The Weis Wave 3c forex indicator for Metatrader 4 is working in buy and sell waves and connects the high and low waves.
Green histogram bars represent a high wave (price is trending up).
Red histogram bars represent a low wave (price is trending down).
Histogram bars are drawn in a separate Metatrader 4 window below the main activity chart.
Combine this wave indicator with other technical indicators for more accurate trend predictions.
Free Download
Download the “WeisWave3c.ex4” MT4 indicator
Indicator Chart (EUR/USD H4)
The EUR/USD H4 chart below displays the Weis Wave 3c Metatrader 4 forex indicator in action.
Basic Trading Signals
Signals from the Weis Wave 3c MT4 forex indicator are easy to interpret and go as follows:
Buy Signal: Open a buy trade when the first green Weis Wave 3c histogram bar appears below the main activity chart.
Place a stop loss below the previous Weis Wave 3c low support.
Sell Signal: Open a sell trade when the first red Weis Wave 3c histogram bar appears below the main activity chart.
Place a stop loss above the previous Weis Wave 3c low resistance.
Weis Wave 3C and Simpler Trend Forex Scalping Strategy
This strategy uses the Weis Wave 3C MT4 Indicator together with the Simpler Trend MT4 Indicator.
The Weis Wave 3C indicator displays a volume-wave histogram: green bars signal buying waves, red bars signal selling waves.
The Simpler Trend indicator colors price candles: green candlesticks for a bullish trend and red candlesticks for a bearish trend.
This scalping strategy is intended for fast time frames, ideally M1 and M5, where short-term trends and volume waves offer meaningful insight.
By combining volume-wave strength with a simple trend filter, you can catch short, high-probability moves while avoiding weaker, less reliable trades.
Buy Entry Rules
- The Simpler Trend indicator must show green candlesticks, confirming bullish trend direction.
- The Weis Wave 3C histogram must print a green bar, indicating a buying wave.
- Enter long at the close of the candle on which these two conditions align.
- Set a stop loss just below the most recent swing low or below the low of the wave before entry.
- Take profit when the Weis Wave 3C histogram turns red, signaling a selling wave, or trail your stop as the price moves in your favor.
Sell Entry Rules
- The Simpler Trend indicator must show red candlesticks, confirming bearish trend direction.
- The Weis Wave 3C histogram must print a red bar, indicating a selling wave.
- Enter short at the close of the candle on which both conditions align.
- Set a stop loss just above the most recent swing high or above the high of the wave preceding entry.
- Take profit when the Weis Wave 3C histogram turns green, signaling a buying wave, or trail your stop.
Advantages
- Combines volume-wave strength and trend direction for more reliable entries.
- Visual simplicity, green and red bars and candles make setup confirmation fast.
- Scalping on M1 and M5 allows for frequent opportunities with tight risk control.
- Dynamic exit options, exit on wave reversal or trail your stop depending on market behavior.
- Helps avoid trades when volume momentum is weak or trend direction is unclear.
Drawbacks
- In very noisy or low-volume conditions, wave bars may flicker and give false signals.
- Quick, sharp reversals may invalidate waves rapidly, and stops must be tight but balanced.
- On M1 especially, signals can come and go so fast that execution must be very precise.
- Not ideal when volume is extremely low, like during off-peak hours, because wave readings may be unreliable.
- Wave indicators like Weis Wave interpret cumulative volume, which may lag slightly compared to pure price action.
- Requires good trade management discipline to trail stops without giving back too much profit.
Case Study 1
On EURUSD M5 during the London-New York overlap, the Simpler Trend candles turned green, confirming a short-term uptrend.
The Weis Wave 3C histogram printed a green bar at nearly the same time, showing buying wave strength.
A long trade was entered, and the stop loss was placed just below the swing low.
As the price moved higher, a red Weis Wave bar appeared, signaling a possible wave reversal.
The trade was closed at that point, capturing a small but clean scalp move.
Case Study 2
On USDJPY M1 in a fast-moving session, the Simpler Trend indicator showed red candles, and the Weis Wave 3C printed a red bar.
These aligned as the price was pulling back after a small rally.
A short position was taken, with a stop loss set just above the recent swing high.
Price dropped quickly, and when the Weis Wave histogram turned green again, the trade was closed, locking in a quick profit.
Strategy Tips
- Use limit or market orders carefully; volume-based entries sometimes come abruptly, so be ready.
- Consider using a small trailing stop once your trade is in profit to capture more of the wave move.
- Avoid trading when the Weis Wave bars are flat or very small, as this indicates weak volume momentum.
- Keep a strict risk-per-trade limit because scalping on M1 and M5 can lead to frequent trades.
- Use a demo account to test how the indicators behave on different currency pairs to find which pairs generate the best wave momentum and trend alignment.
Download Now
Download the “WeisWave3c.ex4” Metatrader 4 indicator
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: chart window indicator
Customization options: Variable (difference, wave) Width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, Daily, Weekly, Monthly
Type: signals
