Elliott Wave Atlas

• What structural scale is being represented?
• Which annotations remain provisional?
• What does the current interpretation suggest?
• Which price development would challenge that interpretation?
• Does the wider market context support it?

We set out to build something that treats Elliott Wave analysis as the interpretive process it is — coordinated across degrees, honest about uncertainty, and transparent about what changes. This indicator is our attempt at that balance, and we hope it serves you as a reference framework rather than a signal source.

- Elliott Wave Atlas is published as a public invite-only script. Its analytical engine is the product of substantial original development, and that implementation is the part of this project we have chosen to keep closed. The indicator's behavior, controls, outputs, and limitations are documented in full within this guide.
- Elliott Wave Atlas is an analytical indicator, not an automated trading strategy. Its labels, zones, meters, and alerts are not standalone instructions to buy or sell.

• Super Degree — Grand Supercycle: The optional tentative scale above D1.
• D1 — Supercycle: The largest represented scale in the current analysis context.
• D2 — Cycle: The next smaller represented scale.
• D3 — Primary.
• D4 — Intermediate.
• D5 — Minor.
• D6 — Minute.
• D7 — Minuette.
• D8 — Sub-Minuette.

• 1–2–3–4–5: Conventional motive notation.
• A–B–C: Conventional simple-correction notation.
• A–B–C–D–E: Triangle notation.
• W–X–Y: Combination notation, with X representing an intervening connector.
• W–X–Y–X–Z: Extended combination notation when the experimental feature is enabled.

• Five-wave impulses.
• Developing 1-2-3 motive readings.
• Zigzag corrections.
• Regular, expanded, running, and incomplete-flat readings.
• Leading and ending diagonals.
• Supported contracting, running, barrier-like, and expanding triangle readings.
• Double Three and Double Zigzag combinations.
• Experimental Triple Three combinations.
• Eligible truncated-fifth interpretations.

1. Fig. 1. Contracting triangle under wave 4: the two boundaries converge toward the apex and the interior subdivides into an A-B-C-D-E sequence of threes, so the pattern is a correction and never an impulse, and it appears only where a correction is allowed, most often in wave 4, wave B, or wave X, and as the closing leg of a larger corrective structure. When it forms as wave 4, the triangle requires wave 4 to be displaced beyond its usual boundary so that the internal five-leg structure can develop correctly, a requirement known as an overlap; wave 4 cannot be displaced in that way unless a pattern of this kind supplies the internal structure, otherwise the wave structure would appear distorted
   
2. Fig. 2. Developing third wave on a live chart: the ratio required for wave 3 is not yet satisfied, so the advancing legs remain loose while wave 3 keeps expanding, and its own legs continue to subdivide into three sub-waves of the same loose character
   
3. Fig. 3. Double three: a rare corrective combination in which two simpler patterns are joined by an intervening X wave; when it does appear, it is most often found in the position of wave X, wave 4, or wave B, where price consumes time sideways instead of retracing sharply
   
4. Fig. 4. Contracting ending diagonal 3-3-3-3-3: the five legs subdivide into threes and the two boundaries converge, which can only occur in a terminal position, most often as wave 5 of an impulse, wave C of a zigzag or flat, or wave 5 of a larger diagonal, and it warns that the preceding trend is exhausting and a sharp reversal in the opposite direction usually follows
   
5. Fig. 5. Projection of the next cycle: wave 1 of the new sequence is still forming while its internal wave 3 continues to expand, and because a completed wave 1 must still be followed by wave 4 and wave 5, the expanding wave 3 shows that the advance has not yet terminated and serves as the driver for judging where wave 1 is likely to conclude; subdividing that developing wave 3 into its own sub-waves exposes the finer internal structure, which is used as evidence of how far the move has progressed and of when the internal count is approaching completion
   
6. Fig. 6. Truncated fifth wave: the final leg stops short of the terminus of the third wave instead of exceeding it, and it can only occur in a terminal position, most often as wave 5 of an impulse or wave C of a zigzag; in this chart the truncation marks the end of wave C, whose internal a-b-c structure unfolds inside a larger wave B, so the correction completes without reaching the level the prevailing momentum would imply, revealing hidden weakness that precedes the reversal
   

• Developing W3: Approximately 1.382–1.618 times the relevant first-wave amplitude.
• Developing W5: Approximately 0.618–1.0 times that amplitude.
• Super Degree II: Approximately 0.618–0.72 of the relevant larger first-wave amplitude.
• Super Degree III: Approximately 1.618–1.886 times that amplitude.

