The Wave PM (Whistler Active Volatility Energy Price Mass) indicator is an oscillator described in the Mark Whistler’s book “Volatility Illuminated”.
The Wave PM was specifically designed to help read cycles of volatility. Read when a strong trend is about to start and end, along with the potential duration of lateral chop. By using concepts of probability and volatility, which anyone can understand, retail traders can learn to think about “risk” more like an institutional trader… With WAVE PM and an understanding of institutional risk-based trading, at home traders are able to start seeing volatility as opportunity, not an “out of the blue” hindrance.
Price Mass is not a directional oscillator it’s more of a gauge of potential energy left in the distribution cycle from Mark Whistler’s book “Volatility Illuminated”
Discussion about the indicator and other concept derivated took place here.
//PRC_Mark Whistler’s Wave PM | indicator
//Nicolas @ www.prorealcode.com
//Sharing ProRealTime knowledge
// --- settings
// --- end of settings
if barindex>max(Chars,BandsPeriod) then
Dev = std[BandsPeriod]*BandsDeviation
Dev1 = square(Dev / Pointsize)
if temp<>0 then
return osc, 0.9 style(dottedline,1)
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