This is an indicator to complement @modhelius' Weis Wave Indicator.
Original code has been modified to display wave (cumulative) numbers above or below the latest candle of the corresponding wave on the main pane. Since we are concerned only with relative , NUMBERS HAVE BEEN SCALED DOWN. (If you need actual numbers, uncheck "Scale Down Volume" option in Settings). Rising wave is denoted in green. Falling wave is denoted in red. Developing wave is postfixed with a '_'. Confirmed wave volumes won't have this.
Who is it for?
This indicator is useful if you already use Weis Waves in your analysis and could do with an additional numerical representation of the wave on the main pane. Can be used in conjunciton with @modhelius' Weis Wave (WWV) indicator (need to be added separately) to complement the visual representation of the waves. Can be used independently as well.
Pelase note that if you use any other Weis Wave indicator (other than @modhelius'), the numbers and the waveforms might not match.
- Added a ZigZag option. Disabled by default. Enable it from Settings.
- Added Wave Pivot Markers. Disabled by default. Enable it from Settings. If you don't need the Zig Zag displayed, you can use wave pivot markers to see the reference points for wave volume numbers.
- Colors are now configurable
- Volume Scale Down Factor added as an input. Use this if the volume figures get too lengthy/messy for easy readability
- Minor bug fix
- Code cleanup
Please note that although most symbols work well with small values for "Value" in the "Traditional" mode, some symbols (like ETHUSD for e.g.) *may* need to have this set very high (in the 100,000s) to have any effect.
- Major Bug Fix: Fixed a calculation error in cumulative wave volume
- Minor Bug Fix: Fixed a boundary case wrt update of the developing volume
- No change in features
Disabled by default. Enable and change colors from Settings.
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.