• A zone is not a promised destination.
• A touch does not confirm that a wave has ended.
• Different boxes can belong to different scales.
• A zone can change or disappear when its interpretation changes.
• Its horizontal extent is a visual planning aid, not a validated completion-time forecast.

• Direction: Describes the represented movement, not a guaranteed next-price direction.
• Phase and structure: Identify the current motive or corrective reading.
• Ratios: Summarize measured relationships, such as a third wave relative to a first wave or C relative to A.
• Strength and quality meters: Provide heuristic structural summaries.
• Unavailable readings: Can indicate that no eligible interpretation is available for that item.
• Analysis context: Includes available scan, depth, or display information where shown.

• Analysis settings can change interpretation, detail, or workload.
• Display settings change appearance without changing the corresponding criteria.
• Alert switches enable notifications without disabling their associated analysis.

• Increase: Include more available context. Origins or represented scale can change, and workload can increase.
• Decrease: Focus on recent structure and generally reduce historical-analysis demands.
• Caution: Larger values do not guarantee a count or simply extend an unchanged drawing.

• Increase: Permit finer detail, more labels, and additional work.
• Decrease: Simplify the hierarchy and generally reduce workload.
• Caution: Permitted depth is not guaranteed coverage.

• Increase: Favor more prominent swings and reduce minor detail.
• Decrease: Admit smaller swings, potentially increasing noise and workload.
• Important: This is not the principal sensitivity control for D1 or D2.

• Increase: Suppress shorter formations and usually simplify the display.
• Decrease: Permit more short formations, increasing detail and workload.
• Caution: Some developing annotations use separate conditions.

• Auto: Use built-in timeframe calibration and eligible adaptive refinement.
• Custom: Use the active timeframe value without automatic L1 length refinement.

• Sec: Below 1 minute. Default 500.
• Min: 1 minute to below 1 hour. Default 300.
• Hr: 1 hour to below 1 day. Default 200.
• Day: 1 day to below 1 week. Default 50.
• Wk: 1 week to below 28 days. Default 15.
• Mo: 28 days or longer. Default 3.

• Larger: Generally coarser swings and less macro detail.
• Smaller: Generally finer swings and more possible detail.
• Too coarse: Suitable structure can become unavailable.
• Too fine: Minor fluctuations and workload can increase.

• Auto: Use built-in timeframe calibration with eligible refinement.
• Custom: Use the active value without automatic L2 length refinement.

• Sec: Default 100.
• Min: Default 50.
• Hr: Default 30.
• Day: Default 25.
• Wk: Default 5.
• Mo: Default 2.

• Larger: Generally less D2 detail.
• Smaller: Generally more detail, with potential noise and workload increases.
• Constraint: L2 is bounded relative to the configured L1 setup, so its effective value can be lower than the input.

• On: Permit supported refinement.
• Off: Retain the initial calibrated resolution.
• Custom: Remain fixed.
• Caution: Eligibility and workload limits still apply.

• Increase: Permit additional evaluation where an earlier cap would stop it.
• Decrease: Bound unsuccessful analysis more tightly, potentially leaving a suitable interpretation undiscovered.
• Scope: Not a total calculation timer or a limit on all finer-degree work.

• Auto: Allow selection among supported interior readings.
• 5-3-5-3-5: Request the corresponding motive/corrective interior interpretation.
• 3-3-3-3-3: Request a corrective interior interpretation.

