I have been using Robert's Wolfe Wave indicator and it has done wonders in my chart setups that have led me to profitable trades and has helped me manage my risk with tighter controls. I usually trade the SPY and this indicator works really well on multiple time frames.
Scan for Wolfe Wave
Finding potential Wolfe Wave trades just got a whole lot easier
Users really love the Wolfe Wave indicator and the question I have been asked most often has been if I had a way to scan for that pattern. Until now, my answer has always been, “Unfortunately, I don’t; because the script is too complex for the scan tool.”
I am extremely pleased to announce that after some creative thinking—and a lot of trial and error—I have, finally, created a more streamlined algorithm that will work with the scan tool.
You are now able to quickly and easily search for potential Wolfe Wave trades on any time-frame that is supported by the scan tool. The scan tool will even allow you to setup email or phone alerts if you want.
This indicator is intended to be used as a companion to the Wolfe Wave indicator.
Start scanning for potential trades now.
How to setup a custom scan
This tutorial will demonstrate how to scan for stocks that have potential Wolfe Wave setups and meet the following criteria:
- The stock is a part of the S&P 500 index
- The stock is priced above $50
- The stock is set to a 15 minute chart
Import the Wolfe Wave scan script
note: this step only needs to be completed once.
Setup the scan
Start with a fresh scan and follow the steps below