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In this lesson, you’ll learn how to install and configure the MotiveWave study to access your MenthorQ data directly within your trading platform. We’ll walk you through the complete setup process, from installation to customization of price levels and visual settings.
The setup begins by downloading the study file from your MenthorQ dashboard and extracting it into the MotiveWave extensions directory. This creates the necessary lib and ext directories that allow MotiveWave to load the study. Once installed, you can add the mentherq study from the Custom section of the Study menu and authenticate using your API key from your dashboard.
The study offers extensive customization options for displaying price levels. You can choose which level types to display, including gamma levels and blind spots, which are shown by default and can be toggled on or off. The label formatting settings let you adjust font size, alignment (left, right, or center), and precise positioning to match your chart preferences.
Each individual level can be fully customized with different colors, line sizes, and styles like dashed or dotted lines. When multiple levels overlap at the same price, the study applies a separate overlapping levels style to ensure clarity and prevent visual conflicts. This allows you to distinguish between coinciding support and resistance zones at a glance.
The study also supports conversions, enabling you to plot levels from one instrument (like SPX) on another instrument’s chart (like ES) by specifying a conversion ratio. This feature is particularly useful for comparing related instruments and understanding how their key price levels interact.
To get started, download the MotiveWave study from your dashboard, extract it to your MotiveWave extensions directory, and launch the platform. Add the mentherq study from the Custom studies menu, enter your API key, and click Refresh price levels to display your data.
Video Chapters
00:00 – Installing the MotiveWave study from dashboard
00:45 – Adding the study and entering API key
01:34 – Customizing level types and label formatting
02:29 – Adjusting individual level colors and styles
03:19 – Managing overlapping levels styling
03:44 – Setting up conversions between instruments
Key Takeaways
The MotiveWave study requires extraction to the extensions directory with proper lib and ext folder structure
You can customize which levels display, including gamma levels and blind spots, along with their colors, sizes, and line styles
Overlapping levels have a separate styling option to prevent visual conflicts when multiple levels coincide
The conversions feature allows you to plot levels from one instrument onto another instrument’s chart using a conversion ratio
Video Transcription
[00:00:00.24] - Speaker 1 Hi there, folks. I'm Joey and I want to show you how to set up the Motive Wave study for Menther Hue. So after you've downloaded it from your dashboard, which I've already done, I have it right here, I'm going to drag this file into the Motive Wave extensions directory, which should exist if you've already installed Motivewave. Okay. And I want to extract the files into this directory.
[00:00:22.17] - Speaker 1 And so what you should end up with are a lib and ext directory, which is necessary for Motive Wave to actually load the study.
[00:00:35.26] - Speaker 1 Okay, so now I fire up Motive Wave.
[00:00:45.02] - Speaker 1 Okay, let's maximize this chart. Now, to add the study to your chart, you click on Study, go down to Custom, and you'll see one called menthereq. Now, so I click that. First thing it's going to ask you for is your API key, which you can find by logging into your Mentor Q Dashboard. So I'm going to go ahead and copy mine in here and click on Create.
[00:01:11.23] - Speaker 1 And so now you can see it added the study onto the chart. So if I right click the study and I click Refresh price levels. Now it'll show you the price levels for es. Next, let's talk about customizing the settings for the study. So if I double click the study, it will fire up the settings for me.
[00:01:34.12] - Speaker 1 So first thing we can look at are the different types of levels that you can plot. By default, the gamma levels are shown. Say, I want to also show the blind spots. I can check that box. Click Apply.
[00:01:46.29] - Speaker 1 And now you can see the blind spots are also being applied onto the chart. Next, let's talk about the label formatting. So now you can go in here and you can change the size of the labels. Say I want to make that 20. And then you can align them either left, right or center.
[00:02:07.02] - Speaker 1 Let's put these on the left. And then you can really tweak the alignment of the labels on the left and right side. If you want to nudge it one way or another, just click Apply for that. Okay, so now it's moved into the left and with a larger font. Now let's talk about the individual level colors themselves.
[00:02:29.13] - Speaker 1 So you can change the colors, the size of the levels, the type of line it is, dashed or dotted. And you can also turn on and off individual levels as well. So you see, one day men down here say, I want to turn that off. I'll just uncheck that. Click Apply.
[00:02:49.10] - Speaker 1 And now it's gone. Okay, let's turn that back on and let's make it this blue color a little bit bigger. I can make it dashed. Click apply. Okay, so you can do that for every level that is available from Mentor Queue.
[00:03:07.08] - Speaker 1 All right, let's turn that off for a second because I want to show you the overlapping levels. So sometimes levels will overlap each other. So put support. Put support. 0tte are both at the same price level.
[00:03:19.05] - Speaker 1 Now, sometimes these colors and styles conflict each other. So what we've done is we've added another style which basically applies to any overlapping levels. So let's make these white and dotted and a little bit bigger. Click apply. Okay, so now you can see all the overlapping levels are styled with this other style that you see here.
[00:03:44.13] - Speaker 1 All right, now let's talk about conversions. So say I want to plot SPX levels on top of my ES chart. I can type in SPX and give it a ratio. I'm going to keep it as one for right now, and then I'll turn that conversion on. Click Apply.
[00:04:03.15] - Speaker 1 And there we go. Now we see a whole lot of levels for SPX and for ESPN plotted all, all together. Okay, so let's turn off some of the GEX levels just to clean things up a little bit. So, yeah, there you go. So you can see the inverted levels are also shown on the chart for es.
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