Wolfe Waves [BigBeluga]🔵 OVERVIEW
The Wolfe Waves pattern was first introduced by Bill Wolfe , a trader and analyst in the 1980s–1990s who specialized in market geometry and natural rhythm cycles. Wolfe observed that price often forms symmetrical wave structures that anticipate equilibrium points where supply and demand meet. These formations, called Wolfe Waves , gained popularity as a reliable pattern for forecasting both short- and long-term reversals.
The Wolfe Waves indicator automatically detects these patterns in real time. It tracks sequences of five pivots (points 1 through 5) and connects them with wave lines. Users can select either Bullish or Bearish Wolfe Waves depending on their trading bias. When the pattern fails, the lines automatically turn red to highlight invalidation.
🔵 CONCEPTS
Five-Point Structure – Wolfe Waves are defined by five pivots (1–5), which together form the basis of the wave pattern.
Bullish Pattern – Occurs when price compresses downward into point 5, signaling a potential upside reversal.
Bearish Pattern – Occurs when price extends upward into point 5, forecasting a downside reversal.
Validation & Failure – The pattern is considered valid once all five pivots form; if price fails to respect the expected breakout, the indicator marks the structure as broken with red lines.
🔵 FEATURES
Automatic detection of Bullish and Bearish Wolfe Waves.
Labels each pivot (1–5) on the chart for clarity.
Draws connecting lines between pivots to visualize the wave structure.
Projects target/dashed lines (EPA/ETA) based on Wolfe Wave geometry.
Lines automatically turn red when the pattern is broken, giving immediate feedback.
Customizable color scheme for bullish (lime) and bearish (orange) waves.
Adjustable sensitivity for pivot detection.
🔵 HOW TO USE
Choose between Bullish or Bearish mode depending on your analysis.
Watch for the formation of all five pivots; the indicator labels them clearly.
Look for potential entries near point 5, with the expectation that price will travel toward the projected EPA line.
Use invalidation (lines turning red) as a risk management warning to exit failed setups.
Combine with momentum, volume, or higher-timeframe analysis to increase reliability.
🔵 CONCLUSION
The Wolfe Waves brings the classic Wolfe Wave theory into an automated TradingView tool. Inspired by Bill Wolfe’s original concept of natural market cycles, this indicator detects, labels, and validates Wolfe Waves in real time. With automatic invalidation marking and customizable settings, it offers traders a structured way to harness one of the most well-known geometric reversal patterns.
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Apex Edge – Wolfe Wave HunterApex Edge – Wolfe Wave Hunter
The modern Wolfe Wave, rebuilt for the algo era
This isn’t just another Wolfe Wave indicator. Classic Wolfe detection is rigid, outdated, and rarely tradable. Apex Edge – Wolfe Wave Hunter re-engineers the pattern into a modern, SMC-driven model that adapts to today’s liquidity-dominated markets. It’s not about drawing pretty shapes – it’s about extracting precision entries with asymmetric risk-to-reward potential.
🔎 What it does
Automatic Wolfe Wave Detection
Identifies bullish and bearish Wolfe Wave structures using pivot-based logic, symmetry filters, and slope tolerances.
Channel Glow Zones
Highlights the Wolfe channel and projects it forward into the future (bars are user-defined). This allows you to see the full potential of the trade before price even begins its move.
Stop Loss (SL) & Entry Arrow
At the completion of Wave 5, the algo prints a Stop Loss line and a tiny entry arrow (green for bullish, red for bearish). but the colours can be changed in user settings. This is the “execution point” — where the Wolfe setup becomes tradable.
Target Projection Lines
TP1 (EPA): Derived from the traditional 1–4 line projection.
TP2 (1.272 Fib): Optional secondary profit target.
TP3 (1.618 Fib): Optional extended target for large runners.
All TP lines extend into the future, so you can track them as price evolves.
Volume Confirmation (optional)
A relative volume filter ensures Wave 5 is formed with meaningful market participation before a setup is confirmed.
Alerts (ready out of the box)
Custom alerts can be fired whenever a bullish or bearish Wolfe Wave is confirmed. No need to babysit the charts — let the script notify you.
⚙️ Customisation & User Control
Every trader’s market and style is different. That’s why Wolfe Wave Hunter is fully customisable:
Arrow Colours & Size
Works on both light and dark charts. Choose your own bullish/bearish entry arrow colours for maximum visibility.
Tolerance Levels
Adjust symmetry and slope tolerance to refine how strict the channel rules are.
Tighter settings = fewer but cleaner zones.
Looser settings = more frequent setups, but with slightly lower structural quality.
Channel Glow Projection
Define how many bars forward the channel is drawn. This controls how far into the future your Wolfe zones are extended.
Stop Loss Line Length
Keep the SL visible without it extending infinitely across your chart.
Take Profit Line Colors
Each TP projection can be styled to your preference, allowing you to clearly separate TP1, TP2, and TP3.
This isn’t a one-size-fits-all tool. You can shape Wolfe detection logic to match the pairs, timeframes, and market conditions you trade most.
🚀 Why it’s different
Classic Wolfe waves are rare — this script adapts the model into something practical and tradeable in modern markets.
Liquidity-aligned — many setups align with structural sweeps of Wave 3 liquidity before driving into profit.
Entry built-in — most Wolfe scripts only draw the structure. Wolfe Wave Hunter gives you a precise entry point, SL, and projected TPs.
Backtest-friendly — you’ll quickly discover which assets respect Wolfe waves and which don’t, creating your own high-probability Wolfe watchlist.
⚠️ Limitations & Disclaimer
Not all markets respect Wolfe Waves. Some FX pairs, metals, and indices respect the structure beautifully; others do not. Backtest and create your own shortlist.
No guaranteed sweeps. Many entries occur after a liquidity sweep of Wave 3, but not all. The algo is designed to detect Wolfe completion, not enforce textbook liquidity rules.
Probabilistic, not predictive. Wolfe setups don’t win every time. Always use risk management.
High-RR focus. This is not a high-frequency tool. It’s designed for precision, asymmetric setups where risk is small and reward potential is large.
✅ The Bottom Line
Apex Edge – Wolfe Wave Hunter is a modern reimagination of the Wolfe Wave. It blends structural geometry, liquidity dynamics, and algo-driven execution into a single tool that:
Detects the pattern automatically
Provides SL, entry, and TP levels
Offers alerts for hands-off trading
Allows deep customisation for different markets
When it hits, it delivers outstanding risk-to-reward. Backtest, refine your tolerances, and build your watchlist of assets where Wolfe structures consistently pay.
This isn’t just Wolfe detection — it’s Wolfe trading, rebuilt for the modern trader.
Developer Notes - As always with the Apex Edge Brand, user feedback and recommendations will always be respected. Simply drop us a message with your comments and we will endeavour to address your needs in future version updates.
Smart Elliott Wave [The_lurker]🔷 Smart Elliott Wave – موجات إليوت الذكية
A professional indicator for automatically detecting and analyzing Elliott Wave patterns on the chart. Built on classical Elliott Wave theory, it enhances accuracy with dynamic Fibonacci validation and geometric logic—solving the most common issues traders face when applying Elliott Wave manually: complexity, subjectivity, and misinterpretation of corrections.
