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.
Skrip sumber terbuka
Dalam semangat TradingView sebenar, pencipta skrip ini telah menjadikannya sumber terbuka, jadi pedagang boleh menilai dan mengesahkan kefungsiannya. Terima kasih kepada penulis! Walaupuan anda boleh menggunakan secara percuma, ingat bahawa penerbitan semula kod ini tertakluk kepada Peraturan Dalaman.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.
Skrip sumber terbuka
Dalam semangat TradingView sebenar, pencipta skrip ini telah menjadikannya sumber terbuka, jadi pedagang boleh menilai dan mengesahkan kefungsiannya. Terima kasih kepada penulis! Walaupuan anda boleh menggunakan secara percuma, ingat bahawa penerbitan semula kod ini tertakluk kepada Peraturan Dalaman.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.