OPEN-SOURCE SCRIPT
Wave Velocity Directional PRO
📊 Wave Velocity Directional PRO
Wave Velocity Directional PRO is a manual structural analysis tool designed to compare the strength and sharpness of two selected price waves.
The indicator allows you to manually select:
Wave 1 (start → end)
Wave 2 (start → end)
It then automatically calculates:
Directional Range
Velocity (price movement per bar)
Velocity Ratio (Wave 1 / Wave 2)
Structural Status evaluation
🔍 Directional Range Logic
The range is calculated directionally to capture the full movement dimension of the wave:
For bullish waves:
Range = High_end − Low_start
For bearish waves:
Range = High_start − Low_end
This ensures the full wave amplitude is measured from its true origin to its completion.
⚡ Velocity
Velocity = Range / Number of Bars
Velocity measures how aggressively price moved per bar.
Higher velocity = sharper, more impulsive movement.
📈 Velocity Ratio
Ratio = Velocity_Wave1 / Velocity_Wave2
This helps evaluate structural quality:
> 1.5 → Strong impulse
1.2–1.5 → Healthy structure
1–1.2 → Weak
< 1 → Structural warning
🎯 Use Cases
Elliott Wave validation
Impulse vs correction comparison
Structural asymmetry analysis
1–2 continuation filtering
Manual wave strength benchmarking
⚠️ Notes
This is a manual analysis tool.
Designed for structural comparison.
Does not generate trading signals.
Works independently of chart scaling or zoom.
Wave Velocity Directional PRO is a manual structural analysis tool designed to compare the strength and sharpness of two selected price waves.
The indicator allows you to manually select:
Wave 1 (start → end)
Wave 2 (start → end)
It then automatically calculates:
Directional Range
Velocity (price movement per bar)
Velocity Ratio (Wave 1 / Wave 2)
Structural Status evaluation
🔍 Directional Range Logic
The range is calculated directionally to capture the full movement dimension of the wave:
For bullish waves:
Range = High_end − Low_start
For bearish waves:
Range = High_start − Low_end
This ensures the full wave amplitude is measured from its true origin to its completion.
⚡ Velocity
Velocity = Range / Number of Bars
Velocity measures how aggressively price moved per bar.
Higher velocity = sharper, more impulsive movement.
📈 Velocity Ratio
Ratio = Velocity_Wave1 / Velocity_Wave2
This helps evaluate structural quality:
> 1.5 → Strong impulse
1.2–1.5 → Healthy structure
1–1.2 → Weak
< 1 → Structural warning
🎯 Use Cases
Elliott Wave validation
Impulse vs correction comparison
Structural asymmetry analysis
1–2 continuation filtering
Manual wave strength benchmarking
⚠️ Notes
This is a manual analysis tool.
Designed for structural comparison.
Does not generate trading signals.
Works independently of chart scaling or zoom.
Script open-source
Dans l'esprit TradingView, le créateur de ce script l'a rendu open source afin que les traders puissent examiner et vérifier ses fonctionnalités. Bravo à l'auteur! Bien que vous puissiez l'utiliser gratuitement, n'oubliez pas que la republication du code est soumise à nos Règles.
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Script open-source
Dans l'esprit TradingView, le créateur de ce script l'a rendu open source afin que les traders puissent examiner et vérifier ses fonctionnalités. Bravo à l'auteur! Bien que vous puissiez l'utiliser gratuitement, n'oubliez pas que la republication du code est soumise à nos Règles.
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.