🎯 Key Features
Smart Elliott Wave offers a layered intelligent system that:
- Automatically detects impulsive and corrective wave structures
- Validates wave formations using Fibonacci rules
- Highlights potential reversal zones (PRZ)
- Sends instant alerts for newly detected patterns
- Supports both bullish and bearish trends
- Includes fully customizable user settings
🧠 Core Concept
The indicator analyzes price movement over time using pivot points (discovered via `ta.pivothigh` and `ta.pivotlow`) to detect wave structures that conform to Elliott Wave sequencing:
- Impulse Wave: 0-1-2-3-4-5
- Simple Correction: ABC
- Complex Correction: WXY
Each structure is validated through a strict set of logical rules combined with Fibonacci ratio checks to ensure pattern integrity and reduce false signals.
🧩 Wave Structure Components
1️⃣ Impulse Waves
- Wave 3 is not the shortest
- Wave 4 does not overlap Wave 1
- Waves 1, 3, and 5 are impulsive; Waves 2 and 4 are corrective
- Fibonacci validation can be applied to Waves 2 and 4 if enabled
2️⃣ Simple Corrections (ABC)
- Wave B partially retraces Wave A
- Wave C completes the structure without invalid overlap
- Fibonacci ratios validate the symmetry of A, B, and C (if enabled)
3️⃣ Complex Corrections (WXY)
- Only used if ABC structure is insufficient
- Requires 6 sequential pivot points: W, X, Y
- W and Y are corrective; X is a linking wave
- Follows both structural and ratio-based validations
📏 Dynamic Fibonacci Validation
When Enable Fibonacci Rules is active:
- Validates against common ratios:
`38.2%`, `50%`, `61.8%`, `78.6%`, `127.2%`, `161.8%`
- Adjustable **Fibonacci Tolerance** allows for controlled deviation
- Patterns are ignored if ratios fall outside the accepted range
🔮 Potential Reversal Zones (PRZ)
- Calculated from the most recent completed impulse wave
- Uses Fibonacci extensions to project PRZ ahead of price
- Customizable visibility and color for each ratio
- Used as dynamic take-profit or stop-loss zones
🖍️ Dual Trend Detection & Wave Coloring
- Supports both bullish and bearish patterns
- Automatic wave coloring for quick visual recognition:
- 🟦 Blue: Bullish waves
- 🟥 Red: Bearish waves
- Optional fill color for correction zones
🔔 Smart Alert System
Instant alerts are triggered when a valid wave pattern is confirmed:
- New impulse wave detected
- ABC correction appears
- Complex WXY correction formed
> Alerts are triggered only after the bar closes to prevent repainting.
⚙️ Indicator Settings
📌 Wave Detection Settings
- Pivot Left Strength: Bars to the left used for pivot detection
- Pivot Right Strength: Bars to the right for confirmation (0 = real-time)
- Enable Fibonacci Rules: Toggle Fibonacci ratio validation
- Fibonacci Tolerance: Allowed deviation in percentage
🎨 Display Settings
- Show Previous Patterns: Toggle between all patterns or only the latest
- Fill correction zones with color
- Customize wave and PRZ color schemes
📉 PRZ Settings
- Show/hide specific Fibonacci ratios
- Customize each PRZ color
- Set maximum bar extension for PRZ display
🔕 Alert Settings
- Enable or disable alerts for each type of pattern
📚 Practical Use Cases
- Daily or intraday price structure analysis
- Combine with RSI, MACD, or momentum indicators
- Filter weak signals using Fibonacci-based pattern validation
- Use PRZ zones as dynamic entry/exit targets
- Learn and reinforce Elliott Wave theory through real-time examples
📝 Important Notes
- Setting `Pivot Right = 0` allows for real-time pattern previews (may repaint)
- Disabling Fibonacci validation increases pattern count but reduces accuracy
- TradingView limits to 500 visual objects (labels, boxes, lines); older patterns may be removed
- PRZ extends up to 100 bars or 0.618 of the previous impulse duration by default
⚠️ Disclaimer:
This indicator is for educational and analytical purposes only. It does not constitute financial, investment, or trading advice. Use it in conjunction with your own strategy and risk management. Neither TradingView nor the developer is liable for any financial decisions or losses.
🔷 Smart Elliott Wave – موجات إليوت الذكية
مؤشر احترافي لرصد وتحليل أنماط موجات إليوت تلقائيًا على الرسم البياني، يعتمد على المبادئ الكلاسيكية للنظرية مع تعزيزها بالتحقق الرياضي والهندسي، ويهدف إلى تجاوز العقبات التي يواجهها معظم المتداولين عند تطبيق موجات إليوت يدويًا، مثل صعوبة التحديد، التقديرات الذاتية، وتشويش التصحيحات.
🎯 ما الذي يميز هذا المؤشر؟
يُقدّم Smart Elliott Wave نظامًا تراكبيًا ذكيًا يقوم بـ:
رصد تلقائي للموجات (الدافعة والتصحيحية)
التحقق من صحة النموذج باستخدام قواعد فيبوناتشي
عرض مناطق الانعكاس المحتملة (PRZ)
توليد تنبيهات لحظية عند تشكّل أنماط جديدة
دعم الاتجاهين (الصاعد والهابط)
واجهة إعدادات مرنة قابلة للتخصيص الكامل
🧠 الفكرة الأساسية
يعتمد المؤشر على تحليل حركة السعر عبر تسلسل زمني من النقاط المحورية (Pivots)، والتي تُكتشف باستخدام دوال مدمجة مثل ta.pivothigh وta.pivotlow. ثم يُبني فوق هذه النقاط نماذج هندسية متوافقة مع تسلسل موجات إليوت:
الموجة الدافعة (Impulse): تسلسل 0-1-2-3-4-5
التصحيح البسيط (ABC)
التصحيح المعقد (WXY)
ويتم التحقق من كل نموذج اعتمادًا على قواعد إليوت + نسب فيبوناتشي، ما يضمن موضوعية التصنيف، ودقة التحديد.
🧩 مكوّنات التحليل:
1️⃣ الموجات الدافعة (Impulse Waves):
يُشترط أن تكون الموجة الثالثة غير الأقصر.
لا تتداخل الموجة الرابعة مع نطاق الموجة الأولى.
تأكيد أن الموجات 1 و3 و5 دافعة، و2 و4 تصحيحية.
يتم التحقق من نسب تصحيح الموجتين 2 و4 حسب قواعد فيبوناتشي عند تفعيلها.
2️⃣ التصحيح البسيط (ABC):
B تصحيح جزئي للموجة A.
C تُكمل الهيكل بدون تداخل مع A.
يتم التحقق من أطوال الموجات وفق نسب فيبوناتشي لضمان التناسق.
3️⃣ التصحيح المعقد (WXY):
لا يتم تفعيله إلا عند فشل ABC في تفسير النمط.
يتطلب 6 نقاط محورية متسلسلة: W, X, Y.
W وY تصحيحيتان، وX رابط مركزي.
يخضع أيضًا لقواعد النسب والتماثل البنائي.
