The Wolfe Wave Finder indicator for Metatrader 4 finds and displays the popular Wolfe Wave price action pattern on the Forex chart.
It’s a chart pattern composed of five wave patterns that can indicate bullish or bearish trends for the underlying currency pair.
The indicator identifies the Wolfe Wave pattern on any time frame of your preference, but tends to be more reliable when used on the higher time frames.
Key Features
- Finds Wolfe Wave patterns
- For advanced traders
- Works better on the higher time frames
- Well worth adding to your indicator collection
Free Download
Download the “Wolf Wave Finder.mq4” MT4 indicator
Trading Chart
The EUR/GBP 1-hour chart below shows the Wolfe Wave Finder indicator in action.
Basic Trading Signals
BUY:
- Go long when the Wolfe Wave pattern is bullish.
- Set stop loss below the trading pattern.
- Exit the buy trade for a predetermined profit target or use a risk-to-reward ratio of 1.5 or better.
SELL:
- Go short when the Wolfe Wave pattern is bearish.
- Set stop loss above the trading pattern.
- Exit the short trade for a predetermined profit target or use a risk-to-reward ratio of 1.5 or better.
Download Now
Download the “Wolf Wave Finder.mq4” MT4 indicator
Wolfe Wave Finder + Forex Trend Sniper Dominator Strategy
This trading strategy combines the strength of the Wolfe Wave Finder Indicator with the trend confirmation from the Forex Trend Sniper Dominator System.
The Wolfe Wave identifies potential price reversals, while the Sniper Dominator confirms trend direction, improving trade accuracy and reducing false signals.
Strategy Overview
- Indicators Used: Wolfe Wave Finder, Forex Trend Sniper Dominator
- Timeframes: 15-minute (M15), 30-minute (M30), or 1-hour (H1)
- Pairs: Major Forex pairs (EUR/USD, GBP/USD, USD/JPY, etc.)
- Style: Reversal-based entries aligned with trend direction
Buy Setup
- The Wolfe Wave Finder plots a bullish Wolfe Wave pattern on the chart (points 1 to 5 complete, with entry near point 5).
- The Forex Trend Sniper Dominator confirms an uptrend (e.g., blue or green confirmation bar).
- Enter a buy trade at the close of the candle once both conditions are met.
Sell Setup
- The Wolfe Wave Finder plots a bearish Wolfe Wave pattern (entry near point 5 for downward projection).
- The Forex Trend Sniper Dominator confirms a downtrend (e.g., red confirmation bar).
- Enter a sell trade at the close of the candle after both indicators agree.
Trade Management
- Stop Loss: Below the recent swing low (buy) or above the swing high (sell).
- Take Profit: Use the Wolfe Wave EPA (Estimated Price at Arrival) as the target, or aim for a 1:2 risk-reward ratio.
- Risk Management: Never risk more than 1–2% of your capital on any single trade.
Why This Strategy Works Great
The Wolfe Wave Finder is excellent at detecting high-probability reversal zones based on geometric wave formations.
However, reversal trades are most effective when they align with confirmed directional bias.
By combining Wolfe Wave entries with the trend confirmation from the Forex Trend Sniper Dominator, this strategy filters out low-probability setups and focuses on trades with clear directional context.
Adjustable Parameters & Settings
Depth, deviation, back step, colors, style
More Info About This Tool
Currency Pairs: works on any currency pair
Trading Platform: developed for Metatrader 4 (MT4)
Time Frames: any
Indicator Type: Price action
How do you install the Wolfe Wave Finder indicator in Metatrader 4?
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- Copy and paste the Wolf Wave Finder.mq4 indicator into the MQL4 indicators folder.
- You can access this folder from the top menu as follows:
- File > Open Data Folder > MQL4 > Indicators (paste here)
