Real Waves MTF can be found within the indicators section of the MQL5 marketplace. It was created by Mickail Reva and first uploaded to the marketplace on the 26th of January 2018. It received an update shortly after on the 30th of January 2018 and is currently at version 1.1.
Overview
Real Waves MTF is an indicator that can be used with the MetaTrader 4 platform, its main purpose is to show the real waves of four different timeframes on the currently active chart. It will monitor the formation of waves in real-time and will inform the trader when the waves are completely formed.
The algorithm that the indicator uses does not use ZigZags, it is mainly useful for those traders who apply wave analysis based on the Elliot wave theory. It can be used with any instrument or asset including currencies, stocks, gold, indices, and more without needing to make any adjustments.
There are also a few parameters available, these include the number of bars to use, working bars, timeframes to use, and whether to show the waves fro different timeframes.
Service Cost
The indicator can be purchased for $30, this is a one-off payment that will get you up to 10 activations of the indicator. There is not an option to rent it so the outright purchase is all that is available, there is a free demo version, the details are not made known so there is a chance that it can only be used with the strategy tester within the MT4 platform.
Conclusion
There are no reviews or comments available for the Real Waves MTF indicator, so we do not know whether it is functioning how it was described and intended. Due to this, we would suggest that you try out the free version, you should also send any questions that you have to the developer, this will allow you to make sure that it will do what you need it to and that the developer is still around to offer support should you decide to make a purchase.
This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/27459
