside of normal range parameters are basically of no value to you and could lead you to a forecast that never eventuates.
The way to use this routine effectively is to wait until the market is close to a significant target level such as a 1:1 DD, a 38.2, 50 or 61.8 of higher swing degree and then input the level via the TEST NEW "D" and see if there is other significant geometry emerging at that level. It can help immensely in your preparation for logical MOB's before the trading day begins.
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