WolfWave_nen_v2

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WolfWave_nen_v2

This script functions as a specialized technical analysis tool for the MetaTrader platform. It is designed to identify specific geometric price patterns, referred to as "Wolf Waves," by filtering and analyzing historical price movements.

Core Logic and Workflow

1. Identification of Significant Peaks and Troughs The script begins by scanning historical price data to identify major turning points. Rather than looking at every single price tick, it utilizes a mechanism similar to a "ZigZag" indicator. It filters out minor market noise to highlight significant local highs (peaks) and lows (troughs). It does this by checking if a price move meets a minimum distance requirement and ensures that the detected point is an actual extreme within a specific window of bars.

2. Refinement of Trend Points To ensure the patterns are clean, the logic performs a "cleaning" pass. If it detects overlapping or redundant peaks—such as two high points occurring too close together where one clearly overshadows the other—it removes the weaker point. This creates a distinct sequence of alternating highs and lows, representing the skeletal structure of the market's price action.

3. Wolf Wave Pattern Recognition Once the script has established a reliable list of these peaks and troughs, it analyzes the relationship between five consecutive points to identify two specific types of "Wolf Waves":

  • Buy Pattern: The logic looks for a specific structural alignment where three lows and two highs form a sequence that meets strict overlapping criteria. Specifically, it checks if the price action "folds" in a way that suggests an accumulation of buying pressure or a reversal from a downward trend.
  • Sell Pattern: Conversely, the script looks for a sequence where three highs and two lows meet a corresponding structural alignment, suggesting a reversal from an upward trend or heavy selling pressure.

4. Visual Representation When the script successfully identifies one of these patterns, it automatically draws visual markers on your trading chart:

  • Trend Lines: It draws lime-colored lines to connect key points of the "Buy" pattern and red lines for the "Sell" pattern.
  • Numbered Labels: It places numbered text labels (1 through 5) above or below the identified peaks and troughs. This allows the user to see exactly which parts of the price action the script is using to calculate the signal.
  • Dynamic Updating: The script continuously monitors new price data, refreshing these calculations as the market moves to ensure the most recent patterns are always visible.

Summary for the User

In simple terms, this script acts as an automated "pattern hunter." It ignores the small ripples in the market to find the significant waves, then compares the shapes of those waves against a specific mathematical template. When it finds a "Wolf Wave" shape that matches its criteria, it draws the pattern on your screen and labels the points for your review.

