OPEN-SOURCE SCRIPT

Elliott Wave 3 Finder

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This script will attempt to find the location of the third wave in the Elliot Wave Theory. The bars will become highlighted when possible wave 3 criteria is met. Multiple bars in a row may have a painted background. The point at which the bars are no longer painted will potentially be at or near the end of wave 3.

The background paints a baby blue for wave 3s in an overall uptrend, and pink for downtrends.
Nota Keluaran
I have provide a user input to change how many bars are considered for painting extreme highs and lows. The default is 50 bars which means if the current bar is the highest high in the last 50 bars it will receive a painted background. Same applies for the low. Alter this setting to see the differences in sensitivity.
elliottwave_toolsExponential Moving Average (EMA)ew_analysisforecastinglegalstealsstonksignalerwave_3wave_3_finderWave Analysis

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All forecasts are based on analysis of past behavior. Prior movements are not always indicative of future movement. Develop the theory, test the theory. Do your own research. Nothing in this analysis constitutes advice. YouTube For More. Good luck!!
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