MBoxWave Wyckoff Trading System Indicator Settings for Sierra Chart

The MboxWave Wyckoff Trading System for Ninja Trader 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. Block View. If set to false, boxes will not be drawn as blocks.
       Example, set to false:
       

1. Color Bars - If set to true this will color the bars in the boxes using Up Bar Color
and Down Bar Color. If set to Only Wicks, will color only the wick of the bar

2. Session Gap - Will draw a new box if the time difference between 2 bars exceeds
set amount in seconds. This is useful if you you like to use session templates filtering
charts based on a time range. That way you won't see a huge box in between sessions.

All the colors can be changed on the Subgrpahs tab

 

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, Time, Width.

3. Invert
       False: Does nothing.
       True: Inverts the histogram (Shows histogram upside down).
       Only Negative: Will invert negative Delta Volume or negative Delta Percent.
      
       Example viewing Delta Volume, Invert set to False
       

       Example viewing Delta Volume, Invert set to Only Negative
       

       It should be noticed , where the grey arrow is pointing that there is negative delta
       volume on an upbox. When Invert is set to Only Negative and we have
       negative delta volume on an upbox, or positive delta volume on a downwave,
       those bars in the histogram will be painted grey to be able discern this. This
       color can be changed in "Opposite Volume Box".

4. Market Hours - This only applies when viewing Time. Setting a time range for 
market hours will filter out calculating time when outside this range. This is very
convenient so that we dont see huge time waves outside normal or busy trading
times.

       Example. Market Hours set to 0, will not filter out time collection
       

       Example: Market Hours set to 0100-1500
       

5. Maximum Time. Also filters time. If time for a wave exceeds set amount in seconds, time
will stop calculating for that wave.

6. Session Gap - Will draw a new box if the time difference between 2 bars exceeds
set amount in seconds. This is useful if you you like to use session templates filtering
charts based on a time range. That way you won't see a huge box in between sessions.

 

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 shows time (in seconds) and the second label shows delta volume. On the left we begin coming
down on -38 in delta volume, showing supply. We see an effort / reward in the 131 and 217 up waves which show time. The 217
spent a lot more time and no new high. Then we move down

As we continue to the center of the chart we have effort / reward on the 275 and 238 downwaves. Demand comes in on the 489
second upwave along with increased delta volume.

 

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

1. Second Label - Can show Volume, Bid Volume, Ask Volume, Delta Volume, Delta Percent, 
Length, Time, Width.

3. Primary Divisor - If you want to show the number shown by the label in a more tidy manner, use
the divisor. If set to 0, will try to find a nice divisor to use automatically.

4. Second Divisor - If you want to show the number shown by the label in a more tidy manner, use
the divisor. If set to 0, will use the same divisor as the primary divisor

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

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

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

And you can adjust all the color parameters for the labels and waves in the Subgraphs tab.

 

 

 

MWaveHistogram

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

MWaveHistogram Example

Showing wave leg time 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, Leg Time, Bar Time, Length, Width.
If set to Bar Time, the histogram will show an individual bar's time.

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 reversal wave enter "3". For a 5% percent reversal wave enter "5".

4. Invert
       False: Does nothing.
       True: Inverts the histogram (Shows histogram upside down).
       Only Negative: Will invert negative Delta Volume or negative Delta Percent.
      
       Example viewing Delta Volume, Invert set to False
       

       Example viewing Delta Volume, Invert set to Only Negative
       

       It should be noticed , where the grey arrow is pointing that there is negative delta
       volume on an upwave. When Invert is set to Only Negative and we have
       negative delta volume on an upwave, or positive delta volume on a downwave,
       those bars in the histogram will be painted grey to be able discern this. This
       color can be changed in "Opposite Volume Wave".

5. Market Hours - This only applies when viewing Time. Setting a time range for 
market hours will filter out calculating time when outside this range. This is very
convenient so that we dont see huge time waves outside normal or busy trading
times.

       Example. Market Hours set to 0, will not filter out time collection
       

       Example: Market Hours set to 0100-1500
       

6. Maximum Time. Also filters time. If time for a wave exceeds set amount in seconds, time
will stop calculating for that wave.

 

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).