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WolfWave_nen_v2 
//+-----------------------------------------------------------------------+
//|                                 A WolfWave finder based on ZIGZAG.MQ4 |
//|                                     fukinagashi a t gmx p o i n t net |
//| Patched by Nen @  http://onix-trade.net/forum/index.php?showtopic=373 |
//|                                               Patched again by Maumax |
//|                                                                       |
//|                      Copyright © 1999-2008, MetaQuotes Software Corp. |
//|                                              http://www.metaquotes.ru | 
//+-----------------------------------------------------------------------+
#property indicator_chart_window
#property indicator_buffers 2
#property indicator_color1 Red
#property indicator_color2 SteelBlue
//----
#define MaxAnalyze 200
#define UpperDistance 15
#define LowerDistance 5
#define Title "WW"
//---- indicator parameters
extern int ExtDepth=12;
extern int ExtDeviation=3;
extern int ExtBackstep=2;
//---- indicator buffers
double ExtMapBuffer[];
double ExtMapBuffer2[];
int timeFirstBar=0;
//+------------------------------------------------------------------+
//| Custom indicator initialization function                         |
//+------------------------------------------------------------------+
int init()
  {
   IndicatorBuffers(2);
//---- drawing settings
   SetIndexStyle(0,DRAW_SECTION);
//---- indicator buffers mapping
   SetIndexBuffer(0,ExtMapBuffer);
   SetIndexBuffer(1,ExtMapBuffer2);
   SetIndexEmptyValue(0,0.0);
   SetIndexEmptyValue(1,0.0);
//----
   ArraySetAsSeries(ExtMapBuffer,true);
   ArraySetAsSeries(ExtMapBuffer2,true);
//---- indicator short name
   IndicatorShortName("WolfWave");
//---- initialization done
   return(0);
  }
//+------------------------------------------------------------------+
//| Custom indicator deinitialization function                       |
//+------------------------------------------------------------------+
int deinit()
  {
   for(int i=1;i<=5;i++)
     {
      ObjectDelete(Title + ""+i);
     }
   ObjectDelete(Title + "Line-2-4");
   ObjectDelete(Title + "Line-1-3");
   ObjectDelete(Title + "Line-1-4");
   ObjectDelete(Title + "Line-2-5");
   return(0);
  }
//+------------------------------------------------------------------+
//| Custom indicator iteration function                              |
//+------------------------------------------------------------------+
int start()
  {
   int    counted_bars=IndicatorCounted();
   int    shift, back,lasthighpos,lastlowpos;
   double val,res;
   double curlow,curhigh,lasthigh,lastlow;
   int num=0;
   int Peak[MaxAnalyze],h,i,j;
   int Wolf[6];
   string WolfWave="None";
   double Winkel1, Winkel2;
   bool found=false;
//----+ ïðîâåðêà êîëè÷åñòâà áàðîâ íà äîñòàòî÷íîñòü äëÿ êîððåêòíîãî ðàñ÷¸òà èíäèêàòîðà
   if (Bars-1<ExtDepth)return(0);
//----+ Ââåäåíèå öåëûõ ïåðåìåííûõ ïàìÿòè äëÿ ïåðåñ÷¸òà èíäèêàòîðà òîëüêî íà íåïîäñ÷èòàííûõ áàðàõ
   static int time2,time3,time4;
//----+ Ââåäåíèå ïåðåìåííûõ ñ ïëàâàþùåé òî÷êîé äëÿ ïåðåñ÷¸òà èíäèêàòîðà òîëüêî íà íåïîäñ÷èòàííûõ áàðàõ
   static  double ZigZag2,ZigZag3,ZigZag4;
//----+ Ââåäåíèå öåëûõ ïåðåìåííûõ äëÿ ïåðåñ÷¸òà èíäèêàòîðà òîëüêî íà íåïîäñ÷èòàííûõ áàðàõ è ïîëó÷åíèå óæå ïîäñ÷èòàííûõ áàðîâ
   int MaxBar,limit,supr2_bar,supr3_bar,supr4_bar;
//---- ïðîâåðêà íà âîçìîæíûå îøèáêè
   if (counted_bars<0)return(-1);
//---- ïîñëåäíèé ïîäñ÷èòàííûé áàð äîëæåí áûòü ïåðåñ÷èòàí
   if (counted_bars>0) counted_bars--;
//---- îïðåäåëåíèå íîìåðà ñàìîãî ñòàðîãî áàðà, íà÷èíàÿ ñ êîòîðîãî áóäåò ïðîèçåä¸í ïîëûé ïåðåñ÷¸ò âñåõ áàðîâ
   MaxBar=Bars-ExtDepth;
