AiWave is a cutting-edge Artificial Intelligence (AI) indicator that uses AI machine learning technology to forecast market reversals. By analyzing historical data, it effectively determines the expected location of a current reversal and the subsequent most likely point of the next reversal. This information is visually conveyed via a dot at the end of a dashed line representing the current reversal location, accompanied by an elliptical area that signifies the associated uncertainty. When the likelihood of a reversal is identified, the indicator will show a forecast of the next most likely location of a reversal with a diamond marker at the end. A dot will continue to forecast the expected turning point that has not yet been established. The dot and uncertainty area will turn red and then will be surrounded by a red outline to indicate the imminence of a reversal.
AiWave runs on the NinjaTrader platform and does not require any special hardware. It needs to be trained on each individual instrument, and its accuracy depends on the amount of available data. Typically, intraday data yields better results as it can provide more data. To optimize forecast accuracy, AiWave offers a range of AI training parameters for fine-tuning the indicator.
AiWave is a highly advanced tool for traders seeking to elevate their market analysis capabilities. By harnessing the power of artificial intelligence and machine learning, it empowers traders with valuable insights into market reversals. Allowing them to make more informed decisions, potentially leading to enhanced trading outcomes.
Helpful Information on Using the AiWave Indicator
Understanding Presets:
To learn more about a specific preset, hover your mouse pointer over its name. The information in parentheses displays the default value and relevant settings.
Indicator Name Breakdown:
In the upper-left corner of the chart, the indicator name provides key details. For example AiWave (XYZ(10000:100 Tick),6,0):
Accuracy Display:
In the upper-right corner of the chart, the Accuracy of AiWave's price forecasts is displayed for the period set by the Accuracy parameter:
Adjusting Period:
Modify the Period to change the wave period and the forecast range.
Suggested values are 3, 6 and 9. Higher values would increase forecast range but with lower forecast accuracy.
Adjust chart Properties (Ctrl+T) Right side margin to at least 150 to see forward forecasts.
Improving Forecast Performance:
Training a model on more data may enhance forecast accuracy by providing more examples for learning. In case of daily charts that may not have enough data, it may be helpful to switch to 15 or 30 minute bars to get more data.
Adjust Period and check forecast accuracy.
Adjust Data Series (Ctrl+F) bar time value and check forecast accuracy.
For AI parameter tuning consult LightGBM documentation.
Comparing Models:
To compare indicators trained with different parameters, set a unique model Version number for each and observe changes in the average Accuracy.
Using Multiple AiWave Indicators:
Two or more AiWave indicators can be applied simultaneously (e.g., for forecasting both long and short periods). To avoid conflicting Accuracy displays, do the following for additional indicators:
Enhancing Legibility:
Customize the Plots/AiWave Color and Width settings to improve the indicator’s visibility.
API Support:
AiWave supports API for creation of custom indicators and strategies.
How to install...
During the initial activation, you may be prompted to install the Microsoft Redistributable C++ library, which is required for the indicator to function properly.
To cancel subscription, in My account - Orders scroll Recurring payments to the right and click Cancel payment.