• It can substantially increase workload.
• It can increase displayed detail.
• Ordinary corrections with internal swings can resemble its supported conditions.

1. Choose the indicator settings and enable only the notification categories you genuinely need.
2. If an alert already exists for the previous configuration, delete that alert.
3. Open TradingView’s Create Alert dialog.
4. Select Elliott Wave Atlas.
5. Choose Any alert() function call.
6. Configure delivery options and create the new alert.

• Enabling a checkbox does not create a TradingView alert.
• Several structural events can be combined into one bar-close message.
• Initial retrospective notifications are suppressed for structures already present at initialization.
• Intrabar notifications can relate to an interpretation that later changes.
• Delivered notifications cannot be withdrawn.
• Alerts are not a complete historical event archive.

• Show Dashboard: Default On. Show or hide the panel without disabling analysis.
• Theme: Default Onyx Gold. Select a preset or Custom.
• Tooltip Language: Default EN. Choose English or Thai for supported panel tooltips—not every chart annotation.
• Position: Default Top Right. Change the screen anchor.
• Display Density: Default Comfortable. Adjust text sizing.
• Meter Style: Default Bars + %. Choose graphical meters or percentage-only presentation.
• Meter Resolution: Default 5; range 3–12. Change visual granularity, not analytical values.

• Background: Main background.
• Section: Section rows.
• Accent: Highlights.
• Text: Primary text.
• Muted: Secondary text.
• Warn: Attention states.
• Bull / Bear: Directional presentation colors.

• Scaled — Small: Compact degree-dependent sizing.
• Scaled — Medium: A more prominent hierarchy.
• Scaled — Large: Further increased prominence.
• Equal — Small / Normal / Large / Huge: Common sizing across degrees.

1. Use standard time-based candles or bars.
2. Begin with defaults, Auto mode, and fallback enabled.
3. Keep experimental Triple Three disabled initially.
4. Identify the represented degree scale and notation.
5. Separate provisional annotations from accepted mappings.
6. Read each zone and invalidation boundary in its scenario context.
7. Compare with broader market conditions.
8. Change one analytical input at a time.
9. Create alerts only after selecting the configuration.

• Excessive fine detail: Reduce Max Fractal Depth or increase Swing Significance.
• Unsuitable D2 detail: Review L2 rather than Swing Significance.
• Overall scale too fine or coarse: Review lookback and L1 separately.
• Too many short formations: Increase Min Bars per Sub-Wave.
• Text obscures price: Reduce label size, simplify notation, or hide pattern names.

• Basic: Approximately 5,000 bars.
• Essential: Approximately 10,000 bars.
• Plus: Approximately 10,000 bars.
• Premium: Approximately 20,000 bars.
• Ultimate: Approximately 40,000 bars.

• Developing updates: An unfinished endpoint changes as price extends or reverses.
• Structural reinterpretation: Later evidence changes origins, endpoints, degrees, internal detail, or pattern names.

• Several interpretations can remain plausible.
• Pattern coverage is finite, not exhaustive.
• Timeframe, data, lookback, and sensitivity changes can alter the count.
• Eligibility and workload limits can leave alternatives unexplored.
• More history or a larger budget does not guarantee a mapping.
• Zones can be missed, exceeded, or invalidated.
• Zone horizons are not reliable timing forecasts.
• Dashboard percentages are heuristic, not validated success probabilities.
• Realtime interpretation can change before bar close.
• Bar-close alerts do not make the overall count permanently non-repainting.
• Sessions, adjusted prices, feeds, gaps, and historical availability affect results.
• Synthetic charts change the price representation; use standard time-based charts.
• Dense settings can omit detail or reduce readability.
• The indicator does not simulate fills, costs, or portfolio returns.

Accuracy should be separated into two different questions, because they are not the same thing.

