OPEN-SOURCE SCRIPT
Elliott Impulse & Correction Lines
Labels 1–5, A, B, C using structural Elliott rules only (no fib ratios): W2 holds above origin, W3 > W1, W4 holds above W2 (optional strict no-overlap toggle), W5 > W3; B inside 5, C beyond A
Legs colored per the card: green solid for impulse-direction waves (1, 3, 5, A, C), red dashed for counter waves (2, 4, B)
GLOBAL IMPULSE MOVEMENT — thick green line origin→5, drawn + alerted when Wave 5 confirms
GLOBAL CORRECTION — thick red line 5→C, drawn + alerted when Wave C confirms
Bearish mirror (impulse down, correction up) included; pivot length, min swing, timeout tunable
Legs colored per the card: green solid for impulse-direction waves (1, 3, 5, A, C), red dashed for counter waves (2, 4, B)
GLOBAL IMPULSE MOVEMENT — thick green line origin→5, drawn + alerted when Wave 5 confirms
GLOBAL CORRECTION — thick red line 5→C, drawn + alerted when Wave C confirms
Bearish mirror (impulse down, correction up) included; pivot length, min swing, timeout tunable
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.