📏 التحقق باستخدام نسب فيبوناتشي:
عند تفعيل خاصية Enable Fibonacci Rules، يتم التحقق الصارم من نسب تصحيح الموجات:
النسب المعتمدة:
38.2%, 50%, 61.8%, 78.6%, 127.2%, 161.8%
إذا لم تكن الموجة ضمن نطاق النسبة + نسبة التسامح (Tolerance)، يتم تجاهل النموذج.
يُستخدم هذا التحقق أيضًا لرسم مناطق الانعكاس المحتملة (PRZ).
🔮 مناطق الانعكاس المحتملة (PRZ)
تُحسب PRZ باستخدام نسب فيبوناتشي انطلاقًا من نهاية آخر موجة دافعة.
تُعرض بشكل مستطيلات شفافة أو ملونة.
يمكن تخصيص كل نسبة لونًا وشكلًا خاصًا.
تُستخدم PRZ كأداة توقع للموجة التالية أو لتحديد أهداف وقف الخسارة وجني الأرباح ديناميكيًا.
🖍️ دعم الاتجاهين وتلوين الموجات:
يدعم المؤشر النماذج الصاعدة والهابطة بشكل تلقائي.
يتم استخدام تلوين بصري لتسهيل التمييز:
الأزرق: للموجات الصاعدة
الأحمر: للموجات الهابطة
لون تعبئة مخصص لمناطق التصحيح
🔔 نظام التنبيهات الذكية
يحتوي المؤشر على تنبيهات تلقائية يتم تفعيلها عند اكتمال أي نمط جديد.
يدعم التنبيهات التالية:
موجة دافعة جديدة
تصحيح بسيط ABC
تصحيح معقد WXY
التنبيهات تُطلق بعد إغلاق الشمعة التي تحقق فيها النموذج (غير فوري Repainting-safe)
⚙️ إعدادات المؤشر
📌 إعدادات تحليل الموجة:
Pivot Left Strength: عدد الأعمدة (bars) إلى اليسار لتحديد الانعكاس
Pivot Right Strength: الأعمدة إلى اليمين لتأكيد الانعكاس (0 يعني تنبؤ لحظي)
Enable Fibonacci Rules: تفعيل/تعطيل التحقق من فيبوناتشي
Fibonacci Tolerance: نسبة التفاوت المقبولة بالنسب المئوية
🎨 إعدادات العرض:
Show Previous Patterns: إظهار كل الأنماط المكتشفة أو آخر نمط فقط
PRZ Settings:
إظهار أو إخفاء نسب معينة
تخصيص الألوان
تحديد امتداد مربع PRZ زمنيًا (Max Bars)
🔕 إعدادات التنبيهات:
تفعيل/تعطيل تنبيه عند كل نمط جديد
📚 حالات الاستخدام العملية:
تحليل الحركة السعرية في بداية كل جلسة
دمج المؤشر مع أدوات مثل RSI أو MACD للحصول على إشارات مركّبة
مراقبة الموجات التوسعية والتصحيحية على فواصل 4H / Daily
استخدام PRZ كأداة لتحديد الأهداف أو وقف الخسارة
التعلم العملي لنظرية إليوت من خلال أمثلة حية
📝 ملاحظات مهمة:
تعيين Pivot Right = 0 يعني نقاط فورية (قد يعاد رسمها لاحقًا)
تعطيل فيبوناتشي يزيد عدد النماذج، لكن قد يُضعف دقتها
TradingView يحد عدد الكائنات المرسومة (Labels, Boxes, Lines) إلى 500، مما قد يؤدي إلى حذف الأنماط الأقدم تلقائيًا
PRZ يمتد افتراضيًا حتى 100 شمعة، أو 0.618 من مدة الموجة الدافعة السابقة
⚠️ إخلاء مسؤولية:
هذا المؤشر لأغراض تعليمية وتحليلية فقط. لا يُمثل نصيحة مالية أو استثمارية أو تداولية. استخدمه بالتزامن مع استراتيجيتك الخاصة وإدارة المخاطر. لا يتحمل TradingView ولا المطور مسؤولية أي قرارات مالية أو خسائر.
Elliott Wave [BigBeluga]🔵 OVERVIEW
Elliott Wave automatically finds and draws an Elliott-style 5-wave impulse and a dashed projection for a potential -(a)→(b)→(c) correction. It detects six sequential reversal points from rolling highs/lows — 1, 2, 3, 4, 5, (a) — validates their relative placement, and then renders the wave with labels and horizontal reference lines. If price invalidates the structure by closing back through the Wave-5 level inside a 100-bar window, the pattern is cleared (optionally kept as “broken”) while key dotted levels remain for context.
🔵 CONCEPTS
Reversal harvesting from extremes : The script scans highest/lowest values over a user-set Length and stores swing points with their bar indices.
Six-point validation : A pattern requires six pivots (1…5 and (a)). Their vertical/temporal order must satisfy Elliott-style constraints before drawing.
Impulse + projection : After confirming 1→5, the tool plots a curved polyline through the pivots and a dashed forward path from (a) toward (b) (midpoint of 5 and (a)) and back to (c).
Risk line (invalidator) : The Wave-5 price is tracked; a close back through it within 100 bars marks the structure as broken.
Minimal persistence : When broken, the wave drawing is removed to avoid noise, while dotted horizontals for waves 5 and 4 remain as reference.
🔵 FEATURES
Automatic pivot collection from rolling highs/lows (user-controlled Length ).
Wave labeling : Points 1–5 are printed; the last collected swing is marked b
. Projected i
& i
are shown with a dashed polyline.
Breaker line & cleanup : If price closes above Wave-5 (opposite for bears) within 100 bars, the pattern is removed; only dotted levels of 5 and 4 stay.
Styling controls :
Length (pivot sensitivity)
Text Size for labels (tiny/small/normal/large)
Wave color input
Show Broken toggle to keep invalidated patterns visible
Lightweight memory : Keeps a compact buffer of recent pivots/draws to stay responsive.
🔵 HOW TO USE
Set sensitivity : Increase Length on noisy charts for cleaner pivots; decrease to catch earlier/shorter structures.
Wait for confirmation : Once 1→5 is printed and (a) appears, use the Wave-5 line as your invalidation. A close back through it within ~100 bars removes the active wave (unless Show Broken is on).
Plan with the dashed path : The (a)→(b)→(c) projection offers a scenario for potential corrective movement and risk placement.
Work MTF : Identify cleaner waves on higher TFs; refine execution on lower TFs near the breaker or during the move toward (b).
Seek confluence : Align with structure (S/R), volume/Delta, or your trend filter to avoid counter-context trades.
🔵 CONCLUSION
Elliott Wave systematizes discretionary wave analysis: it detects and labels the 5-wave impulse, projects a plausible (a)-(b)-(c) path, and self-cleans on invalidation. With clear labels, dotted reference levels, and a practical breaker rule, it gives traders an objective framework for scenario planning, invalidation, and timing.
Adaptive Causal Wavelet Trend FilterThe Adaptive Causal Wavelet Trend Filter is a technical indicator implementing causal approximations of wavelet transform properties for better trend detection with adaptive volatility response.
