BW2 Wise Man Indicator for MetaTrader 5 - 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 combines three trading tools and displays its signals as colored dots above and below candlesticks:

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

BW2 Wise Man Trading Indicator Table

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

Indicator Overview

The BW2 Wise Man Trading Indicator on the MetaTrader 5 platform generates highly accurate entry signals using the following three analytical tools:

• Alligator Indicator: Identifies different market phases such as neutral, trend initiation, and trend continuation;
• Awesome Oscillator (AO): Measures price momentum and confirms trend strength;
• Fractal Indicator: Detects level breakouts and price reversal points.

This composite structure ensures signals are only generated when the market conditions are aligned in terms of trend, momentum, and structural breakout, making it suitable for entering both Buy and Sell positions.

Indicator in an Uptrend

The image below displays the S&P 500 index chart in a 5-minute timeframe.

In the BW2 Wise Man Indicator, entry signals are only generated when all three core tools provide confirmation simultaneously.

As a result, the indicator displays a red dot below the candle, signaling a Buy entry.

Indicator in a Downtrend

The price chart below shows the USD/JPY currency pair in a 30-minute timeframe.

When the Alligator confirms the downtrend, the AO shows negative momentum in price movement, and the Fractal identifies a support level breakout,

the trading tool generates a yellow dot above the candle, indicating a Sell entry signal.

BW2 Wise Man Indicator Settings

The settings panel and adjustable parameters of the BW2 Wise Man Trading Indicator are shown below:

• ALERT: Sound notification;
• EMAIL: Send email alert;
• 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

TheBW2 Wise Man Indicator is a powerful trading tool built on Bill Williams' Chaos Theory, which issues entry signals only when all three tools are alignedsimultaneously in terms of trend, momentum, and structure.

This indicator is well-suited for detecting entry and exit points, as well as identifying short-term and long-term trend changes in financial markets.