Wolf_v2

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Wolf_v2

This script is designed to identify specific price patterns known as "Wolf Waves" by analyzing the historical movement of market prices. It works by filtering out minor market noise to focus on significant structural shifts in the chart.

How the Logic Works

1. Structural Filtering (ZigZag Logic) The script begins by scanning historical price data to identify major highs and lows. Instead of looking at every single price tick, it uses a "depth" and "deviation" filter. This means it ignores small fluctuations and only marks significant turning points. It essentially draws an invisible backbone of the market's primary movement, ensuring that the patterns identified are based on substantial trends rather than momentary volatility.

2. Peak Identification Once the major highs and lows are established, the script identifies the most recent significant "peaks." It organizes these peaks into a sequence to look for a specific geometric relationship between five consecutive points in the price movement.

3. Pattern Recognition (Wolf Wave Detection) The core of the logic involves checking if these five points meet specific criteria for either a "Buy" or "Sell" Wolf Wave:

  • Buy Wave: The script looks for a specific series of ups and downs where the low points and high points relate to each other in a way that suggests a reversal or a specific momentum shift (specifically checking if certain lows are below previous highs and vice versa).
  • Sell Wave: Similarly, it looks for a descending pattern where the highs and lows form a specific structural sequence indicating downward pressure.

4. Visual Confirmation and Labeling When the script successfully identifies one of these patterns, it performs several automated actions on your chart:

  • Trend Lines: It draws visual trend lines connecting key points (such as Point 1 to Point 3) to highlight the structure.
  • Numbered Labels: It places numbered markers (1 through 5) above or below the peaks to show you exactly which price points were used to calculate the wave.
  • On-Screen Data: It generates a text comment on your screen providing the entry time, the calculated price level, and a suggested Stop Loss (SL) based on the peak of the wave.

Summary for the User

In simple terms, this script acts as an automated "pattern hunter." It cleans up the messy price action of a chart, finds the most important peaks and valleys, and then alerts you whenever those peaks form a specific "Wolf Wave" shape. When a pattern is found, it visually maps out the wave on your screen and provides you with the basic details needed to understand that specific movement.

Miscellaneous
Implements a curve of type %1
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Wolf_v2 
//+------------------------------------------------------------------+
//| A WolfWave finder based on ZIGZAG.MQ4                            |
//| fukinagashi a t gmx p o i n t net                                              |
//+------------------------------------------------------------------+

#property indicator_chart_window
#property indicator_buffers 1
#property indicator_color1 DodgerBlue
#define MaxAnalyze 200
#define UpperDistance 5
#define LowerDistance 5
#define Title "WW"

//---- indicator parameters
extern int ExtDepth=12;
extern int ExtDeviation=5;
extern int ExtBackstep=3;

//---- indicator buffers
double ExtMapBuffer[];
double ExtMapBuffer2[];

//+------------------------------------------------------------------+
//| Custom indicator initialization function                         |
//+------------------------------------------------------------------+
int init()
  {
   IndicatorBuffers(2);
//---- drawing settings

   SetIndexStyle(0,DRAW_SECTION);
//---- indicator buffers mapping
   SetIndexBuffer(0,ExtMapBuffer);
   SetIndexBuffer(1,ExtMapBuffer2);
     
   SetIndexEmptyValue(0,0.0);

   ArraySetAsSeries(ExtMapBuffer,true);
   ArraySetAsSeries(ExtMapBuffer2,true);
//---- indicator short name
   IndicatorShortName("WolfWave");
//---- initialization done

   return(0);
  }
  
int deinit()
{
      for (int i=1;i<=5;i++) {
         ObjectDelete(Title + ""+i);
      }
   
      ObjectDelete(Title + "Line-2-4");   
      ObjectDelete(Title + "Line-1-3");
      ObjectDelete(Title + "Line-1-4");
      }