• Interpretive consistency: Does the indicator apply its structural criteria consistently to the available price data? Yes — that is precisely what it is designed to do. The same configuration behaves the same way, independent of fatigue, emotional attachment to a prior count, or directional bias.
• Predictive accuracy: Does a displayed structure guarantee what price will do next? No. Elliott Wave analysis is an interpretive discipline, not a predictive formula, and no structural tool can make that guarantee.

Elliott Wave theory explicitly permits more than one plausible reading of the same chart. Different degrees, alternative corrective forms, and provisional interpretations can coexist as the market develops. For that reason, a single “accuracy percentage” would be misleading: it would suggest that wave analysis produces yes-or-no answers, when in practice it produces a structured framework of conditional scenarios.

For the same reason, the dashboard meters are heuristic structural summaries, not calibrated probabilities. A 70% reading does not mean a 70% chance that a projection will succeed.

What the indicator provides is a more organized basis for judgment: a defined scale, visible developing states, conditional reference zones, and an invalidation boundary that shows when the active scenario is being challenged. How that framework contributes to your decisions depends on your own analysis, confirmation rules, and risk management.

We do not publish win rates or accuracy figures, because Elliott Wave structure cannot honestly be reduced to one. A fixed success percentage would misrepresent the nature of the method.

No. Elliott Wave Atlas is an analytical indicator, not a strategy. It does not generate entry and exit instructions, simulate order fills, account for commissions or slippage, or produce a TradingView strategy report. A conventional backtest therefore does not apply to it.

There is also a methodological reason. The indicator’s structure can be revised as new price information arrives. That behavior is intentional — it keeps the displayed interpretation aligned with the current evidence — but it means labels visible on historical bars were not necessarily available at those historical moments. Using them retrospectively as though they had been real-time signals would overstate what actually occurred.

If you want to evaluate how the indicator performs in your workflow, the credible approach is forward observation:

• Record what the indicator displayed at a specific moment, with a screenshot and timestamp.
• Define your decision and risk rules in advance.
• Track outcomes across a meaningful sample, not isolated examples.
• Include realistic costs and slippage when evaluating any trade you take.

That process measures your complete method — including how you use the indicator — rather than implying that the indicator alone determines performance.

What can be evaluated directly is the tool’s behavior: whether the structure, zones, and invalidation levels it presents are genuinely useful for organizing your analysis. That is the standard we designed it against.

The labels and alerts describe analytical events, not trade instructions. They identify what the current interpretation shows, where it may be challenged, and which reference regions are active.

Whether any part of that information becomes a trade depends on your own framework: your market, timeframe, risk tolerance, position sizing, and confirmation rules. The indicator does not supply those elements, and it is not intended to replace them.

Used thoughtfully, it can support a more structured decision process. Used as a standalone signal source, it would be misapplied — and no structural scenario, however well mapped, removes market uncertainty.

The indicator performs structural analysis on standard price data, so it can be applied to any instrument with sufficient available history — stocks, indices, forex, cryptocurrencies, commodities, and futures — across supported chart intervals from seconds through monthly charts.

Interpretation quality varies with the market. Instruments with long, continuous history and reliable data generally provide clearer structural context than markets with frequent gaps, very short history, or irregular sessions. When available history is limited, the achievable structural depth is naturally reduced.

No. Custom values apply only when the corresponding L1 or L2 mode is Custom.

The supplied defaults are the standard, tested configuration for general use. They represent a balanced starting point that has been validated across the supported timeframe categories and typical market conditions.

Changes become worthwhile when you understand what a setting controls and why you intend to adjust it. Arbitrary modifications—especially to analytical controls such as swing significance, temporal thresholds, or the D1 budget—can make the interpretation less stable without providing a clear benefit.

A practical approach:

• Begin with the defaults.
• Change one analytical input at a time.
• Compare the result across several markets and market phases rather than a single example.
• Adopt a custom configuration only when its effect is clearly understood and consistently useful.

Price aggregation, available swings, and calibration change. Degrees are relative to each chart’s context.

This is expected, and it reflects the interpretive nature of Elliott Wave analysis rather than a malfunction. Different analysts can reasonably choose different origins, endpoints, and degree assignments from the same chart.

