##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.
ملاحظات الأخبار
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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)
Much love and respect to you for making this and sharing this neowave chart indicator with us, free & open source. I hope I'm using it correctly
naraesims
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Thank you for making this script! Much appreciated. How can I use it for daily chart?
Asano_Voyl
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@naraesims, First open time frame less than day Then setting bars range. Finds the number multiplied by the time frame to get a day. Ex: timeframe 4hr to daily uses 6 bars [4*6=24] Next, click "highlight the bar that runs to plot", The highlight must be moved to the candlestick that the market is closed on Tf day.
naraesims
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@Asano_Voyl, Thank you for the reply! I v realized I need to adjust the bar_shift value every time/hour etc. to put the unit of close on the highlighted bar. Is this intended? or Is there anyway that your chart can be used with the highlighted bar staying in one place the whole time?
Asano_Voyl
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@naraesims, My idea just now, I just only realize like this. Thank you