LazyBear

Indicator: Weis Wave Volume [LazyBear]

This indicator takes market volume and organizes it into wave charts, clearly highlighting inflection points and regions of supply/demand.

Try tuning this for your instrument (Forex not supported) by adjusting the "Trend Detection Length". This "clubs together" minor waves. If you like an oscillator-kind-of display, enable "ShowDistributionBelowZero" option.

Note: This indicator is a port of a clone of WeisVolumePlugin available for another platform. I don't know how close this is to the original Weis, if any has access to it, do let me know how this compares. Thanks.

More info:
http://weisonwyckoff.com/weis-wave/

Complete list of my indicators:
Master Index: List of all my indicators
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//
// @author LazyBear 
// List of all my indicators: https://www.tradingview.com/v/4IneGo8h/
//
study("Weis Wave Volume [LazyBear]", shorttitle="WWV_LB")
trendDetectionLength=input(2)
showDistributionBelowZero=input(false, type=bool)
mov = close>close[1] ? 1 : close<close[1] ? -1 : 0
trend= (mov != 0) and (mov != mov[1]) ? mov : nz(trend[1])
isTrending = rising(close, trendDetectionLength) or falling(close, trendDetectionLength) //abs(close-close[1]) >= dif
wave=(trend != nz(wave[1])) and isTrending ? trend : nz(wave[1])
vol=wave==wave[1] ? (nz(vol[1])+volume) : volume
up=wave == 1 ? vol : 0
dn=showDistributionBelowZero ? (wave == 1 ? 0 : wave == -1 ? -vol : vol) : (wave == 1 ? 0 : vol)
plot(up, style=histogram, color=green, linewidth=3)
plot(dn, style=histogram, color=red, linewidth=3)
Hi, thanks very much for the script. Is there anyway I can make the detection length a non-integer value?

Thanks again
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Is this indicator unique to Trading view or anyone know if theres a version for ninja Trader 7 please ?
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can u convert it into afl
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https://www.mql5.com/ru/market/product/20418
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chic indicator .So I did the same for MT5 )
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MBoxWave Wyckoff Trading System
Crude Oil Live Trade 12-21-2016 recorded on video
https://www.youtube.com/watch?v=eW5xs0f_5c4
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Highly valuable indicator, reveals it's power over time.
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Is it possible to show the volume in Millions ?
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Is it possible to ad zigzag with volume on end of each swing here? like on weis charts.
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Superior to Weis Wave is MBoxWave which uses boxes and waves and can compute not only volume, but also delta volume, delta percent, time, length, and other things. Much better value than Weis Wave. Check out the MBoxWave Trading system.
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