М & W Wave Patterns by Merrill - Part 2
Evolution and Mutation of Waves :
Evolution - change of the dynamic pattern, which still stays in the same wave family.
Evolution of M-Wave patterns :
Evolution of W-Wave patterns :
Mutation - change of the dynamic pattern, which then moves to another wave family.
Mutation of M-Wave patterns :
Mutation of W-Wave patterns :
NOTE :
Prediction algorithm considers that a mutation results in the youngest shape of the evolution, and the evolution/mutation counter is aware of the possible nonsequential mutation/evolution. For example, mutation in the middle and senior shape. This is achieved by selecting specific values in the bit-mask enum NamePattern (see MyCPattern.mqh). If you want to use the evolution/mutation counter - do not change enum NamePattern.
Indicator operation :
This indicator shows М & W Wave Patterns by Merrill and Support/Resistance levels on a chart. The indicator is recalculated on each new history bar (to save CPU time when rendering objects). The names of all objects are pseudo-random. The indicator calculates the predicted price movements based on the expectations of a private (serial) evolution/mutation of waves. the indicator includes a counter of pattern model efficiency.
Current version :
Test version 1.02:
Search engine, classic Zigzag;
Prediction model: level 0 (sequential evolution/mutation);
Model counter : level 0 (Algorithm : "I count only what I see, I don't know what was before...". Statistics is displayed after the 11th shape appears).
[*]
For the Organization of Trade with this indicator recommend the following :
1). Use only ORDER_STOP_LIMIT
2). For Buy-order use patterns: M1, M3, M5, M7, M9, M12, M14;
3). For Sell-order use patterns: W3, W5, W8, W10, W12, W14, W16;
4). Price for buy / sell = Point E;
5). Take profit = point Mutation;
6). Stop loss = point Evolution, if (point Evolution == 0) use fixed stop loss