Discover the power of reversal trading with the Trade Wave suite, featuring our proprietary indicator and screener designed to enhance your trading strategy and decision-making process.

Trade Wave Indicator

Trade Wave indicator is a powerful, momentum-based tool designed for both beginners and professionals to deliver clear, precise signals with an excellent risk-reward ratio. With an inbuilt screener, it ensures you capture optimal trading opportunities without any confusion.

Key Features:

• Accurate Signals: Receive precise buy and sell signals to make informed trading decisions.
• Customization Options: Extensive input options to tailor the indicator to your specific strategy.
• Versatility: Compatible with any timeframe and market segment, including forex, options, equity, and commodities.
• Alerts: Traders can set alerts to see pop up notifications on screen or use our inbuilt screener to get notified about new signals.
• User-Friendly: Suitable for traders of all levels, from beginners to professionals.

Stop Loss and Target Settings:

• Stop Loss Types: Choose from three types of stop losses:
  • Fixed SL: Set a fixed stop loss value for consistent risk management.
  • Dynamic SL: Adjusts with the market, providing a flexible stop loss that moves with price changes.
  • Previous Candle SL: Stop losses based on the recent low (for sell signals) or high (for buy signals) of the last few candles.

• Target Types: Customize your target settings with three options:
  • Fixed Target: Set a fixed target value for consistent profit goals.
  • Dynamic Target: Adjusts with market movements to maximize potential gains.
  • Risk:Reward Target: Define targets based on SL risk:reward ratios (e.g., 1:2), allowing for personalized risk management strategies.

Customization Options:

• Candle Track Back: Adjust the number of candles to track for predictions, balancing signal frequency and accuracy. More candles result in fewer but potentially more reliable signals, while fewer candles increase signal frequency.

Trade Wave Screener

The Trade Wave screener complements our indicator, providing a powerful tool to scan and identify stocks that meet your signal criteria.

Features:

• Stock Selection: Scan up to 200 default stocks across 10 watchlists, or create a custom watchlist with 20 selected stocks.
• Flexible Placement: Customize the placement of the screener table on your TradingView chart for optimal viewing.

Customization Options:

• Tailored Scanning: Adjust parameters to scan for stocks that fit your preferred timeframe and signal criteria. Choose the stocks you want to scan and decide how the screener table is displayed on your chart.

By combining the Trade Wave indicator with the Trade Wave screener, you gain unparalleled flexibility and precision in your trading strategy, ensuring you never miss an opportunity.

5 Best Practices for Using Trade Wave Indicator

To maximize the effectiveness and accuracy of the Trade Wave indicator, consider the following best practices during real time trading:

1. 5 Candle (5C) Rule:
   • The Trade Wave indicator thrives on momentum. Implement the 5 Candle (5C) rule: if a stock doesn’t move significantly within 5 candles after a signal is generated, consider exiting the trade and waiting for the next signal. Sharp market moves typically begin within this 5-candle window, allowing you to catch the most significant price movements.
2. Risk-Reward Ratios:
   • While the indicator offers various built-in target and stoploss options (both static and dynamic), generally, the reward in this indicator is way higher than the stoploss.
     • Ultra-safe traders can opt for a 1:1 risk-reward ratio, but typical traders should aim for a 1:2 ratio, and aggressive traders might go for a 1:3 ratio.
     • Trailing stop losses is crucial—traders using 1:2 and 1:3 ratios can trail the stoploss to break even once a 1:1 ratio is achieved.
     • On higher time frames, such as the 1-hour chart, it’s possible to achieve even 1:4 or 1:5 ratios, especially when applying the 5C rule or other SL methods provided in the indicator.
     • Instead of focusing solely on win percentage, aim for trades with a favorable risk-reward ratio.
3. Multi-Time Frame Confirmation:
   • For added confirmation of signals, cross-reference the indicator’s signals across multiple time frames for the same stock/index. If the signal aligns on both a higher time frame and a lower time frame, the likelihood of accuracy increases. This method ensures that your trades are supported by broader market trends.
4. Market Direction Focus:
   • In non-directional or sideways markets, pay attention to both buy and sell signals. This approach allows you to capitalize on market fluctuations regardless of direction.
   • In trending markets, if the market is traveling upwards, prioritize BUY signals. Conversely, if the market is trending downwards, focus on SELL signals. This strategy helps align your trades with the overall market momentum.
5. Avoiding Big Candle Signals in Short Time Frames:
   • In smaller time frames, it’s advisable to ignore signals that appear with large candles, as most of the move might have already occurred. The indicator input section includes an option to ignore longer candles based on the average of the last 10 candles. Users can adjust this setting tailoring it to the time frame they trade. This helps avoid entering trades too late and ensures you capture more optimal entry points.