The Adaptive Causal Wavelet Trend Filter (ACWTF) applies mathematical principles derived from wavelet analysis to financial time series, providing robust trend identification with minimal lag. Unlike conventional moving averages, it preserves significant price movements while filtering market noise through signal processing that i describe below.
I was inspired to build this indicator after reading " Wavelet-Based Trend Identification in Financial Time Series " by In, F., & Kim, S. 2013 and reading about Mexican Hat wavelet filters.
The ACWTF maintains optimal performance across varying market regimes without requiring parameter adjustments by adapting filter characteristics to current volatility conditions.
Mathematical Foundation
Inspired by the Mexican Hat wavelet (Ricker wavelet), this indicator implements causal approximations of wavelet filters optimized for real-time financial analysis. The multi-resolution approach identifies features at different scales and the adaptive component dynamically adjusts filtering characteristics based on local volatility measurements.
Key mathematical properties include:
Non-linear frequency response adaptation
Edge-preserving signal extraction
Scale-space analysis through dual filter implementation
Volatility-dependent coefficient adjustment, which I love
Filter Methods
Adaptive: Implements a volatility-weighted combination of multiple filter types to optimize the time-frequency resolution trade-off
Hull: Provides a causal approximation of wavelet edge detection properties with forward-projection characteristics
VWMA: Incorporates volume information into the filtering process for enhanced signal detection
EMA Cascade: Creates a multi-pole filter structure that approximates certain wavelet scaling properties
Suggestion: try all as they will provide slightly different signals. Try also different time-frames.
Practical Applications
Trend Direction Identification: Clear visual trend direction with reduced noise and lag
Regime Change Detection: Early identification of significant trend reversals
Market Condition Analysis: Integrated volatility metrics provide context for current market behavior
Multi-timeframe Confirmation: Alignment between primary and secondary filters offers additional confirmation
Entry/Exit Timing: Filter crossovers and trend changes provide potential trading signals
The comprehensive information panel provides:
Current filter method and trend state
Trend alignment between timeframes
Real-time volatility assessment
Price position relative to filter
Overall trading bias based on multiple factors
Implementation Notes
Log returns option provides improved statistical properties for financial time series
Primary and secondary filter lengths can be adjusted to optimize for specific instruments and timeframes
The indicator performs particularly well during trend transitions and regime changes
The indicator reduces the need for using additional indicators to check trend reversion
Weis Wave Max█ Overview
Weis Wave Max is the result of my weis wave study.
David Weis said,
"Trading with the Weis Wave involves changes in behavior associated with springs, upthrusts, tests of breakouts/breakdowns, and effort vs reward. The most common setup is the low-volume pullback after a bullish/bearish change in behavior."
THE STOCK MARKET UPDATE (February 24, 2013)
I inspired from his sentences and made this script.
Its Main feature is to identify the largest wave in Weis wave and advantageous trading opportunities.
█ Features
This indicator includes several features related to the Weis Wave Method.
They help you analyze which is more bullish or bearish.
Highlight Max Wave Value (single direction)
Highlight Abnormal Max Wave Value (both directions)
Support and Resistance zone
Signals and Setups
█ Usage
Weis wave indicator displays cumulative volume for each wave.
Wave volume is effective when analyzing volume from VSA (Volume Spread Analysis) perspective.
The basic idea of Weis wave is large wave volume hint trend direction. This helps identify proper entry point.
This indicator highlights max wave volume and displays the signal and then proper Risk Reward Ratio entry frame.
I defined Change in Behavior as max wave volume (single direction).
Pullback is next wave that does not exceed the starting point of CiB wave (LH sell entry, HL buy entry).
Change in Behavior Signal ○ appears when pullback is determined.
Change in Behavior Setup (Entry frame) appears when condition of Min/Max Pullback is met and follow through wave breaks end point of CiB wave.
This indicator has many other features and they can also help a user identify potential levels of trade entry and which is more bullish or bearish.
In the screenshot below we can see wave volume zones as support and resistance levels. SOT and large wave volume /delta price (yellow colored wave text frame) hint stopping action.
█ Settings
Explains the main settings.
-- General --
Wave size : Allows the User to select wave size from ① Fixed or ② ATR. ② ATR is Factor x ATR(Length).
Display : Allows the User to select how many wave text and zigzag appear.
-- Wave Type --
Wave type : Allows the User to select from Volume or Volume and Time.
Wave Volume / delta price : Displays Wave Volume / delta price.
Simplified value : Allows the User to select wave text display style from ① Divisor or ② Normalized. Normalized use SMA.
Decimal : Allows the User to select the decimal point in the Wave text.
-- Highlight Abnormal Wave --
Highlight Max Wave value (single direction) : Adds marks to the Wave text to highlight the max wave value.
Lookback : Allows the User to select how many waves search for the max wave value.
Highlight Abnormal Wave value (both directions) : Changes wave text size, color or frame color to highlight the abnormal wave value.
Lookback : Allows the User to select SMA length to decide average wave value.
Large/Small factor : Allows the User to select the threshold large wave value and small wave value. Average wave value is 1.
delta price : Highlights large delta price by large wave text size, small by small text size.
Wave Volume : Highlights large wave volume by yellow colored wave text, small by gray colored.
Wave Volume / delta price : highlights large Wave Volume / delta price by yellow colored wave text frame, small by gray colored.
-- Support and Resistance --
Single side Max Wave Volume / delta price : Draws dashed border box from end point of Max wave volume / delta price level.
Single side Max Wave Volume : Draws solid border box from start point of Max wave volume level.
Bias Wave Volume : Draws solid border box from start point of bias wave volume level.
-- Signals --
Bias (Wave Volume / delta price) : Displays Bias mark when large difference in wave volume / delta price before and after.
Ratio : Decides the threshold of become large difference.
3Decrease : Displays 3D mark when a continuous decrease in wave volume.
Shortening Of the Thrust : Displays SOT mark when a continuous decrease in delta price.
Change in Behavior and Pullback : Displays CiB mark when single side max wave volume and pullback.
-- Setups --
Change in Behavior and Pullback and Breakout : Displays entry frame when change in behavior and pullback and then breakout.
Min / Max Pullback : Decides the threshold of min / max pullback.
If you need more information, please read the indicator's tooltip.
█ Conclusion
Weis Wave is powerful interpretation of volume and its tell us potential trend change and entry point which can't find without weis wave.
It's not the holy grail, but improve your chart reading skills and help you trade rationally (at least from VSA perspective).
Wolfe Wave Detector [LuxAlgo]The Wolfe Wave Detector displays occurrences of Wolfe Waves, alongside a target line. A multiple swing detection approach is used to maximize the number of detected waves.
The indicator includes a dashboard with the number of detected waves, as well as the number of reached targets.
🔶 USAGE
The Wolfe Wave pattern is a chart pattern composed of five segments, with the initial segment extremities (points XABCD) forming a channel containing price variations.
After the price reaches point D , we can expect a reversal toward a target line (point E ). The target line is obtained by connecting and extending point X -> C .
The script draws the XABCD pattern and a projection of where E might potentially be located.
The projection is derived from the intersection between the target line and a line starting from D , parallel to B-C . From this line, margins are added, left and right, creating a wedge-shaped figure in most cases.
