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The WL bars
WL stands for Wim Lievens, a Belgian trader with more than 20 years experience. This trader is only interested in movement. Time is absolutely not relevant. As a matter of fact, he considers time a nuisance which only puts traders on the wrong track. Not satisfied with existing chart types, Wim Lievens (mytradeclass) designed his proprietary WL Bars and shares them with all other traders.
These are the advantages of the WL Bars:
- They make market movements clear.
- They visualize the speed and the size of market movements.
- They give better reversal signals than range bars or time candles.
- They allow more precise stop management.
- They can be used together with this trader’s strategies.
The WL Bars combine the best characteristics of the ‘pure movement’ candles. They have the clarity of renko bars, the precision of range bars and, like Heikin Ashi candles, they open in the body of the previous bar in order to filter out irrelevant information and show movement in a clean way.
This example shows the WL Bars used on the German DAX index.