Education | Technical Indicators | Candlesticks | Chart Patterns
Filtered Wave
Definition:
Filtered Wave automatically draws lines between the top and
bottom of a price movement that is at least 10%. This percentage can be changed in IQ Chart by
clicking “Utilities” >> “Parameters” and selecting “Filtered Wave” in the
resulting pop-up window.
Interpretation:
The Filtered Wave does not have any predictive value in it
of itself.However, it is useful in
studying the degree of retracements during major price movements and can be
used alongside other types of indicators (such as Elliot Wave analysis or
Fibonacci Retracements).
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