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The Weis Wave Plugin

The Weis Wave Plugin stands head and shoulders above anything currently available to the

trading community. I have been trading for 25 years and have used the Weis Wave for the

past three. With its unique wave volume, the Weis Wave helps traders recognize turning

points. —Alfred T., Austria

I have to tell you that your Weis Wave has been EXTREMELY useful!

I’ve been trading for a living for over 15 years now… this tool you have provided has made

things much clearer to me. —T.K.

The Weis Wave Plugin is the end product of 30 years work to find the most accurate portrayal of volume.
The insights gained from this plugin are a great help in anticipating trend changes of varying degree.

Anyone who has watched intraday price movement knows it unfolds in a series of buying and selling
waves—a process of building up and tearing down. Prices do not unfold in bundles of equal time. When
the natural movement of prices is bound by time, the trend still remains visible. Volume, however, does
not fare so well. Subdividing volume into time periods obscures the true force of the buying and selling.
The Weis Wave Plugin creates wave charts along with their corresponding wave volume.

Wave charts were first created by

Richard D. Wyckoff

. In his famous course on stock market technique,

he instructed students to “think in waves.” Wave analysis was an integral part of his trading method. The
Weis Wave is an adaptation of Wyckoff’s method that handles today’s volatile markets. It works in all
time periods and can be applied to the futures, forex, stock, and commodity markets. You will be amazed
at how well the Weis Wave identifies turning points. Many of these same turning points are not obvious
on conventional bar charts. Take a look at the daily stock chart of AEM:

Weis Wave Plugin: A Modern Adaptation of the Wyckoff Wave & Volume

http://weisonwyckoff.com/weis-wave/

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Moving from left to right, the first arrow refers to a two day up-wave that ends on July 18. The cumulative
volume equals 2.5 million shares. It stands out as a low volume test of the previous up-wave. On the
sell-off from this high, the wave volume exceeds all preceding volumes either up or down. Notice the daily
volumes do not show such a change in behavior. The third arrow points to a minute, one-day rally with
wave volume of 1.75 million shares, the lowest since June 27. It shouts out NO DEMAND. Prices fall
about $9 in the next three days and the fourth arrow points to the climactic action.

Notice the next up-wave. It is propelled by the heaviest up-wave volume to date. Here, for the first time,
demand appears. This message does not stand out with such clarity on the volume histogram. The last
arrow points to the August 4 low made on a one-day decline. Daily volume and wave volume are the
same. Yet in the context of the preceding down-waves, the wave volume is very low. Of the three
highlighted down-waves, it has the smallest volume and says supply is spent.

Many of the trades made with the Weis Wave involve pullbacks. For example, when price falls on heavy
volume, this is a bearish change in behavior. If the wave volume on the next pullback diminishes sharply,
a short trade is established with a close protective stop. This is the case on the September S&P chart
where price falls on 110k volume shortly after 13:00. This is the heaviest volume in several hours. The
relatively weak volume on the pullback reflects lack of demand. A great short trade unfolded from this
high. The five-minute volume reveals none of this information. After the decline below 1100 around
14:45, the next up-wave draws out 229k contracts, an overtly bullish change in behavior. On the next
pullback, volume shrinks to 63k, a sign the selling pressure has dried up. The rally from this low hit 1170
on the close!

Weis Wave Plugin: A Modern Adaptation of the Wyckoff Wave & Volume

http://weisonwyckoff.com/weis-wave/

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Weis Wave works equally well on

Forex

charts. The setup on the Euro 5-minute chart is classic. It begins

with heavy selling on the decline to the 9:50 a.m. low. After a failed attempt to renew the uptrend, the
Euro falls on even larger volume. This is the bearish change in behavior. It is followed by two small, low
volume up-waves that can be used to establish short positions. The combination of a bullish or bearish
change in behavior followed by a low-volume pullback produces a multitude of trades. Suddenly, you can
trade like a counter-puncher.

