Weis Wave Volume Indicator for MT5

In short: Weis Wave Volume for MetaTrader 5 groups consecutive candles into up and down waves, shows the volume of each wave, and gives a buy signal when an up wave starts and a sell signal when a down wave starts.

When to use it

• Wyckoff-style analysis: compare the volume behind up waves and down waves.
• Reversal spotting: a new wave in the opposite direction signals a possible turn.
• Breakouts: check whether a breakout wave has more volume than the waves before it.

How it differs

A normal volume histogram shows volume per bar. Weis Wave adds up volume across each price wave, so you see how much effort went into each up or down move.

Getting started

1. Set Trend Detection Length, the number of candles used to define a wave change.
2. Enable downtrend histograms below zero if you want bearish waves shown separately.
3. Compare the size of consecutive up and down waves.
4. Use the tester settings and alerts to follow signals.

Pair it with Cumulative Delta Volume for another view of volume.

Frequently asked questions

How are waves defined?

A run of candles closing higher builds an up wave; when candles start closing lower, a down wave begins. Trend Detection Length sets how many candles are used.

Can bearish waves be shown below zero?

Yes, with the Downtrend Histograms option.

Is there a free demo?

Yes. You can download a free demo from the MQL5 Market and run it in the MetaTrader 5 Strategy Tester before buying.

Full product description

What Does This Indicator Do?

The Weis Wave Volume Indicator for MT5 is a powerful Price Action + Volume tool.

• When a sequence of consecutive candles closes higher, the indicator builds an up wave and generates a buy signal.

• When the market structure changes and candles start closing lower, it creates a down wave and generates a sell signal.

This makes it simple to:
Identify trend reversals
Capture breakouts
Follow market momentum in any instrument

Settings & Parameters

• Trend Detection Length – number of candles used to define trend shifts

• Downtrend Histograms – option to display bearish waves below zero

• Additional Parameters:

  • Tester Settings – for backtesting & strategy optimization

  • Alert Settings – real-time alerts and notifications on every signal

Benefits of Using This Indicator

• Accurate Reversal Detection – highlights potential reversal and continuation zones in trending or ranging markets

• Universal Application – works seamlessly on all markets: Forex, Crypto, Stocks, Commodities, and Indices

• Boosts Confidence – clear buy/sell signals help traders improve entries and exits

• User-Friendly – designed for both intermediate and professional traders

• Versatile Tool – combine with moving averages, support & resistance, or other technical indicators for stronger trading strategies

Why Choose This Indicator?

The Weis Wave Volume Indicator for MT5 brings clarity to price action by merging wave analysis with volume, giving traders a professional tool to anticipate market moves.

Add it to your trading arsenal today and enhance your trend analysis, entry timing, and risk management.