//---- îïðåäåëåíèå íîìåðà ñòàðòîâîãî  áàðà â öèêëå, íà÷èíàÿ ñ êîòîðîãî áóäåò ïðîèçåäèòüñÿ  ïåðåñ÷¸ò íîâûõ áàðîâ
   if (counted_bars==0 || Bars-counted_bars>2)
     {
      limit=MaxBar;
     }
   else
     {
      //----
      supr2_bar=iBarShift(NULL,0,time2,TRUE);
      supr3_bar=iBarShift(NULL,0,time3,TRUE);
      supr4_bar=iBarShift(NULL,0,time4,TRUE);
      //----
      limit=supr3_bar;
      if ((supr2_bar<0)||(supr3_bar<0)||(supr4_bar<0))
        {
         limit=MaxBar;
        }
     }
//---- èíèöèàëèçàöèÿ íóëÿ
   if (limit>=MaxBar || timeFirstBar!=Time[Bars-1])
     {
      timeFirstBar=Time[Bars-1];
      for(shift=Bars-1; shift>0;shift--) {ExtMapBuffer[shift]=0.0; ExtMapBuffer2[shift]=0.0;}
      limit=MaxBar;
     }
//----  
   for(shift=Bars-ExtDepth; shift>=0; shift--)
     {
      val=Low[Lowest(NULL,0,MODE_LOW,ExtDepth,shift)];
      if(val==lastlow) val=0.0;
      else
        {
         lastlow=val;
         if((Low[shift]-val)>(ExtDeviation*Point)) val=0.0;
         else
           {
            for(back=1; back<=ExtBackstep; back++)
              {
               res=ExtMapBuffer[shift+back];
               if((res!=0)&&(res>val)) ExtMapBuffer[shift+back]=0.0;
              }
           }
        }
      if (Low[shift]==val) ExtMapBuffer[shift]=val;
      //--- high
      val=High[Highest(NULL,0,MODE_HIGH,ExtDepth,shift)];
      if(val==lasthigh) val=0.0;
      else
        {
         lasthigh=val;
         if((val-High[shift])>(ExtDeviation*Point)) val=0.0;
         else
           {
            for(back=1; back<=ExtBackstep; back++)
              {
               res=ExtMapBuffer2[shift+back];
               if((res!=0)&&(res<val)) ExtMapBuffer2[shift+back]=0.0;
              }
           }
        }
      if (High[shift]==val) ExtMapBuffer2[shift]=val;
     }
   // final cutting 
   lasthigh=-1; lasthighpos=-1;
   lastlow=-1;  lastlowpos=-1;
//----
   for(shift=Bars-ExtDepth; shift>=0; shift--)
     {
      curlow=ExtMapBuffer[shift];
      curhigh=ExtMapBuffer2[shift];
      if((curlow==0)&&(curhigh==0)) continue;
      //---
      if(curhigh!=0)
        {
         if(lasthigh>0)
           {
            if(lasthigh<curhigh) ExtMapBuffer2[lasthighpos]=0;
            else ExtMapBuffer2[shift]=0;
           }
         //---
         if(lasthigh<curhigh || lasthigh<0)
           {
            lasthigh=curhigh;
            lasthighpos=shift;
           }
         lastlow=-1;
        }
      //----
      if(curlow!=0)
        {
         if(lastlow>0)
           {
            if(lastlow>curlow) ExtMapBuffer[lastlowpos]=0;
            else ExtMapBuffer[shift]=0;
           }
         //---
         if((curlow<lastlow)||(lastlow<0))
           {
            lastlow=curlow;
            lastlowpos=shift;
           }
         lasthigh=-1;
        }
     }
   for(shift=Bars-1; shift>=0; shift--)
     {
      if(shift>=Bars-ExtDepth) ExtMapBuffer[shift]=0.0;
      else
        {
         res=ExtMapBuffer2[shift];
         //if(res!=0.0) ExtMapBuffer[shift]=res;
         if(res>0.0) ExtMapBuffer[shift]=res;
        }
     }
   // Ïðîâåðêà ïåðâîãî ëó÷à
   i=0;j=0;
   res=0;
   for(shift=0;i<3;shift++)
     {
      if (ExtMapBuffer[shift]>0)
        {
         i++;
         if (i==1 && ExtMapBuffer[shift]==High[shift])
           {
            j=shift;
            res=ExtMapBuffer[shift];
           }
         if (i==2 && res>0 && ExtMapBuffer[shift]==High[shift])
           {
            if (ExtMapBuffer[shift]>=ExtMapBuffer[j]) ExtMapBuffer[j]=0; else ExtMapBuffer[shift]=0;
            res=0;
            i=0;
            j=0;
            shift=0;
           }
        }
     }
   //+--- Âîññòàíîâëåíèå çíà÷åíèé èíäèêàòîðíîãî áóôôåðà, êîòîðûå ìîãëè áûòü óòåðÿíû 
   if (limit<MaxBar)
     {