When the price passes the target line, this is highlighted by a dot. The dot and pattern are green by default when the target is above D and red when the target is below D . Colors can be edited in the settings. The dashed target line is colored in the opposite color.
As seen in the above example, the price trend can reverse after reaching the target line.
🔹 Symmetry
Ideally, the Wolfe Wave must have a degree of symmetry; every upward line should have a similar angle to the other upward lines, and the same should be true for the downward lines.
Also, the lines forming the channel should be as parallel as possible.
Users have the option to adjust the tolerance:
Margin controls the wave symmetry of the pattern
Angle controls the channel symmetry of the pattern
It's important to note that in both cases, a lower number will lead to more symmetrical patterns, but they may appear less frequently.
It is also important to note that increasing the Margin can delay validating the pattern. In the meantime, the price could surpass the channel in the opposite direction, invalidating and deleting the otherwise valid pattern.
🔹 Multiple Swings
Users can set a Minimum Swing length (for example 2) and a Maximum Swing length (for example 100) which defines the range of the swing point detection length, higher values for these settings will detect longer-term Wolfe patterns, while a larger range will allow for the detection of a larger number of patterns.
By using multiple swings, it is possible to find smaller next to larger patterns at the same time.
The dashboard shows the number of patterns found and targets reached. When, for example, bullish patterns are disabled in the settings, the dashboard only shows the results of bearish patterns.
🔹 Extend Target Line
The publication includes a setting that allows the Target Line to be extended up to 50 bars further. As seen in the above example, the Target Line can still be reached even after the pattern has been finalized. Once the Target Line is reached, it won't be updated further.
Here is another example of a Target Line being reached later on.
The Target Line acted as a support level, after which where the price changed direction.
🔹 Show Progression
An option is included to show the progression before the pattern is completed. Users can make use of the XABC pattern or visualize where point D should be positioned.
The focus lies on the bar range (between the left and right borders of the grey rectangle). The pattern is considered invalid and deleted when point D is beyond these limits. The height of the rectangle is optional. Ideally, the price should be located between the top and bottom of the rectangle, but it is not mandatory.
Show Progression has three options including:
Full: Show all lines of XABC plus line C-D and rectangle for the position of point D
Partial: Show line C-D and rectangle for the position of point D
None: Only show valid completed patterns
The 'Partial' option in the 'Show Progression' feature is designed to help users locate the desired position of point D without the visual clutter caused by the XABC lines. This can be useful for those who prefer a cleaner visual representation of the evolving pattern.
🔶 SETTINGS
🔹 Swing Length
Minimum: Minimum length used for the swing detection.
Maximum Swing Length: Maximum length used for the swing detection.
🔹 Tolerance
Margin: Influences the symmetry of the pattern; with a higher number allowing for less symmetry.
Angle: Influences the symmetry of the channel; with a higher number allowing for less symmetry.
🔹 Style
Toggle: Bullish/Bearish + colors
Extend Target Line: Extend a maximum of 50 bars or until Target Line is reached
Show Progression: Show pattern progression
Dot Size: The size of the dot when the Target Line is reached
🔹 Dashboard
Show Dashboard: Toggle dashboard which shows the number of found patterns and targets reached.
Location: Location of the dashboard on the chart.
Text Size: Text size.
🔹 Calculation
Calculated Bars: Allows the usage of fewer bars for performance/speed improvement
Enhanced WaveTrend OscillatorThe Enhanced WaveTrend Oscillator is a modified version of the original WaveTrend. The WaveTrend indicator is a popular technical analysis tool used to identify overbought and oversold conditions in the market and generate trading signals. The enhanced version addresses certain limitations of the original indicator and introduces additional features for improved analysis and comparison across assets.
WaveTrend:
The original WaveTrend indicator calculates two lines based on exponential moving averages and their relationship to the asset's price. The first line measures the distance between the asset's price and its EMA, while the second line smooths the first line over a specific period. The result is divided by 0.015 multiplied by the smoothed difference ('d' for reference). The indicator aims to identify overbought and oversold conditions by analyzing the relationship between the two lines.
In the original formula, the rudimentary estimation factor 0.015 times 'd' fails to accomodate for approximately a quarter of the data, preventing the indicator from reaching the traditional stationary levels of +-100. This limitation renders the indicator quantitatively biased, as it relies on the user's subjective adjustment of the levels. The enhanced version replaces this factor with the standard deviation of the asset's price, resulting in improved estimation accuracy and provides a more dynamic and robust outcome, we thereafter multiply the result by 100 to achieve a more traditional oscillation.
Enhancements and Features:
The enhanced version of the WaveTrend indicator addresses several limitations of the original indicator and introduces additional features-
Dynamic Estimation: The original indicator uses an arbitrary estimation factor, while the enhanced version replaces it with the standard deviation of the asset's price. This modification provides a more dynamic and accurate estimation, adapting to the specific price characteristics of each asset.
Stationary Support and Resistance Levels: The enhanced version provides stationary key support and resistance levels that range from -150 to 150. These levels are determined based on the analysis of the indicator's data and encompass more than 95% of the indicator's values. These levels offer important reference points for traders to identify potential price reversals or significant price movements.
Comparison Across Assets: The enhanced version allows for better comparison and analysis across different assets. By incorporating the standard deviation of the asset's price, the indicator provides a more consistent and comparable interpretation of the market conditions across multiple assets.
Upon closer inspection of the modification in the enhanced version, we can observe that the resulting indicator is a smoothed variation of the Z-Score!
f_ewave(src, chlen, avglen) =>
basis = ta.ema(src, chlen)
dev = ta.stdev(src, chlen)
wave = (src - basis) / dev * 100
ta.ema(wave, avglen)
Z-Score Analysis:
The Z-Score is a statistical measurement that quantifies how far a particular data point deviates from the mean in terms of standard deviations. In the enhanced version, the calculation involves determining the basis (mean) and deviation (standard deviation) of the asset's price to calculate its Z-Score, thereafter applying a smoothing technique to generate the final WaveTrend value.
Utility:
The 𝗘𝗻𝗵𝗮𝗻𝗰𝗲𝗱 𝗪𝗧 indicator offers traders and investors valuable insights into overbought and oversold conditions in the market. By analyzing the indicator's values and referencing the stationary support and resistance levels, traders can identify potential trend reversals, evaluate market strength, and make better informed analysis.
It is important to note that this indicator should be used in conjunction with other technical analysis tools and indicators to confirm trading signals and validate market dynamics.
Credit:
The 𝗘𝗻𝗵𝗮𝗻𝗰𝗲𝗱 𝗪𝗧 indicator is a modification of the original WaveTrend Oscillator developed by @LazyBear on TradingView.
Example Charts:
Elliott Wave [LuxAlgo]The Elliott Wave indicator allows users to detect Elliott Wave (EW) impulses as well as corrective segments automatically on the chart. These are detected and displayed serially, allowing users to keep track of the evolution of an impulse or corrective wave.
Fibonacci retracements constructed from detected impulse waves are also included.
This script additionally allows users to get alerted on a wide variety of trigger conditions (see the ALERTS section below).
