MASi WaveHist Forex Indicator is a technical implementation of the market cycle indicator described by Raji Horner.
In his book FOREX in 5 Hours a Week: How to Profit from Financial Market Trading in Your Free Time, he describes this concept as follows:
“Wave is a simple market cycle indicator: three exponential moving averages, calculated using the Fibonacci number 34. The indicator provides a visual imprint of market trend—or its absence. In this regard, Wave is far superior to trendlines, support and resistance levels. The reason is that trendlines and support/resistance levels do not work—these lines can be found on all markets with bullish, bearish, or ranging price action, yet they offer no insight into the current stage of the market cycle.”
The logic of the MASi WaveHist indicator is straightforward:
- Green bars indicate an uptrend, appearing when the bar closes above the EMA 34 (High);
- No bars signal consolidation, occurring when the bar closes between the EMA 34 (High) and EMA 34 (Low);
- Pink bars indicate a downtrend, appearing when the bar closes below the EMA 34 (Low);
- A signal is confirmed when three consecutive bars of the same color appear.
MASi WaveHist Forex Market Cycle Indicator works effectively as a trend filter in directional trading strategies.
Download MASi WaveHist Forex Indicator
Other Forex Indicators for MetaTrader 5
FAQ
How does MASi WaveHist determine trend direction?
It compares each bar’s close to two EMA(34) bands: above EMA(High) = green (uptrend), below EMA(Low) = pink (downtrend), between them = consolidation (no bar).
What is the confirmation rule for trade signals?
A valid signal requires three consecutive bars of the same color—green for long entries, pink for short entries.
Can MASi WaveHist be used as a standalone strategy?
No—it’s designed as a trend filter, not a full system. Combine it with entry triggers (e.g., price action, momentum) and risk management.
