Wave59

Wave59 Reviews

 

What Is Wave59?

Published February 16th, 2009 in Uncategorized | No Comments »

Wave59 is charting software made for traders by traders to who knows the processes being encountered in trading. T o be able to use this software, the current system of the computer must be able to support a minimum of 800 megahertz processor, 128 Megs RAM, 60 Megs free disk space, and Windows 2000 or XP or Vista. Also, the most important is the internet connection and an email account. The technologies or tools used in the software are geometric patterns and time and price patterns. Also, it made use of the new and more advanced way of approach to the market. It has been developed to a analyze markets that is more advanced than the traditional way. Further, the existence of neural networks has been incorporated in Wave59. The neural network offers a way of improving the existing indicators through the use of artificial intelligence techniques.
Wave59 reviews state that it is equipped with 40 indicators and functions. Other indicators are available for download or can also be invented using the QScript. The latter is a coding language that is easy to learn and is perfectly designed for traders. In the main chart, the software shows all the indicators together. The charts can be formatted using candlesticks, bars and lines as well as indicators. In the software, there are many drawing tools and line studies that are available with the quality of being unique that offers the user with more opportunities for analyzing completely. Scaling is automatic and the use of drawing tools is much easier too. Further, the drag and drop functionality in charts along with the moving of indicators and trend lines are the important parts of the charting software.

One of the technologies included in the software is geometric patterns. The patterns are created and stored through wave59. These geometric patterns are for the analysis of price actions based on trends, ellipses, and other shapes that portrays a trend. After a pattern has been created, it is used a background for any chart and depict price movements. On the other hand, the time and price patterns can be inserted in the chart or program. They can be created by simply connecting the dots using the mouse or can be through coding using the programming rules.  The choice of way to establish patterns depends on the preference of the trader and which is easier for him or her. Meanwhile, the neural sets are models made by the computer to process information using the so called “artificial intelligence”. They are mainly preferred when it comes to charting software because of their capability to process parallel sources of information at the same time. They are also referred to as genetic algorithms which as optimizing tools. The users of the software are supported by a three stage assistant.

The other tools offered by wave59 are Gann “Square of Nine” calculator and the Training Mode of Charts. The preferred chart is loaded along with its indicators using the training tool. It can be played back too by pressing the space bar. This is most useful for newbie in the trading process.

How Does Wave59 Work?

Published February 16th, 2009 in Uncategorized | No Comments »

Wave59 is stock market software that supports the need of traders for charts and pasterns. It offers a variety of completely different tools compared to other software available in the market. The designing and programming of the software is done by a CTA that is why the main purpose is for live trading. In fact, the creator once stated in a Wave59 review that it is supposed to be for personal use only but it has expanded to so much that led to its public release. Among the features of the software are QScript which a coding language that lets the trader to create tools through the use of the tools provided, time and price pattern function as well as geometric patterns, and analysis opportunities. These can be automatic bar counts, circles, ellipses, Gann quadrates, and Fibonacci expansions. Further, it included 40 indicators and functions too.

Since Wave59 offers different sets of tools and techniques, it is vital to learn how it works and how it does ensures the success of the trader when he or she is using it. There are basically six techniques employed by the software. The first technique states three points which are using a three to six indicators always and placing a trade when all of them gives the same signal or majority, using non-correlated indicators which are measures of different parts of the market patterns, and using stops at the right moment. The second technique states that four different indicators communicate buy signals and the trader has to go short when he or she encountered them. Third, even if one or two of the indicators are used, the trader must select those that appeals to him or her most. However, it is important to take note that they should be non-correlated but with harmony as they works. Fourth, wave59 is capable of scalp tracking where the trader can look into numerous trades in just one day. Fifth, remember to use techniques for long term trades and all six the same indicators that say sell signal the trader to go short. Finally, pay attention when the fractal index is declining. This is an indicator measures trend strength using fractal patterns in the market.

Meanwhile, the advanced day trading indicators are the 9-5 count, smart money index, fractal trend index, and the Fibonacci vortex. The 9-5 count tracks price cycles to establish future turning points. While the smart money index determines the proprietary index, the fractal index computes trend fractals and patterns. The traders in the market are divided into two which are professional or smart money and the amateur or dumb money. Wave59 can measure the two groups’ activities and compare them. Also, the greater the fractals index in the market, the stronger the trend. The Fibonacci vortex, on the other hand, is the geometric meter behind all of the price changes in the market. This works when placed in the chart of the trader and lined up in the current price activity, it will show the market as it moves through the high and low of the time and prices.