Multiple Moving Average Wave

The MA Wave, or Multiple Moving Average Wave indicator, includes the EMA(34) Wave as introduced by Raghee Horner in her book “Forex Trading for Maximum Profit”  published in 2007. Horner’s EMA(34) Wave was calculated using a EMA(High, 34), EMA(Close, 34) and a EMA(Low, 34).The advantages of applying a Moving Average Wave was discussed in our Indicator Spotlight post (with video) here.

Moving Average Wave

Indicator Description

With this version of the Moving Average Wave indicator, one may select from 30 different moving averages. As with the original indicator presented by Horner, you will find the default set to use the EMA. However, this EMA Wave calculates using EMA(High, 34), EMA(Median, 34) and the EMA(Low, 34).

Furthermore, one may customize the Wave bands using the indicators multiplier function. The default value of 1 creates the EMA Wave using the High and Lows of the specified lookback period.

Other Indicator Library Indicators

Other Multiple Series Indicators include the Multiple Bollinger Bands, the Fibonacci Bands, the Multiple MACD, the Multiple TSI and the Multiple Keltner Channels indicators.

The indicator is best used in combination with one of our Advanced Oscillators or standard Momentum Oscillators. Our indicator library contains among others the Acceleration Deceleration, Fast Stochastics, LBR 3/10 Oscillator, Know Sure Thing, the Double Smoothed Momentum Index, the Projection Oscillator, the Stochastics Momentum Index or the a new and improved version of the standard RSI. Finally, with the Z Score indicator from our statistical analysis category, you may normalize any oscillator.

Also, a variety of Support / Resistance indicators are available from the Session Tools and Fibonacci indicators categories, including the Current Day Fibonacci Levels / Prior Day Fibonacci LevelsCurrent Week Fibonacci Levels / Prior Week Fibonacci Levels, the Current Month Fibonacci Levels / Prior Month Fibonacci Levels and the Current N Month Fibonacci Levels / Prior N Month Fibonacci Levels. An Indicator Spotlight also looked into the methodology used for determining Fibonacci Retracement Levels. The Opening Range high / low and expansion levels may also serve as support / resistance. 

The Force Index (volume analysis) can be used to further validate reversal setups. Finally, managing open profits can be done by using the Chande Kroll Stop, the Chandelier Stop or the Deviation Stop from our trailing stop loss category.

The EMA Wave indicator is available for NinjaTrader 8.

Multiple Moving Average Wave