Wolf Wave Finder Indicator

Wolf Wave Finder Indicator

Wolf wave finder indicator for mt4 – download free. Best trend breakout indicator. Accurate trend reversal indicator for mt4.

The Wolf Wave Finder indicator for MetaTrader is a forex indicator that was designed in line with the Wolf Wave patterns of price action. The Wolf wave pattern is one of the best market conditions that project a potential trend reversal zone in the financial market.

The indicator automatically identifies the wolf wave patterns, which look somewhat like the Elliot waves but differs slightly. It (Wolf Wave) consists of a four-wave pattern. The price is expected to move in the direction of the fifth wave, which may also translate to a BUY/SELL signal.

The indicator was built with a trendline and a zigzag-like tool that identifies the presence of the wolf waves in the market. The trendline was incorporated into the indicator to increase the efficiency of the signals. In other words, it (the trendline) helps you to define the trend bias of the market and then trade in that direction.

Before now, the practice was to open a trade position immediately after the indicator identifies the fifth wave. This often leads to a loser trade especially when the trend is in an opposite direction to the entry. The inclusion of the trendline to the Wolf Wave finder indicator was the game changer which has helped to increase the efficiency of the indicator over the previous versions.

Moreover, the Wolf Wave Finder indicator would come in handy for novice, intermediate and experienced forex traders. It works in different timeframes, which makes it ideal to spot scalping, day/intraday, and swing trading opportunities in the market.

How To Trade With Wolf Wave Finder Indicator

The above screenshot depicts how the indicator would look on your MT4 chart. It also shows how to identify a high-probability trade setup/entry.

BUY and SELL Signals: Firstly, wait for the indicator to mark out all the five wolf wave patterns formed in the market. Now, wait for the price to also break the trendline to the upside/downside before opening a BUY/SELL position, respectively.

The above image typifies a high-probability BUY signal. A conservative trader would wait for confirmation (which is highly recommended) before opening a trade position. The trendline confirms a BUY entry when the price breaks it to the upside, for instance.

Conversely, an aggressive trader would have taken a BUY position after the price printed a bullish engulfing candlestick pattern on the fifth wave.

Conclusion
The Wolf Wave Finder indicator for MT4 is a powerful indicator designed to help you spot the beginning of a trend reversal. This may translate to better trading entries and ultimately maximize more pips from the market. What’s more, it is free to download.