//+------------------------------------------------------------------+
//|                                                                  |
//+------------------------------------------------------------------+
int start()
  {
   int    shift, back,lasthighpos,lastlowpos;
   double val,res;
   double curlow,curhigh,lasthigh,lastlow;
   int num=0;

   int Peak[MaxAnalyze],h,i,j;
   int Wolf[6];
   string WolfWave="None";
   double Winkel1, Winkel2;
   bool found=false;
   
   for(shift=Bars-ExtDepth; shift>=0; shift--)
     {
      val=Low[Lowest(NULL,0,MODE_LOW,ExtDepth,shift)];
      if(val==lastlow) val=0.0;
      else 
        { 
         lastlow=val; 
         if((Low[shift]-val)>(ExtDeviation*Point)) val=0.0;
         else
           {
            for(back=1; back<=ExtBackstep; back++)
              {
               res=ExtMapBuffer[shift+back];
               if((res!=0)&&(res>val)) ExtMapBuffer[shift+back]=0.0; 
              }
           }
        } 
      ExtMapBuffer[shift]=val;
      //--- high
      val=High[Highest(NULL,0,MODE_HIGH,ExtDepth,shift)];
      if(val==lasthigh) val=0.0;
      else 
        {
         lasthigh=val;
         if((val-High[shift])>(ExtDeviation*Point)) val=0.0;
         else
           {
            for(back=1; back<=ExtBackstep; back++)
              {
               res=ExtMapBuffer2[shift+back];
               if((res!=0)&&(res<val)) ExtMapBuffer2[shift+back]=0.0; 
              } 
           }
        }
      ExtMapBuffer2[shift]=val;
     }

   // final cutting 
   lasthigh=-1; lasthighpos=-1;
   lastlow=-1;  lastlowpos=-1;

   for(shift=Bars-ExtDepth; shift>=0; shift--)
     {
      curlow=ExtMapBuffer[shift];
      curhigh=ExtMapBuffer2[shift];
      if((curlow==0)&&(curhigh==0)) continue;
      //---
      if(curhigh!=0)
        {
         if(lasthigh>0) 
           {
            if(lasthigh<curhigh) ExtMapBuffer2[lasthighpos]=0;
            else ExtMapBuffer2[shift]=0;
           }
         //---
         if(lasthigh<curhigh || lasthigh<0)
           {
            lasthigh=curhigh;
            lasthighpos=shift;
           }
         lastlow=-1;
        }
      //----
      if(curlow!=0)
        {
         if(lastlow>0)
           {
            if(lastlow>curlow) ExtMapBuffer[lastlowpos]=0;
            else ExtMapBuffer[shift]=0;
           }
         //---
         if((curlow<lastlow)||(lastlow<0))
           {
            lastlow=curlow;
            lastlowpos=shift;
           }
         lasthigh=-1;
        }
     }
  
   for(shift=Bars-1; shift>=0; shift--)
     {
      if(shift>=Bars-ExtDepth) ExtMapBuffer[shift]=0.0;
      else
        {
         res=ExtMapBuffer2[shift];
         //if(res!=0.0) ExtMapBuffer[shift]=res;
         if(res>0.0) ExtMapBuffer[shift]=res;         
        }
     }
     
// Basic Modification ==>

	i=0;
   for(h=0; h<Bars && i<MaxAnalyze; h++)
   {
      if ((ExtMapBuffer[h]!=0) || (ExtMapBuffer2[h]!=0)) {
         Peak[i]= h;
         i++;    
      }
   }
   
   for(j=0;j<i && j<MaxAnalyze && found==false;j++) {
      Wolf[1]=Peak[j+4]; // 1 High
      Wolf[2]=Peak[j+3]; // 2 Low
      Wolf[3]=Peak[j+2]; // 3 High 
      Wolf[4]=Peak[j+1]; // 4 Low 
      Wolf[5]=Peak[j+0]; // 5 High
      if (     // Buy Wolfwave
         Low[Wolf[1]]<High[Wolf[2]] &&  // 1. + 3.a.
         Low[Wolf[3]]<Low[Wolf[1]] &&   // 2. + 3.b. 
         Low[Wolf[3]]<High[Wolf[4]]  // 4
         ) {
            WolfWave="Buy";
      } else if 
         (     // Sell Wolfwave
         High[Wolf[1]]>Low[Wolf[2]] &&  // 1. + 3.a.
         High[Wolf[3]]>High[Wolf[1]] &&   // 2. + 3.b. 
         High[Wolf[3]]>Low[Wolf[4]]  // 4
         ) {
            WolfWave="Sell";
         } else {
            WolfWave="Not";
      }
      