The indicator selects its reading according to its configured criteria and sensitivity. Your own count may incorporate context that lies outside those inputs — higher-timeframe structure, fundamental events, or a preferred labeling convention.

Treat the displayed count as one structured interpretation to compare against your own. Where the two readings agree and where they diverge can itself be informative about which part of the structure is genuinely uncertain.

Yes — and this is one of the indicator’s central design principles.

Auto mode is an adaptive mode. It does not apply a fixed sensitivity to every chart interval. Instead, it calibrates its starting swing resolution to the timeframe category of the chart you are viewing, so that an intraday chart and a weekly chart each begin from a resolution appropriate to that context.

Beyond that initial calibration, Auto mode continues to adjust meaningfully when the first attempt does not produce a suitable result. If an eligible wave is not identified, the analysis can reconsider its swing resolution and evaluate again — rather than simply returning nothing. The purpose is to give you the best available opportunity to see the most suitable structural interpretation the data supports, instead of requiring you to manually hunt for the correct sensitivity.

What this means in practice:

• You do not need a separate configuration for each timeframe.
• The standard defaults work across intraday, daily, weekly, and monthly charts.
• When the starting resolution is unsuitable, the mode adapts where meaningful.
• Manual adjustment is reserved for users who want deliberate control.

Even so, no adaptive behavior can guarantee that a suitable structure exists in every market segment. Auto mode improves the opportunity to find one — it does not manufacture a count where the data does not support it.

In Custom mode, each of the six categories has its own value. Adjust only the field corresponding to the chart interval you are currently using. The remaining fields take effect when the chart enters those categories.

Additional context can change the interpretation. Lookback is an analytical setting, not merely a drawing-length control.

Yes. The developing interpretation is monitored as the realtime bar evolves, so annotations can extend or change before the bar closes. This is inherent to live structural analysis: an unfinished wave remains unfinished until the evidence develops.

Bar-close alerts report eligible events once the bar is confirmed, but confirmation does not permanently lock the surrounding count. Reassessment remains possible when later bars change the structural context.

Later information can change the reading of earlier structure. Bar close does not permanently lock a wave count.

Not necessarily. It increases resolution but can emphasize noise or change the represented scale.

It affects D3 and finer filtering. Review L1 and the analysis context instead.

When the main structure resolves into the shape of a Triangle, Diagonal, or another special formation, Elliott Wave theory expects that formation to contain its own internal subdivisions. In some cases, those subdivisions do not appear on the chart, even though the parent pattern itself is clearly labeled. This is expected behavior under certain conditions, and it typically comes down to one of two factors.

1. Label capacity and resource allocation

The indicator operates within a finite drawing budget of approximately 480–500 labeled elements. When the analysis approaches that ceiling, the system does not simply stop drawing. It makes a deliberate allocation decision: older historical detail is released first, and the smallest degrees are released before the larger ones.

In practice, this means:

• The major structural map is preserved. D1 through D3–D4 annotations remain stable so the wider wave framework stays coherent and readable.
• Fine sub-degrees (typically D5–D8) are trimmed first. These are the least structurally essential to the broader picture and the most resource-intensive to maintain.
• Resources shift toward the present. The capacity that was used on distant history becomes available for formations that are forming now, where the analysis is most actionable.

This is a conscious design choice, not a limitation of the method. A wave map that dissolves its current structure in order to preserve every minor detail from two years ago would be less useful, not more complete. The indicator prioritizes the present over the past, and the large over the small.

If you are seeing a Triangle or Diagonal without internal subdivisions and you suspect this is the cause, you can confirm it by checking the Label Size and Max Fractal Depth settings, or by narrowing the Lookback Window so fewer historical elements compete for the same budget.

2. Timeframe resolution and pivot identification

If the label budget is clearly not the constraint — that is, your structure is in the recent portion of the chart and no labels have been sacrificed — then a different explanation applies: the active chart timeframe may be too large to resolve the sub-wave pivots required by that formation.

