BW2 Wise Man Indicator for MetaTrader 4 - Free Download [TFlab]

The BW2 Wise Man Indicator is a technical analysis tool based on Bill Williams' Chaos Theory, designed to identify precise entry points in markets such as Forex and Cryptocurrency.

This indicator is a composite system made up of three well-known trading tools that generate signals as colored dots near candlesticks as follows:

• Red dot below the candle: Buy entry signal;
• The yellow dot above the candle: Sell entry signal.

BW2 Wise Man Trading Indicator Table

The general specifications of the BW2 Wise Man Trading Indicator are presented in the table below:

Indicator Overview

The BW2 Wise Man Trading Indicator on the MetaTrader 4 platform provides highly accurate entry signals based on the combination of the following three trading tools:

• Alligator Indicator: To identify different market phases (consolidation, trend initiation, trend continuation);
• AO (Awesome Oscillator): Measures price momentum and confirms trend strength;
• Fractal Indicator: Detects key level breakouts and market reversal points.

The combination of these three tools ensures that entry signals are only generated when the market is fully aligned in terms of trend, strength, and structural breakout.

Indicator in an Uptrend

The image below displays the NASDAQ 100 index (NAS100) in a 4-hour timeframe.

In the BW2 Wise Man Indicator, a signal is generated only when all three conditions are met simultaneously, The Alligator confirms the market trend, The price momentum aligns with the trend via AO, The Fractal detects a valid breakout.

In this case, a red dot appears below the candle, indicating a buy signal.

Indicator in a Downtrend

The following chart shows the price of the BNB cryptocurrency in a 30-minute timeframe.

In a downtrend, when the Alligator confirms the bearish market direction, the AO reflects sufficient negative momentum, and the Fractal identifies a support breakout,

a yellow dot appears above the candle, signaling an entry into sell trades.

BW2 Wise Man Indicator Settings

The settings panel of the BW2 Wise Man Trading Indicator is shown below:

• ALERT: Sound alert;
• EMAIL: Email notification;
• NOTIFICATION: Mobile push notification;
• MESSAGE_TIMEOUT: Show Message delay time;
• MESSAGE_SUBJECT: Show Message subject;
• Arrow Offset: Arrow distance from the candle;
• Back: Number of previous candles to check.

Conclusion

The BW2 Wise Man Indicator is a tool based on Bill Williams' Chaos Theory, which only generates entry signals when all three indicators align simultaneously.

This multi-layer filter enhances accuracy and reduces noise in trades, making it suitable for use in building trading strategies.