Tuesday, July 14, 2020

Weis Wave Volume Indicator: Simple But Extremely Effective

This is a special indicator that is trusted and used by a handful of successful traders. The Weis Wave Volume indicator is a powerful tool to help traders quickly identify the current price trend. 

In this article, I will help you learn about this indicator. How to trade Fixed Time with the Weis Wave Volume indicator most effectively.

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Video on how to use the Weis Wave Volume indicator

What is the Weis Wave Volume indicator?

The Weis Wave Volume indicator (aka WWV indicator) is a technical indicator. It is built upon the current market trend aiming to describe the direction of the price movement. When the price develops a strong trend, the WWV also grows bigger. 

What is the Weis Wave Volume indicator?
What is the Weis Wave Volume indicator?

It has 2 main colors which are green and red.

– Green indicates an upward wave. The more the price increases, the bigger the green volume gets (the green WWV increases strongly).

– The red color shows a decreasing wave. The more the price decreases, the bigger the red volume becomes (the red WWV increases sharply).

Meaning of the Weis Wave Volume

When trading and analyzing the market, professional traders use the Weis Wave indicator primarily to determine the current price trend. Because this is the most intuitive signal that the indicator offers.

Use the WWV indicator to identify price trends
Use the WWV indicator to identify price trends

Trade Fixed Time with the Weis Wave Volume indicator

You can use this effective indicator in trading for a variety of purposes. 

Strategy 1. Combine WWV indicator with the Heiken Ashi candlestick 

With this indicator, you’ve got a signal to identify the trend. For additional safety, the Heiken Ashi candlestick chart will help increase the accuracy of your prediction as it is also a reliable trend signal. 

Conditions: A 5-minute Heiken Ashi candlestick chart combined with the WWV Indicator. The expiration time is 15 minutes or more.

How to open an order:

+ Open an UP order when the WWV indicator switches from red to green and the Heiken Ashi candlestick chart is green.

+ Open a DOWN order when the WWV indicator switches from green to red and the Heiken Ashi candlestick chart is red.

Combine WWV indicator with the Heiken Ashi candlestick
Combine WWV indicator with the Heiken Ashi candlestick

Strategy 2. Combine the SMA with the WWV indicator

In addition to the above combination, you also have another choice by combining the Weis Wave Volume with the SMA30. The SMA30 is also one of the very accurate indicators in predicting a price trend.

Conditions: A 5-minute Japanese candle chart, SMA30 indicator, WWV indicator. The expiration time must be 15 minutes or more.

Explanation: When the price starts creating a new trend, it will cross the SMA. And the SMA will follow the direction of this new trend. Combining this with the WWV will confirm the trend.

How to open an order:

+ Open an UP order when the price surpasses the SMA30 from below and the WWV indicator turns from red to green.

+ Open a DOWN order when the price crosses the SMA30 from above and the WWV indicator turns from green to red.

Combine the SMA with the WWV indicator
Combine the SMA with the WWV indicator

In conclusion

These are two of the many strategies to effectively use the Weis Wave Volume indicator in trading. You can test and create your own trading strategy with this indicator on your DEMO account. I wish you successful transactions.

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The post Weis Wave Volume Indicator: Simple But Extremely Effective appeared first on How To Trade Blog.



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