      if(WolfWave=="Buy") {
        	ObjectCreate(Title + "Line-1-3", OBJ_TREND, 0, Time[Wolf[1]],Low[Wolf[1]], Time[Wolf[3]],Low[Wolf[3]] );
        	if (ObjectGetValueByShift(Title + "Line-1-3", Wolf[5]) >= Low[Wolf[5]]) {
           	ObjectCreate(Title + "1", OBJ_TEXT, 0, Time[Wolf[1]],Low[Wolf[1]]-LowerDistance*Point );
           	ObjectSetText(Title + "1", ""+DoubleToStr(1,0), 10, "Arial", Red);
           	ObjectCreate(Title + "2", OBJ_TEXT, 0, Time[Wolf[2]],High[Wolf[2]]+UpperDistance*Point );
           	ObjectSetText(Title + "2", ""+DoubleToStr(2,0), 10, "Arial", Red);
           	ObjectCreate(Title + "3", OBJ_TEXT, 0, Time[Wolf[3]],Low[Wolf[3]]-LowerDistance*Point );
           	ObjectSetText(Title + "3", ""+DoubleToStr(3,0), 10, "Arial", Red);
           	ObjectCreate(Title + "4", OBJ_TEXT, 0, Time[Wolf[4]],High[Wolf[4]]+UpperDistance*Point );
           	ObjectSetText(Title + "4", ""+DoubleToStr(4,0), 10, "Arial", Red);
           	ObjectCreate(Title + "5", OBJ_TEXT, 0, Time[Wolf[5]],Low[Wolf[5]]-LowerDistance*Point );
           	ObjectSetText(Title + "5", ""+DoubleToStr(5,0), 10, "Arial", Red);
           	ObjectCreate(Title + "Line-1-4", OBJ_TREND, 0, Time[Wolf[1]],Low[Wolf[1]], Time[Wolf[4]],High[Wolf[4]] );
           	ObjectSet(Title + "Line-1-4", OBJPROP_COLOR, LimeGreen);
          	ObjectSet(Title + "Line-1-4", OBJPROP_WIDTH, 2);
           	Comment("Buy Wolfwave (" + TimeToStr(Time[Wolf[5]],TIME_DATE|TIME_MINUTES) + ") at " + (ObjectGetValueByShift("Line-1-3", Wolf[5])-5*Point) + " SL " + High[Wolf[5]]);
          	// found=true;
         } else {
            ObjectDelete(Title + "Line-1-3");
         }
      } else if (WolfWave=="Sell") {
         ObjectCreate(Title + "Line-1-3", OBJ_TREND, 0, Time[Wolf[1]],High[Wolf[1]], Time[Wolf[3]],High[Wolf[3]] );
         if ( ObjectGetValueByShift(Title + "Line-1-3", Wolf[5]) <= High[Wolf[5]] ) {
           	ObjectCreate(Title + "1", OBJ_TEXT, 0, Time[Wolf[1]],High[Wolf[1]]+UpperDistance*Point );
            ObjectSetText(Title + "1", ""+DoubleToStr(1,0), 10, "Arial", Red);
            ObjectCreate(Title + "2", OBJ_TEXT, 0, Time[Wolf[2]],Low[Wolf[2]]-LowerDistance*Point );
            ObjectSetText(Title + "2", ""+DoubleToStr(2,0), 10, "Arial", Red);
            ObjectCreate(Title + "3", OBJ_TEXT, 0, Time[Wolf[3]],High[Wolf[3]]+UpperDistance*Point );
            ObjectSetText(Title + "3", ""+DoubleToStr(3,0), 10, "Arial", Red);
            ObjectCreate(Title + "4", OBJ_TEXT, 0, Time[Wolf[4]],Low[Wolf[4]]-LowerDistance*Point );
            ObjectSetText(Title + "4", ""+DoubleToStr(4,0), 10, "Arial", Red);
            ObjectCreate(Title + "5", OBJ_TEXT, 0, Time[Wolf[5]],High[Wolf[5]]+UpperDistance*Point );
            ObjectSetText(Title + "5", ""+DoubleToStr(5,0), 10, "Arial", Red);
            ObjectCreate(Title + "Line-1-4", OBJ_TREND, 0, Time[Wolf[1]],High[Wolf[1]], Time[Wolf[4]],Low[Wolf[4]] );
            ObjectSet(Title + "Line-1-4", OBJPROP_COLOR, LimeGreen);
            ObjectSet(Title + "Line-1-4", OBJPROP_WIDTH, 2);
           	Comment("Sell Wolfwave (" + TimeToStr(Time[Wolf[5]],TIME_DATE|TIME_MINUTES) + ") at " + (ObjectGetValueByShift("Line-1-3", Wolf[5])-5*Point) + " SL " + High[Wolf[5]]);
            // found=true;
         } else {
           	ObjectDelete(Title + "Line-1-3");
         }
      } 
   }
}

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