🔶 SETTINGS
🔹 Source
• "high" -> options high, close, maximum of open/close
• "low" -> options low, close, minimum of open/close
🔹 ZigZag
• The source and length are used to check whether a new Pivot Point is found.
Example:
• source = high/low, length = 10:
• There is a new pivot high when:
- previous high is higher than current high
- the highs of 10 bars prior to previous high are all lower
• These pivot points are used to form the ZigZag lines, which in their turn are used for pattern recognition
🔶 USAGE
The basic principles we use to identify Elliott Wave impulses are:
• A movement in the direction of the trend ( Motive/Impulse wave ) is divided in 5 waves (Wave 1 -> 5)
• The Corrective Wave (against the trend) is divided in 3 waves (Wave A -> C)
• The waves can be subdivided in smaller waves
• Wave 2 can’t retrace more than the beginning of Wave 1
• Wave 4 does not overlap with the price territory of Wave 1
Here we see an example:
Let's look at the development:
• 1 bar after point (5) a confirmed 5 Motive Wave pattern is found (1 -> 5; The 5 Waves can also be seen as one large Wave 1 ).
• Next, the script draws a set of Fibonacci lines, which are area's where the Corrective Wave potentially will bounce.
Here we see the fifth wave is getting larger, the previous highest point is updated, and the Wave 5 is larger than Wave 3 :
(At this point, the pattern is invalidated, and it display as dotted)
Further progression in time:
At this point, a confirmed " 3 Corrective Wave pattern " is found (a -> c)
When a new high has developed, a circle is drawn (in the same color of the lines)
However, when the bottom of the drawn box has breached, a red cross will be visualized.
Further progression:
Later on, a bearish confirmed " 5 Motive Wave pattern " is found (1 -> 5):
When a Corrective Wave becomes invalidated, the ABC pattern will display as dashed (not dotted):
🔶 TECHNIQUES
Pine Script™ introduces methods!
• More information can be found here:
• Pine Script™ v5 User Manual 👉 Methods
• Pine Script™ language reference manual 👉 method
🔶 ALERTS
Dynamic alerts are included in the script, you only need to set 1 alert to receive following messages:
• When a new EW Motive Pattern is found (Bullish/Bearish )
• When a new EW Corrective Pattern is found (Bullish/Bearish )
• When an EW Motive Pattern is invalidated (Bullish/Bearish )
• When an EW Corrective Pattern is invalidated (Bullish/Bearish )
• When possible, a start of a new EW Motive Wave is found (Bullish/Bearish )
• Here is information how you can set these alerts()
Function Sawtooth WaveThis is an indicator to draw a sawtooth wave on the chart.
It can be a useful perspective, as decaying markets tend to oscillate in reverse sawtooth waves, and bullish markets can oscillate in conventional sawtooth waves. With the right inputs, it can be an early warning signal for potential movements.
Something I've noted is that large waves cause a ripple effect and sets the frequency for the market until a change occurs. Sawtooth waves may help in capturing ripple waves.
Useful inputs are:
- Average True Range as wave height (amplitude)
- Periodicity of market as wave duration (frequency)
(Inputs will change the wave from conventional to reverse)
I hope that it is helpful.
GLHF
- DPT
ZigZag Multi [TradingFinder] Trend & Wave Lines - Structures🔵 Introduction
"Zigzag" is an indicator that forms based on price changes. Essentially, the function of this indicator is to connect consecutive and alternating High and Low pivots. This pattern assists in analyzing price changes and can also be used to identify classic patterns. "Zigzag" is an analytical tool that, by filtering partial price movements based on the specified period, can identify price waves across different time frames (short or long term).
🔵 Reason for Creation
The combination of "short term zigzag" and "long term zigzag" enhances accuracy and reduces analysis time. In a time frame, "long term zigzag" represents the main trend, while "short term zigzag" depicts short-term waves.
🔵 How to Use
After selecting the desired time frame and adding "zigzag" to the chart, begin utilization. Keep in mind to identify the main market trend from "long term zigzag" and the minor waves from "short term zigzag".
🟣 Important: Additionally, classic patterns such as HH, LH, LL, and HL can be recognized. All traders analyzing financial markets using classic patterns and Elliot Waves can benefit from the "zigzag" indicator to facilitate their analysis.
🔵 Settings
Short term zigzag : In this section, you can adjust settings such as time frame range, display mode, color, and line width of the zigzag lines.
Short term label : This section allows you to activate or deactivate the display of zigzag labels according to your needs. You can also customize their color and size.
Long term zigzag : Here, you can adjust settings for time frame range, display mode, color, and line width of zigzag lines.
Long term label : Similar to short term label settings.
The recommended time frame for "long term zigzag" is between 9 to 15, and for "short term zigzag" is between 3 to 5.
🟣 Important Notes :
Considering the different behaviors of financial markets and various time frames, it is recommended to experiment with different time frame settings when using "zigzag" to find the best settings for each symbol and time frame, thereby preventing potential errors.
🟣 Terminology Explanations :
"HH": When the price is higher than the previous peak (Higher High).
"HL": When the price is higher than the previous low (Higher Low).
"LH": When the price is lower than the previous peak (Lower High).
"LL": When the price is lower than the previous low (Lower Low).
ZigZag WavesHello All,
I am here with a new idea and script, " Zigzag Waves ". This indicator creates 3 Zigzags with different lengths, keeps the lengths of each zigzag wave and calculates/draws average waves for each zigzag. optionally it can reset the wave when zigzag direction changes and new highest/lowest found. And optionally it draws Exponential Moving Average(EMA) of the sum of waves. This idea is very new and at the moment there is no optimization for the Zigzag Periods. Maybe we altogether can improve the idea and find the best zigzag periods for different symbols and time frames.
Using the options You can play with the periods, add/remove EMA, set its color and reset the waves on new Highest/Lowest. As far as I see resetting the waves on new Highest/Lowest may bring better results.
if we enable "Reset the waves on new Highest/Lowest":
Using different periods and EMA length:
P.S. if you have ideas to improve this script, drop a comment under the script please.
Enjoy!
Filtered Waves [NXT2017] #Linda Raschke #basics on Arthur MerrilHI BIG PLAYERS,
this script I wrote for an enquiry of a tradingview-user. It should represent the Filtered Waves idea from Arthur Merril and used by Linda Raschke.
It's similar like a visualization of Elliott Waves.
On YouTube title "MTA UK Chapter Presentation with Linda Raschke" between 34-36 minutes Linda Raschke shows the rules for her Filterd Waves.
Any questions? Ask me!
King regards
NXT2017
========
TO MY PERSON
I'm the second winner of the official German Forex Trading Competition in 2018.
Look here to the ranks:
deutsche-trading-meisterschaften.de
I speak german, english and russian.
My strength in trading are Wolfe Wave pattern.
CDV Momentum WaveDescription:
This indicator visualizes the Cumulative Delta Volume (CDV) as waves, providing traders with insights into the momentum and strength of buying and selling activity. By tracking the cumulative difference between buying and selling pressure, it highlights shifts in market sentiment with color-coded wave patterns.
How to Use:
Spot Momentum:
Green waves signify strong buying pressure, while red waves indicate dominant selling pressure. Blue and orange waves mark transitions or weaker momentum.
