Wolfe Waves
$99.00
Buy for MetaTrader 4
Instant Download

- or go to MQL5 App Store -

For MetaTrader 4 For MetaTrader 5
WOLFE WAVES INDICATOR FOR METATRADER

Catch market reversals early with automatic wolfe wave detection

Wolfe Waves are one of the most reliable and time-tested reversal patterns in technical analysis—yet they’re notoriously difficult to spot in real time. This advanced indicator does the heavy lifting for you, detecting Wolfe Waves with high accuracy across any timeframe and providing immediate breakout signals as soon as the pattern completes. Designed to prevent repainting and backpainting, it gives you clean, actionable setups supported by performance metrics and real-time alerts, helping you enter high-probability trades with confidence.

  • Automatically detects valid Wolfe Wave patterns based on strict structural criteria
  • Identifies breakout points and displays clear trade entries with optional SL/TP levels
  • Provides real-time alerts via email, sound, visual or push notification
  • Non-backpainting and near non-repainting for signal integrity
  • Works across all timeframes and financial instruments
  • Customize amplitude and sensitivity to find both large and small patterns
  • Visual stats dashboard displays pattern success metrics and trade outcomes
  • Perfect for reversal traders looking for structure-backed setups
  Watch Video   FAQ

Screenshots

Description

Wolfe Waves are naturally forming patterns that appear in all financial markets. They represent the market's attempt to return to a fair or balanced price. These patterns can appear in both short-term and long-term timeframes and are known as one of the most reliable reversal patterns. They often come before strong and lasting price moves.

  • Provides clear and easy-to-understand trading signals
  • Very simple to use
  • Fully customizable colors and line sizes
  • Shows performance statistics for trade evaluation
  • Displays suggested stop-loss and take-profit levels
  • Sends alerts by email, sound, push notification, or on-screen

How It Works

The indicator draws the Wolfe Wave pattern and the breakout arrow at the same time to avoid repainting as the pattern grows. However, in rare cases, if the breakout entry happens repeatedly, the indicator may slightly redraw the pattern. It never backpaints (it does not show signals in the past that didn’t exist at the time).

Definition of a Wolfe Wave

To qualify as a Wolfe Wave, the pattern must meet these conditions:

  • Wave 3 to Wave 4 must stay inside the channel made by Waves 1 and 2
  • Wave 4 must be within the channel created by Waves 1 and 2
  •  Wave 5 must break outside the trendline created by Waves 1 and 3

Input Parameters

  • Amplitude – Sets the minimum number of bars between price points. Increase to find larger patterns. Decrease to find smaller ones. You can load the indicator multiple times to detect patterns of different sizes.
  • Breakout Period – Sets the Donchian breakout period to confirm Wolfe Wave breakouts. Set to zero if you don't want to use this filter.
  • Max History Bars – The number of past bars to analyze when the indicator loads.
  • Display Stats – Show or hide the dashboard with performance and statistics.
  • Display SL/TP Levels – Show or hide suggested stop-loss and take-profit levels.
  • Display Price Labels – Show or hide labels for the pattern points on the chart.
  • Drawing Options – Customize the colors and line thickness for bullish and bearish waves, and set font sizes.
  • Breakouts – Choose the color and size of breakout arrows.
  • Alerts – Turn alerts on or off for new patterns or breakouts.

Related Indicators & Bots

Harmonacci Patterns
Harmonacci Patterns

Discover 19 harmonic patterns with precise projections, stop-loss and take-profit levels, and reliable breakout signals for smarter trading.

MT4 MT5 $149.00
ABCD Retracement
ABCD Retracement

Spot powerful price moves with ease: this tool finds AB=CD patterns and waits for confirmation before signaling trades, helping you enter and exit with confidence.

MT4 MT5 $75.00
Penta-O
Penta-O

Catch rare but powerful setups: this tool detects five-o patterns and confirms them with breakout signals for more reliable trades.

MT4 MT5 FREE
Three Drives
Three Drives

Spot market exhaustions: this tool detects multi-leg reversal setups and confirms them with breakout signals, helping you catch turning points early.

MT4 MT5 FREE
Explore all premium indicators & bots →

Frequently Asked Questions

The indicator is designed to minimize repainting by drawing the Wolfe Wave pattern and breakout arrow simultaneously. In rare cases, if the price repeatedly tests the breakout level and causes the pattern to expand, the structure may be redrawn slightly. However, such repainting is minimal and does not significantly affect the integrity of past signals.

No, it does not. All patterns are plotted only once the conditions are met in real-time. The indicator does not retrospectively display signals that were not present at the time, ensuring full transparency and accuracy.

No. The pattern and breakout arrow are displayed at the same time to confirm the structure’s validity. This approach ensures that only actionable setups are shown, avoiding premature or speculative signals.

Wolfe Waves are high-quality but relatively rare setups. To increase signal frequency, you can load multiple instances of the indicator on the same chart using different amplitude values (e.g., 6, 12, 18, 24). This allows you to detect both small and large Wolfe Waves that may otherwise go unnoticed.

Yes, the indicator works well on all timeframes. Higher timeframes (H4, D1, W1) may provide more reliable and longer-lasting patterns, while lower timeframes can yield more frequent but shorter-term opportunities.

Yes. It supports visual, sound, email, and push notifications for every detected Wolfe Wave breakout, so you’ll never miss a setup.

Absolutely. While Wolfe Waves are an advanced chart pattern, this indicator automates the detection process and provides entry points, making it accessible even to traders who are new to this strategy.

Yes. You can fully customize line colors, arrow sizes, font sizes, and label visibility to match your charting preferences.

Yes. Once a pattern is confirmed, the indicator displays suitable SL and TP levels based on the geometry of the Wolfe Wave, aiding in consistent trade management.

Yes. Many traders combine Wolfe Waves with trend indicators, oscillators, or support/resistance tools to confirm trades or filter signals.