Weis Wave Plugin: A Modern Adaptation of the Wyckoff Wave & Volume

http://weisonwyckoff.com/weis-wave/

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S&P Chart

Weis Wave Plugin: A Modern Adaptation of the Wyckoff Wave & Volume

http://weisonwyckoff.com/weis-wave/

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2013-11-05 17:28

The intraday volatility in the E-S&P makes it a favorite among day traders. Some of the best wave volume
setups appear in this contract. Wednesday, July 13 created a number of such trading opportunities. On the
5-minute bar chart of the September ‘11 contract, a .75-point wave is included. In the middle of the chart,
I have copied Wyckoff’s statement on how to recognize intraday changes in trend. They are central to
reading the wave chart and volume. Within the uptrend on the left-hand side of the chart, you can readily
see how the wave lengths and wave volumes diminish as prices move higher. At the top of the third
upwave—where the thrust shortens, the wave length decreases in size and the wave volume drops—short
positions should have been established. The first downwave from this high draws out massive supply—the
heaviest of the day. On the subsequent two rallies, demand evaporated thus offering additional entry
points for new shorts. The second of these two upwaves consists of only one 5-minute bar. Without the
bearish picture of the wave volume, the strong close on that bar might have caused some traders to close
out short positions. Because the waves filter price data, they are not as ephemeral as the price bars.
Supply is dominant throughout the rest of the session.

Caterpillar Chart

Weis Wave Plugin: A Modern Adaptation of the Wyckoff Wave & Volume

http://weisonwyckoff.com/weis-wave/

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On the daily CAT chart, the wave volume shows how the selling gradually slackens as prices decline to
the June low. The bar chart shows the shortening of the downward thrust near the bottom of the price
channel. Below the price chart you first see the cumulative wave volume and then the actual, daily
volume.

In the week of June 20, the actual volumes all look the same. They look like the tree line on the horizon, a
phenomenon typical of many stock charts. The wave volume gives a truer picture of the reduced selling
pressure at the low. Notice the leap in wave volume on the first upwave off the low. It reflects aggressive
demand and leads to a nice 10% profit.

Because the daily prices are visible, the chart reader can combine the message of the wave volume with
the length of the bars and the position of the close—a powerful combination.

The Weis Wave Plugin is compatible with

TradeStation®

,

NinjaTrader®

,

MultiCharts®

and

MetaStock®

platforms; the Weis Wave plugin for MetaStock® now works on both 32-bit and 64-bit computers.

•

CLICK TO LEARN ABOUT PRICING AND HOW TO PURCHASE

Weis Wave Webinar

Buyers of the Weis Wave Plugin will be given access to a two-hour webinar given by David Weis on

Weis Wave Plugin: A Modern Adaptation of the Wyckoff Wave & Volume

http://weisonwyckoff.com/weis-wave/

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August 17, 2011 and hosted by Dr. Gary Dayton, Trading Psychology Edge.

This instructive webinar offers the most comprehensive explanation of the Weis Wave to date. It shows
how the Weis Wave evolved over several years. Starting from the tape reading charts developed by
Richard Wyckoff which dealt with every price change, I devised filters to accommodate today’s more
volatile markets. A few examples are provided of my handmade charts where I substituted time and true
range for volume. Numerous chart examples are explained, demonstrating the most important trade
setups. You can also get a copy of this webinar without a plugin purchase.

•

CLICK TO LEARN ABOUT PRICING AND HOW TO PURCHASE

NOTICE: The Weis Wave indicator does not provide automatic buy & sell signals. Trading with the
Weis Wave is interpretive. The arrows placed on the charts shown here pinpoint areas discussed in
the text. They are not part of the software. Any prospective buyer who wants further information on
this product should use our

contact form

and questions will be answered.

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"Hands down, David’s Wave Chart is the most valuable trading tool I know."
— Dr.Gary Dayton, Trading Psychology Edge

"Your Weis Wave is truly amazing. If there is a secret weapon in the markets I think this is as good as it
can get!"

— Chris G., Australia

Copyright © David H. Weis, 2011. All Rights Reserved.

Any information contained on this website is provided for educational purposes only and should not in any
way be construed as investment advice.

Weis Wave Plugin: A Modern Adaptation of the Wyckoff Wave & Volume

http://weisonwyckoff.com/weis-wave/

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