Technical Indicators for MetaTrader 5

Here you will find many programs for the MetaTrader 5 trading platform, which save the trader from routine operations and help him concentrate only on the really important things

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MetaTrader 5

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Weis Wave with Alert MT5

499.00 USD354.29 USD

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MetaTrader 5
Panagiotis Diamantopoulos



Plutus Long and Short trading signals added (for more info visit 

Different Wave Types,  choose what your cumulative Histogram diplays: Volume, Pips, Progressive Volume Rate, Time or Emphasized Volume Waves 

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Weis Wave with Alert MT5

This is a Weis Wave indicator which is based on Richard D. Wyckoff theory. It works in all time periods, range bar and tick bar charts and it can be applied to any market.

This indicator is an evolution of Weis Wave because it offers the autowaves feature, different wave types as well as the powerfull Speed Index.  Each price wave is moving in a specific direction up or down until it reverses. In order for the indicator wave to reverse in the opposite direction, the price should exceed the number of points (pip*10) set in the parameters. Therefore, the last wave repaints but the theory behind this trading method is forecasting where the market will go by reading  the previous waves.

Trading Strategies:

Setup Parameters

  • Indicator Number: Multiple Indicators can be added on the same chart. Valid values "0 to 9" and "a-z"
  • Show Orders: display or not your orders
  • Load all Bars: true/false, if false Number of bars back will be loaded
  • Number of bars back: numbers of bars that the indicator will load
  • Wave Direction Change difference in Points: Number of points required for the current wave to reverse and form a new wave
  • AutoDifference: true/false - Neglects the Wave Direction difference  and adjusts the Difference automatically creating more accurate waves.
  • AutoSensitivity: The higher the number the higher the sensitivity and therefore more waves are formed.
  • Volumetype= true=Tick Volume, false=Real Volume
  • Weighted Volume: true/false - Weights volume of  different sessions taking into consideration that when London and US are operating at same time have the highest volume of all sessions occurs and adjusts the rest of the sessions. With this parameter it very easy visualize which volumes are significant even on Asian hours or non-significant on London-US hrs.
  • Net Volume: 0-Disabled, 1-Price Close, 2 Price Median
  • Wave Type: 0-Regular Volume, 1-Pips, 2-Progressive Volume Rate, 3-Time,4 Emphasized Volume Waves

Speed Index Display and Alert Parameters

  • SI Display: Show or not speed index on the chart 0-No Display, 1 Speed Index only, 2 Volume and Speed Index
  • Show Plutus Patterns or Not
  • Alert on Plutus Patterns:Popup, Sound, Email,
  • SpeedAlert: There are two ways that you can be notified for Extreme Speed Index numbers the Automatic and the Manual, please refer to the manual for explanations.
    • Alerts :Popup, Sound, Email, Push

Format Wave and Label

  • ShowLabels: Display or not the wave type the pips and the number of bars of each wave
  • What to Display:1-Volume,2-Pips, 3-Bars, 4-All, 5-Volume and Pips
  • ShowWaveLine: Draw the wave line or not on the price chart
  • Format: LabelShift, Font size, Color Up, Color Dn, wave color, wave width

Volume Alert

The information displayed by the alert function are: the pair, the period, a message “Hign Dn Volume” or “High Up Volume” and the time.

  • Volume Alert Above this limit: The value of cumulative volume that will be triggered if the alert is exceeded
  • Alerts:Popup, Sound, Email, Push

Format Numbers for better display parameters

  • VolDivBy: Volume divider in order to avoid big numbers on the display
  • PipDivBy: Pip distance  divider in order to avoid big numbers on the display
  • SI Miltiplier: Speed Index Multiplier for better display
  • Reverse Style: inverts wave style


If for any reason you do not like the purchased program, you can request a refund within 30 days from the date of purchase. You can also make an exchange for any other product at an equal cost or by paying the difference.

Simply send a request for refund or exchange with your order number by email:

Refund requests received more than 30 days after purchase will be rejected.

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RISK WARNING: is a software reseller, we do not offer investment advice or execute trades. The software we provide is a tool where the settings are input by the end user to design their own trading strategy. Trading forex and CFDs carry a high degree of risk to your capital and it is possible to lose your entire deposit. Only speculate with money you can afford to lose. As with any trading, you should not engage in it unless you understand the nature of the transaction you are entering, and the true extent of your exposure to the risk of loss. These products may not be suitable for all investors, therefore if you do not fully understand the risks involved, please seek independent advice.