Measuring Weis Volume Waves and Their Relative Intensity
Summary
Wave Weis Bar Force is a volume indicator based on Weis wave analysis. It accumulates volume as long as the market direction remains unchanged, then starts a new accumulation when direction shifts. The indicator grades a wave’s intensity by comparing its accumulated volume with the largest recent accumulation over a configurable reference window. Users can choose tick or real volume as the input source and set separate color levels for bullish and bearish waves.
The description also defines two chart markers: WaveMax identifies the highest-volume bar in the current wave, while WaveClimax marks an accumulation that exceeds the best historical accumulation. These markers are hidden by default, and only the current cumulative value appears in the legend. The source describes the indicator’s mechanics and display settings but provides no trading rules, chart examples with outcomes, or evidence of predictive performance. Its usefulness across assets and timeframes, especially intraday, is asserted without supporting tests in the supplied text.
Key ideas
- Volume accumulates within each directional wave and resets when direction changes.
- Wave intensity is judged against the largest recent accumulation over a configurable window.
- The indicator distinguishes bullish and bearish intensity with separate color scales.
- WaveMax and WaveClimax mark notable bars or accumulations, but predictive performance is not documented.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.