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Auto Wave Calculator Documentation

Based on AutoWCv23M 06

The Auto Wave Calculator documents the potential 123 setups beginning at January 2017 on time frames
below weekly charts. Both weekly and monthly charts identify 123 setups from the beginning of your data.
Please note that if too few data points are available then no setups may be documented. This is particularly
relevant for the monthly time frame. If a time frame has not been accessed, it takes a while for data to be
made current. When this occurs it may appear that nothing has been calculated. By switching to another time
frame and back should rectify this problem. It should be noted that the automatic drawing of the final wave
calculations does not suggest that it is the best solution or that an entry will not trigger your stop loss. It is
strongly suggested that a top down analysis be used to determine the overall pattern the pair is developing.
Once your bearings are developed, it is wise to use a lower time frame to get closer to an optimal entry with a
tight stop. Always be aware of daily, weekly, and monthly major support and resistance zones before entering
a trade. The indicator must be reinstalled each month. We are constantly adding features and or correcting
problems so we want to insure that you have the latest changes. The ‘About’ tab of the indicator shows when
the program expires.

Inputs tab of indicator: There are 74 options available, of which 40 pertain to color choices. The colors are
divided into two sections, one for light background charts and the other for dark (black) background charts.
Items 2 thru 7 control what may be viewed on your chart:
 Show 5/21 crossing arrows
 Show 5/21 EMA lines
 Show 55 EMA line
 Set value of slowest moving average: Default 55 EMA.
 Show retrace values when wave calculator is drawn.
 Show Reward to Risk calculations.
Items 8 thru 12 control Reward to Risk elements.
 Show Reward to Risk calculations.
 Choose Corner to display details: Default Bottom Right.
 Choose X-axis distance from Right edge.
 Choose Y-axis distance. This is set to a different value used in the manual Wave Calculator.
 Pip Stop add on to Risk: Default 5.0 pips.
Items 13 thru 20 control colors used for EMA’s and Arrows on ‘Light’ backgrounds
Items 21 thru 28 control colors used for EMA’s and Arrows on ‘Dark’ backgrounds
Items 29 thru 40 control colors used for Wave Calculator elements on ‘Light’ backgrounds
Items 41 thru 52 control colors used for Wave Calculator elements on ‘Dark’ backgrounds
Items 53 thru 58 control Line and Arrow widths
Items 59 thru 63 control Line and Arrow styles
Items 64 thru 74 control both Font style and Font size used in Wave Calculator
 Price at points 1, 2, & 3 where Wave Calculator is drawn
 Text for retrace levels
 Text for extension levels
 Text for Reward / Risk
 Text at older points 1, 2, & 3.
o If 123 Bottom on Light background it is placed at low left of candle.
o If 123 Top on Light background it is placed at high right of candle.
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Figure 1: Input section

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Monthly

Weekly
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Daily

4 Hour
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1 Hour

30 Minute
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15 Minute

5 Minute