Every trader knows about gaps ... right?
Does every trader know the different types of gaps and how they might be used for identifying potential turning points, the start of new waves or to forecast the end of a move, long before price has got there?
Most traders will only see the gaps that happen when the Forex market opens after the weekend; or perhaps the odd gap that happens when there is a major news release. They miss some of the most important gaps because those gaps are filled quickly or are too small to seem relevant. Those seemingly-irrelevant gaps can provide incredible information about where price might be going next..
Gaps play an important role in my trading decisions, so I thought they deserved a new button in eWH: a feature that shows newly formed gaps and closed gaps. For anyone who admits to not really understanding how gaps can be used for trading decisions, I've added a new course module, in the trader training, that explains the different types and how they can be used; as well as how the new feature can be used in eWH test mode.
The eWH Beta upgrade is available for download; the video available for viewing (if you have access to the training course).
Mind the gap! You'll be glad you did.
MT5 has been available since 2010, long before eWaves v1.0 for MT4 was released. There are still many brokers who don't offer MT5 and, as such, I don't get many requests for any MT5 programs; in fact, I know few people who use, or have used, MT5.
I don't relish the thought of converting everything to MT5 but will have to get around to it over the coming years. For the moment though, I am more than happy to continue using MT4, so the sense of urgency to suffer the laborious coding conversion is somewhat absent.
To get the conversion ball rolling, I thought it would be a good idea to work on eWaves. I've done some limited testing and it appears to be doing all the things it should do. The Advanced Trade Manager and eWavesHarmonics will be very big jobs, so they are on the back-burner for a while.
You can get your copy of the new eWaves from the MT5 indicators page (the only thing there at present). I have been compelled to introduce some anti-piracy into it (because there are too many scallywags who love to share and steal indicators), which has meant I can't keep the price as low as the MT4 version - I apologise to all the good guys for that; the bad guys can sit in the naughty corner and feel guilty.
For a bit of fun, and as a little incentive for people to buy it, there is a hidden 'easter egg' - a feature that's not in the original eWaves but offers similar testing capabilities as found with eWavesHarmonics. The first person to discover this feature, and how to use it, will get a full refund on the cost of purchase.
This is a first release and, as with all programs, there might be the odd glitch or gremlin. Just drop me an email if you find any issues and I'll get on to it.