MBoxWave Wyckoff Trading System Indicator Settings for MetaTrader

The MboxWave Wyckoff Trading System for MetaTrader consists of the following indicators:

The next sections will explain all the indicator options that can be set for the indicators.

 

MBoxChart

This indicator is what draws the boxes on the chart. They are drawn in real time and the data calculated in the data box also happens
in real time. The boxes are a mini wave, and allow you to see them on the chart really well.

 

MBoxChart Example

A box encompasses upbars or downbars. They are mini waves. The main characteristics of a box are height and width. The height represents the length of the wave. The width has a correlation to either volume or time, depending on the type of chart we are looking at. If you use a volume chart then the width will equal the volume. If using a tick chart the width shows how much effort (number of bars in box) were drawn to form that wave and the progress made.

The boxes are a really good way to visually see which way the market is going. When there are more red boxes that are longer and bigger than the blue boxes, price tends to go down. When there are more blue boxes, the opposite is true.

 

MBoxChart Data Box

When you hover over any box with the mouse cursor, you
will see all the information about that box in the data box.

 

MBoxChart Parameters

1. EnableBorder - True to draw box border. False to not draw box border

2. PeriodsToDraw - How many boxes will be drawn on the chart starting from the current one.
    Set to 0 to draw all boxes

3. UpBoxColor, DownBoxColor, UpBorderColor, DownBorderColor, UpBarColor, DownBarColor.
    These control all the colors for the boxes and the bars inside of them.

 

 

 

 

MBoxHistogram

This indicator draws the histogram that correlates to the boxes drawn by MboxChart.

 

MBoxHistogram Example

 

MBoxHistogram Data Box

This will show you what the histogram
is displaying and its value

 

MBoxHistogram Parameters

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1. Block View - If set to true, this will draw the histogram in blocks.
If set to false, will draw the histogram in steps

2. Display - You can choose what the histogram will show. You can choose from
Volume, Bid Volume, Ask Volume, Delta Volume, Delta Percent, Length, Minutes, Width.

3. Invert
       No: Does nothing.
       Yes: Inverts the histogram (Shows histogram upside down).
       Only Negative: Will invert negative Delta Volume or negative Delta Percent.
       Only Down Waves: Will invert down waves. Down waves will be below zero line and negative.
      
       Example viewing Delta Volume, Invert set to No
       

       Example viewing Delta Volume, Invert set to Only Negative
       

      Example viewing Total Volume, Invert set to Only Down Waves
       

 

MWaveChart

This indicator draws the wave lines up and down and can display up to 2 different pieces of data on each wave.

 

MWaveChart Example

In this example the primary label (big text) shows volume and the second label (small text) shows delta volume.
There is no delay in wave calculation. The wave calculates and is updated in real time. 

 

MWaveChart Data Box

When you hover over any wave with
the mouse cursor, you will see all
the information about that wave in
the data box.

 

MWaveChart Parameters

1. Draw Labels - If set to false, the labels will not be drawn

2. Primary Label - Can show Volume, Bid Volume, Ask Volume, Delta Volume, Delta Percent, Length,
Minutes, Width.

3. Second Label - Can show Volume, Bid Volume, Ask Volume, Delta Volume, Delta Percent, Length,
Minutes, Width.

4. Primary Divisor - The Primary label will be divided by this.

5. Second Divisor - The Second label will be divided by this.

6. Calculation Mode - Use Ticks or Percent to calculate wave formation.

7. Reversal Amount - Enter the number in Ticks or Percent to determine when a new wave forms.
       Example: For a 3 tick (pip) reversal wave enter "3". For a 5% percent reversal wave enter "5".

8. Label Offset. Adjust the offset of the labels drawn in pixels.

And you can adjust all the visuals parameters for the labels and waves.

 

 

 

MWaveHistogram

This indicator draws the histogram that correlates to the zig zags.

MWaveHistogram Example

Showing wave volume in the histogram

 

MWaveHistogram Data Box

This will show you what the histogram
is displaying and its value

 

MWaveHistogram Parameters

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1. Display - You can choose what the histogram will show. You can choose from
Volume, Bid Volume, Ask Volume, Delta Volume, Delta Percent, Length, Minutes, Width.

2. Calculation Mode - Use Ticks or Percent to calculate wave formation.

3. Reversal Amount - Enter the number in Ticks or Percent to determine when a new wave forms.
       Example: For a 3 tick (pip) reversal wave enter "3". For a 5% percent reversal wave enter "5".

4. Invert
       No: Does nothing.
       Yes: Inverts the histogram (Shows histogram upside down).
       Only Negative: Will invert negative Delta Volume or negative Delta Percent.
       Only Down Waves: Will invert down waves. Down waves will be below zero line and negative.
      
       Example viewing Delta Volume, Invert set to No
       

       Example viewing Delta Volume, Invert set to Only Negative
       

      Example viewing Total Volume, Invert set to Only Down Waves
       

 

MAutoFloorCeiling

This indicator has one main setting. The period controls how many previous bars are analyzed when drawing the automatic support and resistance lines. A smaller period will draw more lines. A larger period will draw less, but they will be longer. Check out the page MAutoFloorCeiling Indicator for how to use this indicator. Fibonacci numbers tend to be good periods. You can try 8, 13, 21, 34, 55.

 

MCumulativeDelta

This indicator has one main setting. The period controls how many previous bars are analyzed when determining the cumulative delta in the histogram. A smaller period will cause the histogram to react faster. A larger period will have more smoothing and a slower reaction in the histogram. Check out the page MCumulativeDelta Indicator for how to use this indicator. Some numbers to try for periods can be 13, 20, 55, 200 (long term).