A Triangle on a daily chart, for example, may require sub-wave pivots that exist at the 4-hour or 1-hour scale. If the sub-pivots are not distinguishable at the timeframe you are viewing, the indicator will not invent them. It will label the parent Triangle accurately and leave its interior unsubdivided rather than fabricate a structure that the underlying price data does not clearly support.

The practical test is straightforward:

• Open a smaller timeframe on the same symbol.
• Locate the same Triangle or Diagonal structure.
• Observe whether the internal A-B-C-D-E or 1-2-3-4-5 subdivisions now appear.

In most cases, they will — because the finer timeframe exposes the price swings that the larger timeframe compresses into a single bar or a single leg.

Why the indicator behaves this way

This behavior reflects two intentional principles in the design:

• Structural clarity is preserved over raw element count. An accurate, uncluttered major map is more useful than a crowded but fragmented one.
• Pattern-position rules are respected. Triangles, Diagonals, and combinations are only permitted in the wave positions where the theory allows them. This discipline is maintained even when it means leaving a formation's interior unresolved on the current timeframe.

In other words, the indicator would rather present a correct but incomplete picture than a visually fuller one built on pivots the chart cannot justify. If you want the higher-detail reading, either adjust the analysis settings to free label capacity or step down to a smaller timeframe. Both approaches are supported and both are legitimate ways to work with the tool.

The checkbox controls lines only. It does not disable labels or analysis.

Minimum lengths and L1/L2 relationship constraints can apply.

Its supporting interpretation may have changed, advanced, or become unsuitable.

No. It reports an eligible current classification, not a guaranteed subsequent movement.

The alert system does not retrospectively report every formation already present at initialization.

Only the active monitored zone is covered. Not every box is monitored independently, and a TradingView alert must have been created.

Structural revisions, changed boundaries or zones, and newly eligible events can produce additional notifications. Duplicate suppression does not mean an event can never recur.

Enable only the categories needed. Delete obsolete alerts and create a new alert after changing the configuration.

TradingView alerts retain their creation-time configuration. Delete the old alert and recreate it with the intended settings.

A high Max Fractal Depth combined with a high Lookback Window can exceed the resources available to the calculation and produce a script error. This reflects the underlying workload rather than a fault in the configuration logic.

Choose the adjustment that matches your analytical priority:

• If your priority is broad structural coverage across nearly all available bars, reduce Max Fractal Depth. The overall canvas remains large, but fewer nested subdivisions are processed.
• If your priority is finer-degree subdivision detail, reduce Lookback Window. This lowers the processing workload while preserving depth in the portion of history you are examining.

Adjust one setting at a time and confirm that the chart runs reliably before continuing to fine-tune the configuration.

Reducing either value is not a loss of quality. It is a deliberate choice between analytical breadth and analytical depth, made to match the resources actually available on your chart.

The earlier cap may not have limited evaluation, or additional work may still yield no suitable interpretation.

No. That is the requested analysis ceiling, not an account entitlement.

Yes. Each chart instance performs its own independent analysis, and you can apply the indicator to as many charts as your account supports.

Each instance consumes platform resources, however. If you monitor several charts simultaneously — particularly with extended lookback values and deep structural settings — consider lighter configurations on secondary charts to keep the workspace responsive.

No. It is a heuristic structural reading, not a demonstrated forecast probability.

No. It assists with presentation and reassessment. Users still need to understand degrees, corrections, provisional counts, and invalidation.

- Nothing in this indicator, its outputs, or this documentation constitutes financial, investment, or trading advice. All trading decisions and risk management remain the responsibility of the user.

- Treat the wave map as a conditional framework. Understand its scale, distinguish developing annotations from accepted mappings, identify what would challenge the active scenario, and reassess when evidence changes.

- No label, dashboard reading, Fibonacci zone, or alert guarantees a future outcome or profitable trade. Apply independent analysis and risk management.