Technical Indicators for MetaTrader 5
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MetaTrader 5
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Overview
PTI is an index developed by Tom Joseph, which compares the points of Purchase/Third Wave Sales with a Buying Momentum/Sales of The Fourth Wave. This comparison will then be transferred to an algorithm that calculates the VALUE of the PTI INDEX. You can learn more about this index by reading his book Simplified Wave Analysis.
This indicator is an example of my understanding of this index.
This index should be used as follows:
1) You need to click on the "Start Calculation" chart
2) Make the first click in the place where the second wave ended
3) The next mouse click should occur at the top (at the end) of the third wave
4) The last click should be at the end of the fourth wave
After that, the PTI value will be displayed next to the button.
If this value is more than 35, then the 5th wave is likely to form.
