OPEN-SOURCE SCRIPT
Elliott Wave Structure
Elliott Wave Structure is a visual market-structure tool that identifies potential Elliott Wave sequences using confirmed swing highs and lows.
The indicator connects confirmed pivots to create a clear wave structure and labels the most recent sequence as 1–2–3–4–5 and A–B–C when sufficient swing points are available.
Impulse Waves
Wave 1 — The initial move that begins a potential new trend.
Wave 2 — A corrective retracement of Wave 1 that does not completely invalidate the new trend.
Wave 3 — Typically the strongest impulse phase, as participation in the developing trend increases.
Wave 4 — A corrective pause following Wave 3 before the potential final impulse.
Wave 5 — The final impulse wave of the sequence, often occurring with weaker momentum than Wave 3.
Corrective Waves
Wave A — The initial move against the preceding five-wave trend.
Wave B — A temporary counter-move that attempts to resume the previous trend.
Wave C — The final leg of the correction, completing the potential A–B–C structure.
How It Works
The indicator uses confirmed pivot points to identify significant market swings. The **Pivot Length** input controls how sensitive the swing detection is:
* Lower values detect smaller and more frequent swings.
* Higher values focus on larger and more significant swings.
Because pivots require confirmation, the most recent wave structure can change as new price action develops.
Important Note
Elliott Wave analysis involves interpretation and multiple valid wave counts can exist on the same market. This indicator provides a **visual representation of potential wave structure** based on confirmed market swings; it does not determine the definitive Elliott Wave count.
Disclaimer
This indicator is provided for **educational and informational purposes only**. It does not constitute financial, investment, trading, or other professional advice.
Past market behavior does not guarantee future results. Trading financial markets involves substantial risk, and you should conduct your own research and use appropriate risk management before making any trading decisions.
The author makes no guarantee regarding the accuracy, completeness, or future performance of any signals, wave counts, or interpretations generated by this indicator.
The indicator connects confirmed pivots to create a clear wave structure and labels the most recent sequence as 1–2–3–4–5 and A–B–C when sufficient swing points are available.
Impulse Waves
Wave 1 — The initial move that begins a potential new trend.
Wave 2 — A corrective retracement of Wave 1 that does not completely invalidate the new trend.
Wave 3 — Typically the strongest impulse phase, as participation in the developing trend increases.
Wave 4 — A corrective pause following Wave 3 before the potential final impulse.
Wave 5 — The final impulse wave of the sequence, often occurring with weaker momentum than Wave 3.
Corrective Waves
Wave A — The initial move against the preceding five-wave trend.
Wave B — A temporary counter-move that attempts to resume the previous trend.
Wave C — The final leg of the correction, completing the potential A–B–C structure.
How It Works
The indicator uses confirmed pivot points to identify significant market swings. The **Pivot Length** input controls how sensitive the swing detection is:
* Lower values detect smaller and more frequent swings.
* Higher values focus on larger and more significant swings.
Because pivots require confirmation, the most recent wave structure can change as new price action develops.
Important Note
Elliott Wave analysis involves interpretation and multiple valid wave counts can exist on the same market. This indicator provides a **visual representation of potential wave structure** based on confirmed market swings; it does not determine the definitive Elliott Wave count.
Disclaimer
This indicator is provided for **educational and informational purposes only**. It does not constitute financial, investment, trading, or other professional advice.
Past market behavior does not guarantee future results. Trading financial markets involves substantial risk, and you should conduct your own research and use appropriate risk management before making any trading decisions.
The author makes no guarantee regarding the accuracy, completeness, or future performance of any signals, wave counts, or interpretations generated by this indicator.
開源腳本
秉持TradingView一貫精神，這個腳本的創作者將其設為開源，以便交易者檢視並驗證其功能。向作者致敬！您可以免費使用此腳本，但請注意，重新發佈代碼需遵守我們的社群規範。
免責聲明
這些資訊和出版物並非旨在提供，也不構成TradingView提供或認可的任何形式的財務、投資、交易或其他類型的建議或推薦。請閱讀使用條款以了解更多資訊。
開源腳本
秉持TradingView一貫精神，這個腳本的創作者將其設為開源，以便交易者檢視並驗證其功能。向作者致敬！您可以免費使用此腳本，但請注意，重新發佈代碼需遵守我們的社群規範。
免責聲明
這些資訊和出版物並非旨在提供，也不構成TradingView提供或認可的任何形式的財務、投資、交易或其他類型的建議或推薦。請閱讀使用條款以了解更多資訊。