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.
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. After installation, please restart NinjaTrader to complete the setup.
Helpful Information on Using the AiWave Indicator
Forecast:
Dashed Line & Dot:
A dashed line ending with a dot indicates the forecasted location of the current reversal. This dot marks the most likely turning point based on the learned historical patterns.
Uncertainty Area:
Surrounding the dot, an elliptical shaded area illustrates the uncertainty range. A larger ellipse means higher uncertainty; a smaller ellipse indicates higher confidence.
Diamond Marker:
If a reversal is expected to occur but has not been validated, AiWave will forecast the next likely reversal with a diamond symbol at the projected location.
Color Change as Warning:
When a forecasted turning point is imminent, the dot and ellipse will turn red. A red outline will then appear around them to emphasize urgency, signaling that a reversal is likely to occur soon.
Persistence of Forecasts:
A forecast remains active on the chart until the market validates or invalidates it. This gives traders a visual reference to gauge how market behavior aligns with the AI's predictions.
Accuracy
In general, an accuracy below 75% suggests a significant level of uncertainty in the forecast.
Understanding Presets:
To learn more about a specific preset, hover your mouse pointer over its name. The text in parentheses shows the default value and related settings. These default values are optimized to work well with most instruments.
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 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.
To cancel subscription, in My account - Orders scroll the list of Recurring payments to the right and click Cancel payment.
