OPEN-SOURCE SCRIPT
更新済 Wolfe Wave Pattern

Hello All!
For a while now, some of my followers have been asking me to develop Wolfe Wave Pattern. Here it's at your service as open-source and public indicator.
How it works?
- On each bar/tick it checks zigzag waves by using base period and updates the array that is used to keep zigzag levels and locations. Base period in the settings is the minimum zigzag period
- Then it searches if there is new bullish/bearish Wolfe Wave pattern according to last wave direction
- Before searching the pattern it calculates all possible 1234 waves. So any wave in 12345 uses base period or higher. it means that it search all possible candidates. This algorithm is much better than using a few zigzag periods.
- After getting all possible candidates, it checks if any of the found candidates is suitable for Wolfe Wave pattern and keeps them in a matrix
- if there are suitable candidate(s) it shows the latest one and triggers the alert
- it also follows the targets and if the price hits any of the target it extends the line and trigger the alert
- it doesn't check if any of the patterns hits stop-loss.
Options:
Base Period: minimum period to create the zigzag
Error Rate: there are usually so few perfect patterns, so we better consider deviation. if error rate is low than it finds less pattern with more accuracy, if error rate is high than it finds more pattern with less accuracy
- The other options are used for coloring the patterns and lines
Some examples:


P.S. I didn't have enough time to test the indicator, so please drop a comment if you see any issue while using it
Enjoy!
For a while now, some of my followers have been asking me to develop Wolfe Wave Pattern. Here it's at your service as open-source and public indicator.
How it works?
- On each bar/tick it checks zigzag waves by using base period and updates the array that is used to keep zigzag levels and locations. Base period in the settings is the minimum zigzag period
- Then it searches if there is new bullish/bearish Wolfe Wave pattern according to last wave direction
- Before searching the pattern it calculates all possible 1234 waves. So any wave in 12345 uses base period or higher. it means that it search all possible candidates. This algorithm is much better than using a few zigzag periods.
- After getting all possible candidates, it checks if any of the found candidates is suitable for Wolfe Wave pattern and keeps them in a matrix
- if there are suitable candidate(s) it shows the latest one and triggers the alert
- it also follows the targets and if the price hits any of the target it extends the line and trigger the alert
- it doesn't check if any of the patterns hits stop-loss.
Options:
Base Period: minimum period to create the zigzag
Error Rate: there are usually so few perfect patterns, so we better consider deviation. if error rate is low than it finds less pattern with more accuracy, if error rate is high than it finds more pattern with less accuracy
- The other options are used for coloring the patterns and lines
Some examples:
P.S. I didn't have enough time to test the indicator, so please drop a comment if you see any issue while using it
Enjoy!
リリースノート
Individual alerts added3. wave fixed
リリースノート
Numbers added (user request)リリースノート
Arrows fixedオープンソーススクリプト
TradingViewの精神に則り、このスクリプトの作者はコードをオープンソースとして公開してくれました。トレーダーが内容を確認・検証できるようにという配慮です。作者に拍手を送りましょう!無料で利用できますが、コードの再公開はハウスルールに従う必要があります。
Our New Free Official Telegram Channel is t.me/+nOh3yWZOYINlOWIy
免責事項
この情報および投稿は、TradingViewが提供または推奨する金融、投資、トレード、その他のアドバイスや推奨を意図するものではなく、それらを構成するものでもありません。詳細は利用規約をご覧ください。
オープンソーススクリプト
TradingViewの精神に則り、このスクリプトの作者はコードをオープンソースとして公開してくれました。トレーダーが内容を確認・検証できるようにという配慮です。作者に拍手を送りましょう!無料で利用できますが、コードの再公開はハウスルールに従う必要があります。
Our New Free Official Telegram Channel is t.me/+nOh3yWZOYINlOWIy
免責事項
この情報および投稿は、TradingViewが提供または推奨する金融、投資、トレード、その他のアドバイスや推奨を意図するものではなく、それらを構成するものでもありません。詳細は利用規約をご覧ください。