Trend Analysis:
Persistent color and direction in waves reflect a strong trend, while frequent shifts may signal reversals or consolidation.
Sensitivity Adjustment:
Use the mul2 setting to fine-tune wave responsiveness for short-term or long-term analysis.
Wave Position Adjustment:
The osx setting adjusts the visual placement of the waves on the chart.
By default (osx = 0), the waves are aligned directly with the candle data they are calculated from.
Increasing osx shifts the waves forward.
Decreasing osx shifts the waves backward.
This tool helps traders detect momentum shifts, confirm trends, and understand volume dynamics in various market conditions.
MTF WaveTrend [CryptoSea]The MTF WaveTrend Indicator is a sophisticated tool designed to enhance market analysis through multi-timeframe WaveTrend calculations. This tool is built for traders who seek to identify market momentum and potential reversals with higher accuracy.
In the example below, we can see all the choosen timeframes agree on bearish momentum.
Key Features
Multi-Timeframe WaveTrend Analysis: Tracks WaveTrend values across multiple timeframes to provide a comprehensive view of market momentum.
Customizable Colour Rules: Offers three different colour rules (Traditional, WT1 0 Rule, WT1 & WT2 0 Rule) to suit various trading strategies.
Timeframe Visibility Control: Allows users to enable or disable specific timeframes, providing flexibility in analysis.
Clear Visual Indicators: Uses color-coded squares and labels to clearly display WaveTrend status across different timeframes.
Candle Colouring Option: Includes a setting for neutral candle coloring to enhance chart readability.
This example shows what can happen when all timeframes start alligning with eachother.
How it Works
WaveTrend Calculation: Computes the WaveTrend oscillator by applying a series of exponential moving averages and scaling calculations.
Multi-Timeframe Data Aggregation: Utilizes the `request.security` function to gather and display WaveTrend values from various timeframes without repainting issues.
Conditional Plotting: Displays visual cues only when higher timeframes align with the selected timeframe, ensuring relevant and reliable signals.
Dynamic Colour Rules: Adjusts the indicator colors based on the chosen rule, whether it's a traditional crossover, WT1 crossing zero, or both WT1 & WT2 crossing zero.
Traditional: Colors are determined by the relationship between WT1 and WT2. If WT1 is greater than WT2, it is bullish (bullColour), otherwise bearish (bearColour).
WT1 0 Rule: Colors are based on whether WT1 is above or below zero. WT1 above zero is bullish (bullColour), below zero is bearish (bearColour).
WT1 & WT2 0 Rule: A more complex rule where both WT1 and WT2 need to be above zero for a bullish signal (bullColour) or both below zero for a bearish signal (bearColour). If WT1 and WT2 are not in agreement, a neutral color (neutralColour) is displayed.
This indicator will make sure that the lowest timeframe you can see data from will be the timeframe you are on. This is to avoid false signals as you cannot display 3 x 5 minute candles whilst looking at the 15 minute candle.
Application
Strategic Decision-Making: Assists traders in making informed decisions by providing detailed analysis of WaveTrend movements across different timeframes.
Trend Confirmation: Reinforces trading strategies by confirming potential reversals with multi-timeframe WaveTrend analysis.
Customized Analysis: Adapts to various trading styles with extensive input settings that control the display and sensitivity of WaveTrend data.
The MTF WaveTrend Indicator by is an invaluable addition to a trader's toolkit, offering depth and precision in market trend analysis to navigate complex market conditions effectively.
Hosoda Waves ABCDEThe Hosoda Waves indicator was devised by Goichi Hosoda, who is also the creator of the Ichimoku system, with the idea that previous highs and lows could determine future price ranges that the market would react to.
Hosoda's projections are the NT, N, V, and E waves, which are derived from calculations based on both upward and downward ABC swings.
Hosoda's waves are derived from the following calculations:
NT Wave = C + (C - A)
N Wave = B + (B - A)
V Wave = B + (B - C)
E Wave = C + (B - A)
There are already scripts for the Hosoda waves, and my idea is to project an ABCDE swing simultaneously, meaning projecting three swings:
ABC, indicated with an A, resulting in NT-A, N-A, V-A, E-A.
BCD, indicated with a B, resulting in NT-B, N-B, V-B, E-B.
CDE, indicated with a C, resulting in NT-C, N-C, V-C, E-C.
Once the indicator is applied to the chart, the interactive Pine Script tool version 5 will prompt you to identify 5 points of "low-high-low-high-low" or "high-low-high-low-high," both for upward and downward movements and mixed.
Once clicked, these price points can be moved. If you change the time frame or market instrument, the indicator must be removed because it remains tied to the prices where it was initially drawn.
SSL + Wave Trend StrategyStrategy incorporates the following features:
Risk management:
Configurable X% loss per stop loss
Configurable R:R ratio
Trade entry:
Based on strategy conditions below
Trade exit:
Based on strategy conditions below
Backtesting:
Configurable backtesting range by date
Trade drawings:
Each entry condition indicator can be turned on and off
TP/SL boxes drawn for all trades. Can be turned on and off
Trade exit information labels. Can be turned on and off
NOTE: Trade drawings will only be applicable when using overlay strategies
Alerting:
Alerts on LONG and SHORT trade entries
Debugging:
Includes section with useful debugging techniques
Strategy conditions
Trade entry:
LONG
C1: SSL Hybrid baseline is BLUE
C2: SSL Channel crosses up (green above red)
C3: Wave Trend crosses up (represented by pink candle body)
C4: Entry candle height is not greater than configured threshold
C5: Entry candle is inside Keltner Channel (wicks or body depending on configuration)
C6: Take Profit target does not touch EMA (represents resistance)
SHORT
C1: SSL Hybrid baseline is RED
C2: SSL Channel crosses down (red above green)
C3: Wave Trend crosses down (represented by orange candle body)
C4: Entry candle height is not greater than configured threshold
C5: Entry candle is inside Keltner Channel (wicks or body depending on configuration)
C6: Take Profit target does not touch EMA (represents support)
Trade exit:
Stop Loss: Size configurable with NNFX ATR multiplier
Take Profit: Calculated from Stop Loss using R:R ratio
Credits
Strategy is based on the YouTube video "This Unique Strategy Made 47% Profit in 2.5 Months " by TradeSmart.
It combines the following indicators to determine trade entry/exit conditions:
Wave Trend: Indicator: WaveTrend Oscillator by @LazyBear
SSL Channel: SSL channel by @ErwinBeckers
SSL Hybrid: SSL Hybrid by @Mihkel00
Keltner Channels: Keltner Channels Bands by @ceyhun
Candle Height: Candle Height in Percentage - Columns by @FreeReveller
NNFX ATR: NNFX ATR by @sueun123
BTC WaveTrend R:R=1:1.5In this strategy, I used Wavetrend indicator (Lazy Bear).
It is very simple and easy to understanding: Long when Wavetrend1 crossover Wavetrend2 and they are less than a limit value (not buy when price overbought). Stoploss at lowest 3 bar previous. R:R = 1:1,5.
About other shortterm strategies for crypto market, you can view my published strategies.
Hosoda N Wave and TPs {fmz}This script allows you to establish in a graphic and interactive way which are the N, NT, V and E targets for a Hosoda N wave.