      ExtMapBuffer[supr2_bar]=ZigZag2;
      ExtMapBuffer[supr3_bar]=ZigZag3;
      ExtMapBuffer[supr4_bar]=ZigZag4;
      for(int qqq=supr4_bar-1; qqq>supr3_bar; qqq--)ExtMapBuffer[qqq]=0;
      for(int ggg=supr3_bar-1; ggg>supr2_bar; ggg--)ExtMapBuffer[ggg]=0;
     }
   //+-----------------------------------------------------------------+
   //+--- èñïðàâëåíèå âîçíèêàþùèõ ãîðáîâ 
   double vel1, vel2, vel3, vel4;
   int bar1, bar2, bar3, bar4;
   int count;
   if (limit==MaxBar)supr4_bar=MaxBar;
   for(int bar=supr4_bar; bar>=0; bar--)
     {
      if (ExtMapBuffer[bar]!=0)
        {
         count++;
         vel4=vel3;bar4=bar3;
         vel3=vel2;bar3=bar2;
         vel2=vel1;bar2=bar1;
         vel1=ExtMapBuffer[bar];bar1=bar;
         if (count<3)continue;
         if ((vel3<vel2)&&(vel2<vel1)){ExtMapBuffer[bar2]=0;bar=bar3+1;}
         if ((vel3>vel2)&&(vel2>vel1)){ExtMapBuffer[bar2]=0;bar=bar3+1;}
         if ((vel2==vel1)&&(vel1!=0 )){ExtMapBuffer[bar1]=0;bar=bar3+1;}
        }
     }
   //+--- çàïîìèíàíèå âðåìåíè òð¸õ ïîñëåäíèõ ïåðåãèáîâ Çèãçàãà è çíà÷åíèé èíäèêàòîðà â ýòèõ òî÷êàõ 
   time2=Time[bar2];
   time3=Time[bar3];
   time4=Time[bar4];
   ZigZag2=vel2;
   ZigZag3=vel3;
   ZigZag4=vel4;
   //+---          
   // Basic Modification ==>
   i=0;
   for(h=0; h<Bars && i<MaxAnalyze; h++)
     {
      if ((ExtMapBuffer[h]!=0) || (ExtMapBuffer2[h]!=0))
        {
         Peak[i]= h;
         i++;
        }
     }
   for(j=0;j<i && j<MaxAnalyze && found==false;j++)
     {
      Wolf[1]=Peak[j+4]; // 1 High
      Wolf[2]=Peak[j+3]; // 2 Low
      Wolf[3]=Peak[j+2]; // 3 High 
      Wolf[4]=Peak[j+1]; // 4 Low 
      Wolf[5]=Peak[j+0]; // 5 High
      if(// Buy Wolfwave
         Low[Wolf[1]]<High[Wolf[2]] &&  // 1. + 3.a.//1-3
         Low[Wolf[3]]<Low[Wolf[1]] &&   // 2. + 3.b. //3-1
         Low[Wolf[3]]<High[Wolf[4]]  // 4//3-4
              )
        {
         WolfWave="Buy";
        }
      else if
            (// Sell Wolfwave
                 High[Wolf[1]]>Low[Wolf[2]] &&  // 1. + 3.a.
                 High[Wolf[3]]>High[Wolf[1]] &&   // 2. + 3.b. 
                 High[Wolf[3]]>Low[Wolf[4]]  // 4
                      )
           {
            WolfWave="Sell";
           }
         else
           {
            WolfWave="Not";
           }
      if(WolfWave=="Buy")
        {
         ObjectCreate(Title + "Line-1-3", OBJ_TREND, 0, Time[Wolf[1]],Low[Wolf[1]], Time[Wolf[3]],Low[Wolf[3]] );
         //	ObjectSet(Title + "Line-1-3",OBJPROP_RAY,0);
         ObjectSet(Title + "Line-1-3", OBJPROP_COLOR, Lime);
         ObjectSet(Title + "Line-1-3", OBJPROP_WIDTH, 2);
         //	ObjectSet(Title + "Line-1-3",OBJPROP_BACK,1);
         if (ObjectGetValueByShift(Title + "Line-1-3", Wolf[3])>=Low[Wolf[3]])
           {
            ObjectCreate(Title + "1", OBJ_TEXT, 0, Time[Wolf[1]],Low[Wolf[1]]-LowerDistance*Point );
            ObjectSetText(Title + "1", ""+DoubleToStr(1,0), 10, "Arial", Blue);
            ObjectCreate(Title + "2", OBJ_TEXT, 0, Time[Wolf[2]],High[Wolf[2]]+UpperDistance*Point );
            ObjectSetText(Title + "2", ""+DoubleToStr(2,0), 10, "Arial", Blue);
            ObjectCreate(Title + "3", OBJ_TEXT, 0, Time[Wolf[3]],Low[Wolf[3]]-LowerDistance*Point );
            ObjectSetText(Title + "3", ""+DoubleToStr(3,0), 10, "Arial", Blue);
            ObjectCreate(Title + "4", OBJ_TEXT, 0, Time[Wolf[4]],High[Wolf[4]]+UpperDistance*Point );
            ObjectSetText(Title + "4", ""+DoubleToStr(4,0), 10, "Arial", Blue);
            ObjectCreate(Title + "5", OBJ_TEXT, 0, Time[Wolf[5]],Low[Wolf[5]]-LowerDistance*Point );
            ObjectSetText(Title + "5", ""+DoubleToStr(5,0), 10, "Arial", Blue);
            //----
            ObjectCreate(Title + "Line-1-4", OBJ_TREND, 0, Time[Wolf[1]],Low[Wolf[1]], Time[Wolf[4]],High[Wolf[4]] );
