Advanced Weis Wave Volume [Afnan]

Advanced Weis Wave Volume is an enhanced upgrade of the classic Weis Wave concept. It measures accumulated volume within price swings to show where buying and selling pressure truly shift — but with one major edge: optional consolidation detection.
Most wave volume indicators simply plot bullish and bearish waves. Advanced Weis Wave Volume goes further by giving you the choice to highlight sideways or low-momentum consolidation phases, making it easy to spot when the market lacks real momentum. This helps traders instantly filter out weak, low-probability setups and focus only on the high-energy waves that truly matter.

⚙️ Key Features

• Weis Wave Method – Uses ATR-based wave calculation to identify directional volume accumulation with precision.
  
• Optional Consolidation Highlighting – You control it. Enable or disable consolidation detection based on your trading style. When enabled, it visually marks low-momentum or range-bound conditions, helping you instantly recognize when the market is consolidating.
  
• Smart Volume Alignment – Choose to include or exclude the reversal candle's volume in new waves for more accurate readings.
  
• Clear Visuals – Color-coded waves for Bullish (Green), Bearish (Red), and optional Consolidation (Orange) phases.
  
• Compact Status Table – Displays the current market condition (Bullish, Bearish, or Consolidation) directly on your chart.
  
• Flexible Display Options – Plot all waves above zero line, customize colors, and control what information you see.
  

💡 Why This Indicator Is Superior
✅ vs. Other Wave Volume Indicators:
Others only show waves; they can't identify consolidation. Advanced Weis Wave Volume gives you the option to enable consolidation detection — saving you time by automatically filtering weak market phases when you need it.
✅ vs. Standard Volume Bars:
Regular volume bars show isolated candle data. Advanced Weis Wave Volume shows accumulated directional pressure, revealing true trend strength and institutional activity.
✅ vs. Basic Weis Wave Indicators:
Standard Weis Wave indicators lack consolidation awareness. This indicator adds that layer of intelligence while keeping the classic wave calculation intact.
Bottom Line:
This is the only Weis Wave volume indicator that gives you control over consolidation filtering. Others show every move equally — Advanced Weis Wave Volume shows what actually matters, when you want it to.

📈 How to Use
Trading with the Waves:
🟢 Green Waves (Bullish): Building buying pressure — look for long setups.
🔴 Red Waves (Bearish): Rising selling pressure
🟠 Orange Zones (Consolidation): (When enabled) Market is ranging — avoid new trades .

• Large waves: Strong trends and high-probability continuations.
  
• Shrinking waves: Weakening momentum or possible reversal ahead.
  

Critical Insight - Avoiding False Volume Signals:
Large waves aren't always reliable. If you see a wave colored in orange (consolidation), it means the market was moving sideways but no real directional momentum.
This is crucial because:
❌ A big green wave in consolidation ≠ strong upside buying
❌ A big red wave in consolidation ≠ strong downside selling
✅ These are just range-bound volume accumulations that mislead traders

With consolidation detection enabled, you can instantly identify and ignore these deceptive Consolidation waves, focusing only on directional volume that actually reflects true buying or selling pressure. This prevents you from entering trades based on false volume signals during sideways markets.

📌 Practical Applications:

• Breakout Confirmation: Real breakouts show expanding volume waves; false breakouts show weak waves or consolidation-marked volume.
  
• Trend Validation: In a healthy trend, waves in the direction of the move are stronger, larger, and show clear directional color (green/red).
  
• Consolidation Avoidance: (When enabled) Orange zones warn you to step aside and preserve capital — even if the wave looks large. Size doesn't matter if momentum is absent.
  
• Filter False Volume: Avoid trading large waves that occur during consolidation — they don't represent genuine directional moves, just sideways accumulation.
  
• Divergence Detection: Price makes new highs/lows, but wave volume shrinks — a sign of exhaustion or reversal.
  
• Analyzing Ranges: During accumulation or distribution, Advanced Weis Wave Volume helps identify how institutional players are participating within the range — revealing when a breakout is likely to occur.
  

✨ The Competitive Advantage
Many Weis Wave indicators exist on TradingView - they all show volume waves. Only Advanced Weis Wave Volume gives you optional consolidation detection. That single feature transforms wave volume from a pure analysis tool into a flexible trading system that adapts to your style.