I have seen on many paid video lessons, he recommends not to use , because it is a derivative of two lagging indicator. Doesn't mean it is lagging. Ironically, his Wave indicators are exactly the histogram.
How did I guess the numbers, Recently, I was bored and i was watching a video from one his old video lessons, I purchased among many others. His moving averages are Fibonacci numbers and he likes them. That just makes a great filter. Then by the looks of it and the wave reaction to price + some number of iterations, you can guess the numbers.
Here we have WAVE A / WAVE B. WAVE C figured the first part - Second part of the wave (something different going on there, will not take long to burst that myth).
Again if you think its not working please post...