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Elliott Wave Predictor (9-Step Cycle + Full Year Projection)

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Elliott Wave Predictor (9-Step Cycle + Full Year Projection)

This indicator provides an advanced Elliott Wave structure analysis and projection tool, designed to visualize a complete hypothetical market cycle based on classic Fibonacci ratios. It models a complex 9-step Impulse Wave (1, 2A, 2B, 2C, 3, 4A, 4B, 4C, 5) followed by a post-cycle Correction (A-B-C), giving you a comprehensive roadmap for potential price action over the next ~1 year.

Key Features
🌊 Advanced 9-Step Impulse Cycle
Unlike simple 5-wave counters, this script models the internal sub-waves of corrections for greater precision:

Wave 1: Initial Impulse
Wave 2 (A-B-C): A detailed 3-step correction (ZigZag) targeting specific Fibonacci retracement levels (0.382, 0.50, 0.618).
Wave 3: The major impulse leg targeting the 1.618 extension.
Wave 4 (A-B-C): Another layered 3-step correction, providing realistic paused setups before the final leg.
Wave 5: The final impulse targeting the 2.618 extension.

🔮 Full "Year-Ahead" Projections
The script projects price action 12 steps into the future (Wave 1-5 + Correction A-B-C), visualized as a dotted path extending from the current price. This offers a long-term "what if" scenario based on ideal Elliott Wave structures.

🤖 Smart "Overshoot" Detection
The prediction engine is context-aware. If the live price has already moved past a projected target (e.g., dropped deeper than expected for Wave A), the script automatically:

Detects the overshoot.

Assumes the current move is the completion of that wave.
Instantly recalculates and projects the next leg (e.g., the Wave B bounce) from the current price.

🛠️ Manual & Auto Controls
Auto Trend Detection: Analyzes recent price action (last 6 swings) to determine the dominant trend (Bullish/Bearish).
Manual Overrides: Need to force a specific count? You can manually set the "Last Completed Wave" (e.g., "Just finished Wave 3") to align the projection with your own analysis.
📊 Comprehensive Dashboard
A built-in table displays:

Targets: Exact price levels for every upcoming wave.
% Change: Standardized percent moves to reach each target.
Fib Levels: The Fibonacci logic behind each target (e.g., "0.618 Retrace", "1.618 Ext").

📈 Additional Overlays
50 & 200 WMA: Trend-following moving averages color-coded for instant bias confirmation.
Fibonacci Levels: Dotted horizontal lines showing key support/resistance zones relative to the wave structure.
How to Use

Add to Chart: Works best on Daily (D) or Weekly (W) timeframes for swing trading contexts.

Check Trend: Ensure the "Trend Direction" setting matches your market view (or leave it on "Auto").
Align Count: If the automatic count seems off (e.g., market is clearly in Wave 4 but script says Wave 2), use the "Manual Last Wave" setting to tell the script "I just finished Wave 3". The projection will instantly snap to the correct Wave 4->5 path.

Disclaimer: This tool projects hypothetical geometric paths based on standard Elliott Wave theory. Markets do not always follow theory. Use this for planning and scenario analysis, not as a guaranteed signal.

ملاحظات الأخبار
Elliott Wave Predictor Update 2.0: Predictive Trend Reversal
This major update transforms the projection capabilities to provide a full year+ outlook with significantly improved accuracy and cycle logic.

Key Changes:

🔄 New Trend Reversal Logic: The predictor now models alternating market cycles. After completing a 5-wave impulse in the current trend direction (e.g., Bearish), the subsequent projected cycle will automatically reverse (e.g., Bullish), creating a realistic zig-zag market structure.
📅 Extended 12-Month Projection: The forward projection loop has been extended to cover approximately 12 months, giving you a longer-term roadmap.
📐 Cumulative Wave Calculation: Wave targets are now calculated cumulatively (e.g., Wave 3 targets are based on the end of Wave 2), ensuring precise Fibonacci ratios (1.618 extensions) regardless of cycle positioning.
✨ Strict 9-Step Impulse Cycle: Refined the visualization to strictly follow the 9-step impulse pattern (1-2A-2B-2C-3-4A-4B-4C-5) for clarity.
🚀 Smart Overshoot Detection: Restored logic to automatically advance the projection if price action has already "completed" a sub-wave target (like Wave A).
Improvements:

Fixed issue where Wave 3 targets could appear lower than Wave 2 in bullish reversals.
Fixed variable scope errors for cleaner compilation.
Enhanced visual stability of projection lines.
ملاحظات الأخبار
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