WolfeWaveVisual Indicator - User Manual
Overview
The WolfeWaveVisual indicator is designed to automatically identify and display Wolfe Wave patterns on your NinjaTrader 8 charts. This implementation features enhanced visualization, flexible detection parameters, and real-time alerts.
Key Features
Automatic Pattern Detection: Identifies both bullish and bearish Wolfe Wave patterns
Clear Visual Markers: Highlights each swing point with diamonds and numbered labels
ZigZag Visualization: Shows the underlying price structure used for pattern detection
Target Price Projection: Calculates and displays potential price targets based on pattern geometry
Configurable Parameters: Adjust sensitivity and visualization to suit different markets and timeframes
Debug Mode: Provides detailed information about pattern detection process
Real-time Alerts: Notifies you when new patterns form
Parameter Settings
Parameter
Description
Recommended Range
FractalStrength
Number of bars on each side to confirm swing points
2-5
MaxLookback
Maximum number of bars to analyze for patterns
100-500
PatternTolerance
Flexibility in pattern validation (higher = more patterns)
0.3-0.7
MinPointsForPattern
Minimum number of swing points before pattern checking
5-10
ShowAllPoints
Display all detected zigzag points
True
ShowTargetProjection
Display target price projection lines
True
DebugMode
Show detailed debug information
True (initially)
Color Settings
Setting
Description
BullishColor
Color for bullish Wolfe Wave patterns
BearishColor
Color for bearish Wolfe Wave patterns
ZigZagColor
Color for the zigzag connecting swing points
Pattern Identification
The indicator identifies two types of Wolfe Wave patterns:
Bullish Wolfe Wave
Forms during downtrends
Consists of 5 points (3 valleys and 2 peaks)
Point 5 is lower than point 3
Points 1-3 and 2-4 converge
Potential buying opportunity at point 5
Bearish Wolfe Wave
Forms during uptrends
Consists of 5 points (3 peaks and 2 valleys)
Point 5 is higher than point 3
Points 1-3 and 2-4 converge
Potential selling opportunity at point 5
Troubleshooting
Issue
Solution
No patterns detected
Increase PatternTolerance, decrease FractalStrength
Too many false patterns
Decrease PatternTolerance, increase FractalStrength
ZigZag lines missing
Ensure ShowAllPoints is enabled
No visual elements
Check that the indicator is applied to price panel
Tips for Best Results
Use on higher timeframes (H1, H4, Daily) for more reliable patterns
Combine with volume analysis and support/resistance levels
Start with DebugMode enabled to understand detection process
Adjust FractalStrength based on market volatility
Consider patterns more reliable when they align with the overall trend
Technical Notes
Indicator recalculates on each new bar
Pattern detection uses a zigzag-based approach
Target prices are calculated using projection of line 1-3
Alerts trigger once when a pattern is first detected