OPEN-SOURCE SCRIPT
OJLJ Elliott Waves detector (Free)
Diupdate
This script is made to identify Elliot Waves by setting a zigzag line as principal source, it identifies patterns with the most common rules, in the chart you will see a number in each wave detected, a wave could have the characteristics to be two different waves so it will be plotted the options that could be, To identify which one is most trustable I suggest to use the Fibonacci levels options as an additional note this is a free update to my existing script.
Features:
+ All waves ? (Option to show just the 5 Wave patterns recognition)
+ Draw zigzag line (Option to show the zigzag line)
+ Supports Multiple instruments, from FOREX to Stocks
+ It works on all the timeframes
+ Show Fib levels (Option to show the Fibonacci levels)
+ Fibonacci levels fit test (Green crosses mark were should a Bull wave be to fit with a Fibonacci Level While the purple crosses show were should the wave fit to be a bear trend, the more closer with the point of the wave the most trustable Example, a 5 Wave Bull could also be a 2 Bear Wave, if the green cross is closer to the orange point of the wave then is a 5 Wave Bull, if the purple cross is closer to the orange point)
+ A background color also show when a 5 pattern is identified
+ The way to plot the zigzag can be changed with 3 Input options
Characteristics to add in future updates (Please if you like it you can support me with coins):
+ Detect more than 1 cycle at the same time
+ Use a volume indicator to identify how many volume was traded in each wave
+ Implement the use of the EWO ( Elliot Wave Oscillator)
+ Improve the display
+ Identify ABC patterns
+ Add triangles and Zigzag formations
Features:
+ All waves ? (Option to show just the 5 Wave patterns recognition)
+ Draw zigzag line (Option to show the zigzag line)
+ Supports Multiple instruments, from FOREX to Stocks
+ It works on all the timeframes
+ Show Fib levels (Option to show the Fibonacci levels)
+ Fibonacci levels fit test (Green crosses mark were should a Bull wave be to fit with a Fibonacci Level While the purple crosses show were should the wave fit to be a bear trend, the more closer with the point of the wave the most trustable Example, a 5 Wave Bull could also be a 2 Bear Wave, if the green cross is closer to the orange point of the wave then is a 5 Wave Bull, if the purple cross is closer to the orange point)
+ A background color also show when a 5 pattern is identified
+ The way to plot the zigzag can be changed with 3 Input options
Characteristics to add in future updates (Please if you like it you can support me with coins):
+ Detect more than 1 cycle at the same time
+ Use a volume indicator to identify how many volume was traded in each wave
+ Implement the use of the EWO ( Elliot Wave Oscillator)
+ Improve the display
+ Identify ABC patterns
+ Add triangles and Zigzag formations
Catatan Rilis
Hello People, I added figures in the chart (bear) and (bull)Skrip open-source
Dengan semangat TradingView yang sesungguhnya, penulis skrip ini telah menerbitkannya sebagai sumber terbuka, sehingga para trader dapat memahami dan memverifikasinya. Hormat untuk penulisnya! Anda dapat menggunakannya secara gratis, namun penggunaan kembali kode ini dalam publikasi diatur oleh Tata Tertib. Anda dapat memfavoritkannya untuk digunakan pada chart
Inggin menggunakan skrip ini pada chart?
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.