            ObjectSet(Title + "Line-1-4", OBJPROP_COLOR, Red);
            //	ObjectSet(Title + "Line-1-4",OBJPROP_RAY,0);
            ObjectSet(Title,OBJPROP_STYLE,STYLE_DOT);
            ObjectSet(Title + "Line-1-4", OBJPROP_WIDTH, 0);
            ObjectSet(Title + "Line-1-4",OBJPROP_BACK,0);
            ObjectSet(Title + "Line-2-5",OBJPROP_BACK,0);
            //	ObjectCreate(Title + "Line-2-5", OBJ_TREND, 0, Time[Wolf[2]],High[Wolf[2]], Time[Wolf[5]],Low[Wolf[5]] );
            //ObjectSet(Title,OBJPROP_STYLE,STYLE_DOT);
            // ObjectSet(Title + "Line-2-5",OBJPROP_RAY,0);
            //ObjectSet(Title + "Line-2-5", OBJPROP_COLOR, Lime);
            // ObjectSet(Title + "Line-2-5", OBJPROP_WIDTH, 1);
            //	Comment("Buy Wolfwave (" + TimeToStr(Time[Wolf[5]],TIME_DATE|TIME_MINUTES) + ") at " + (ObjectGetValueByShift("Line-1-3", Wolf[5])-5*Point) + " SL " + High[Wolf[5]]);
            // found=true;
            //}
            //else 
            //{
            // ObjectDelete(Title + "Line-1-3");
           }
        }
      else if (WolfWave=="Sell")
           {
            ObjectCreate(Title + "Line-1-3", OBJ_TREND, 0, Time[Wolf[1]],High[Wolf[1]], Time[Wolf[3]],High[Wolf[3]] );
            //ObjectSet(Title + "Line-1-3",OBJPROP_RAY,0);
            ObjectSet(Title + "Line-1-3", OBJPROP_COLOR, Lime);
            ObjectSet(Title + "Line-1-3", OBJPROP_WIDTH, 2);
            //	ObjectSet(Title + "Line-1-3",OBJPROP_BACK,1);
            if(ObjectGetValueByShift(Title + "Line-1-3", Wolf[3])<=High[Wolf[3]])
              {
               ObjectCreate(Title + "1", OBJ_TEXT, 0, Time[Wolf[1]],High[Wolf[1]]+UpperDistance*Point );
               ObjectSetText(Title + "1", ""+DoubleToStr(1,0), 10, "Arial", Blue);
               ObjectCreate(Title + "2", OBJ_TEXT, 0, Time[Wolf[2]],Low[Wolf[2]]-LowerDistance*Point );
               ObjectSetText(Title + "2", ""+DoubleToStr(2,0), 10, "Arial", Blue);
               ObjectCreate(Title + "3", OBJ_TEXT, 0, Time[Wolf[3]],High[Wolf[3]]+UpperDistance*Point );
               ObjectSetText(Title + "3", ""+DoubleToStr(3,0), 10, "Arial", Blue);
               ObjectCreate(Title + "4", OBJ_TEXT, 0, Time[Wolf[4]],Low[Wolf[4]]-LowerDistance*Point );
               ObjectSetText(Title + "4", ""+DoubleToStr(4,0), 10, "Arial", Blue);
               ObjectCreate(Title + "5", OBJ_TEXT, 0, Time[Wolf[5]],High[Wolf[5]]+UpperDistance*Point );
               ObjectSetText(Title + "5", ""+DoubleToStr(5,0), 10, "Arial", Blue);
               ObjectCreate(Title + "Line-1-4", OBJ_TREND, 0, Time[Wolf[1]],High[Wolf[1]], Time[Wolf[4]],Low[Wolf[4]] );
               ObjectSet(Title + "Line-1-4", OBJPROP_COLOR, Red);
               //ObjectSet(Title + "Line-1-4",OBJPROP_RAY,0);
               ObjectSet(Title,OBJPROP_STYLE,STYLE_DOT);
               ObjectSet(Title + "Line-1-4", OBJPROP_WIDTH, 0);
               ObjectSet(Title + "Line-1-4",OBJPROP_BACK,0);
               // ObjectCreate(Title + "Line-2-5", OBJ_TREND, 0, Time[Wolf[2]],Low[Wolf[2]], Time[Wolf[5]],High[Wolf[5]] );
               //// ObjectSet(Title,OBJPROP_STYLE,STYLE_DOT);
               // ObjectSet(Title + "Line-2-5",OBJPROP_RAY,0);
               // ObjectSet(Title + "Line-2-5", OBJPROP_COLOR, Yellow);
               // ObjectSet(Title + "Line-2-5", OBJPROP_WIDTH, 1);
               //  ObjectSet(Title + "Line-2-5",OBJPROP_BACK,0);
               // found=true;
              }//else {
            //ObjectDelete(Title + "Line-1-3");
            ObjectsRedraw();
            //}
           }
     }
   return(0);
  }
//+------------------------------------------------------------------+

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