Bullhouse WaveTracker

Wave Tracker 

The Wave Tracker is an innovative price action tool that plots wave patterns directly on your chart, helping traders identify significant market movements and potential turning points. By using a sophisticated ZigZag algorithm, it creates a visual representation of price waves, making it easier to spot trends, reversals, and important price levels.

• Direct Chart Visualization: Plots waves directly on your price chart for seamless analysis
• Smart Wave Detection: Advanced ZigZag algorithm for accurate wave identification
• Color-Coded Waves:
  • Aqua: Bullish waves (upward price movements)
  • Red: Bearish waves (downward price movements)
  • Yellow: Indecision/consolidation periods
• Customizable Sensitivity: Adjust wave detection settings to match your trading style

Input Parameters

• Reference Price: Choose between closing prices or price extremes for wave calculation
• ZigZag Period: Fine-tune the sensitivity of wave detection (in ticks)
• Wave Colors: Fully customizable color scheme for different wave types

Applications

• Track trend direction in real-time
• Identify potential reversal points
• Spot key support and resistance levels
• Analyze wave patterns for trading decisions
• Perfect for swing trading and position trading

Trading Benefits

• Clear visual representation of price movement
• Helps eliminate market noise
• Easier identification of market structure
• Supports multiple trading strategies
• Works across different timeframes
  

Note: Past performance does not guarantee future results. Please test the indicator thoroughly in a demo account before using it in live trading.