Apply the indicator to the chart.
The interactive tool of Pine script version 5 will ask you to identify three points of "minimum-maximum-higher minimum" that form a bullish N wave of Hosoda (refer to the specific documentation for Hosoda N wave), or on the contrary three points "maximum-minimum-lower maximum" for a bearish N wave.
Once drawn, the price points can be moved.
When changing the market instrument, the indicator must be removed because it remains linked to the prices where it was first drawn.
TradingGroundhog - Strategy & Wavetrend V2#-- Public Strategy - No Repaint - Fractals - Wavetrend --
Here I come with another script, a nice and simple strategy based on fractals and Wavetrends.
#-- Synopsis --
A simple idea, on a small time frame (15 min) we buy when the opening price goes below a Bottom fractals and sell when it goes over a Top fractals, but in order to avoid bad and evil downtrends, we use Wavetrends based on a Daily time frame. From it, Tops and Bottoms are extracted. If the opening price goes above Wavetrend Tops, no trades will be conducted during the day. If the price goes below Wavetrend bottoms, no trades will be executed from 1 to N days, until a new Wavetrend bottom is generated.
I developed the strategy using BTC /EUR 15 MIN BINANCE but it can be applied to many other cryptos, I don't know for forex or others. You can use it for long term and automated trading, I implemented the Wavetrend indicator to do so, or for short term if you have spot a long coming uptrend. Test it, look at its profit and long or short period on your crypto of choice.
#-- Graph reading --
And now, how to read it ?
Wavetrends:
Red Backgrounds are associated to No Trade periods. These periods occur when the price goes below a Wavetrend bottom or above a Wavetrend Top. They are here to limit the loss.
Blue Gradient lines represent the past Tops. For each bar, only the increasing values of the Wavetrend tops are acquired. Going from light to dark blue based on the age of the Tops. Thus, if on line goes from dark to light, this means the price is approaching a previous Wavetrend top. In the opposite, if it darken, thus the price say 'buy buy' and go dropping.
Yellow Gradient lines represent the past Bottoms. They are based on the same principe that the blue lines.
Fractals:
Yellow Flags occur when the opening price goes below a Bottom fractal , it means Buy.
White Flags appear when the opening price goes over a Top fractal , it means Sell.
#-- Parameters --
*** Parameters have been intensively optimized using 10 cryptocurrency markets in order to have potent efficiency for each of them. I would recommend to only change the Can Be touch parameter. For the others, I don't recommend any modifications. The idea behind the script is to be able to switch between markets without having to optimize parameters, less work, easy to target active crypto and therefor limit the risks. ***
Can be touch :
'Combined Smoothness' : The number of open individuals used by the Wavetrend. (6 or 9, often 9 is better but with less volatile crypto it will be 6)
'Filter fractals' : Activate or Disable the filtering fractal operation. If Enable, buy during less risky periods. (Disable is often better)
Can be touch but not necessary :
'VolumeMA' : The Volume corrector used by the fractals
'Extreme window' : The number of price individuals to look for if we want to remove extreme fractals.
Not to touch :
'Limit_candle to look on' : Number of candles to use to compute the Wavetrend Tops and Bottoms.
'Length top bottom drawn' : Size of the lines
'Long Sop Loss (%)' : The minimal difference of price between a Fractal bottom and the opening price to buy.
#-- Time frame --
Should be used with the following time frames depending on the necessity:
1 MIN
3 MIN (Interesting for short term profit, may need some parameter ajustements)
5 MIN
15 MIN (Preferred for long term profit, the script was developed on it)
#-- Last words --
The script can be set up to send Tradingview signals to 3comma just by adding comment = " " in strategy.close_all() and strategy.entry().
Good trades !
Disclaimer (As it should always be one to any script)
***
This script is intended for and only to be used for personal purposes only. No such information provided by it constitutes advice or a recommendation for any investment or trading strategy for any specific person. There is no guarantee presented or implied as to the accuracy of specific forecasts, projections, or predictive statements offered by the script. Users of the script agree that its original developer does not take responsibility for any of your investment decisions. Please seek professional advice before trading.
***
# Here are the results from the 1rst of July 2021 with 100% of equity on the BTC /EUR 15 Min and with a capital of 1 000 EUR.
# As I saw, it goes from +20% to more than +100% depending on the selected crypto. Sometimes it's negative but it's quite rare on crypto using the EUR.
MTF Wave Trend CrossThis indicator is based on the famous "Wave Trend Oscillator" by LazyBear.
I have noticed that the Wave Trend Crosses (not the waves themselves) give a pretty good indication on the current status of the market (above Zero = bullish / below Zero = bearish ).
This new indicator is a Multi TF Version of this where it is possible to define 4 fixed Higher Time Frames and 4 fixed Lower Time Frames.
The results are then plotted above (higher TF) and below (lower TF) of the result of the current TF. (Offset can be flexibly changed in the settings)
This allows to judge the trend based on the various TFs.
Basically the greener it looks, the more bullish the situation is at the moment. More red color indicates a more bearish situation.
Enjoy.
EMA Wave Indicator [LazyBear]This is a 3 EMA visualization tool. Relative momentum across 3 timeframes are rendered as A/B/C waves. Also, helpful in identifying spike/exhaustion bars.
When all the waves are in the same direction, the momentum is very high on that direction. I have made all options configurable, have fun tuning for your instrument :)
Complete list of all my indicators:
docs.google.com
WaveTrend with CrossesWaveTrend with Crosses — Spot Golden & Dead Crosses with Precision!
WaveTrend with Crosses is a customized version of the classic WaveTrend oscillator, enhanced with clean visual signals to help you pinpoint momentum shifts through golden and dead crosses.
✅ Key Features
Momentum analysis based on WaveTrend (WT1 & WT2)
Detects Golden Cross (WT1 crosses above WT2) and
Dead Cross (WT1 crosses below WT2)
Customizable Overbought/Oversold zones (defaults: ±60, ±53)
Visual circle markers on valid crossovers for easy recognition
Built-in alert system to notify you of real-time cross signals
📊 How to Use
Add the indicator to your chart and choose your desired symbol & timeframe.
The blue shaded area shows the divergence between WT1 and WT2 — a visual cue for momentum buildup.
Circle markers:
Red circle: Dead cross — potential bearish momentum
Green circle: Golden cross — potential bullish reversal
Customize the settings to fit your personal trading strategy if needed.
🛠 User Inputs
n1, n2: Channel lengths (default: 10 and 21)
obLevel, osLevel: Overbought/Oversold thresholds (default: ±60 / ±53)
standardValue: Threshold used to validate significant crossovers (default: 60)
🔔 Alert System
Get notified with alerts like "Golden Cross" or "Dead Cross" when key crossovers occur,
helping you react quickly and confidently.
⚠️ Notes
Past performance is not indicative of future results — always backtest and use in conjunction with other tools.
Low timeframes may generate frequent signals; filtering or confirmation is recommended.
💡 Author's Note
Simple and effective — this tool is designed to focus solely on cross-based entries.
Ideal for momentum-based scalping or swing trading strategies.
Feel free to customize and tweak as needed! 😄
