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Advanced Elliot

The document discusses an Elliot Wave indicator script for Metastock or AFL. It contains code to identify Elliot Wave peaks and troughs, calculate zigzag lines on highs, lows, and averages, and plot the results on a price chart or separate window. It will also plot buy and sell signals as up and down arrows on the price chart based on peaks and troughs in the Elliot Wave indicator.

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maddy_i5
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203 views1 page

Advanced Elliot

The document discusses an Elliot Wave indicator script for Metastock or AFL. It contains code to identify Elliot Wave peaks and troughs, calculate zigzag lines on highs, lows, and averages, and plot the results on a price chart or separate window. It will also plot buy and sell signals as up and down arrows on the price chart based on peaks and troughs in the Elliot Wave indicator.

Uploaded by

maddy_i5
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as TXT, PDF, TXT or read online on Scribd
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_SECTION_BEGIN("Advanced Elliot Wave ");

//Elliot Wave Metastock to AFL


//-- Script Start -------
_N(Title = "{{NAME}} - {{INTERVAL}} {{DATE}}: "+_DEFAULT_NAME()+" : {{VALUES}} "
);

Option = ParamToggle("Insert To", "Price Chart|Indicator");


pr=Param("Elliot Wave minimum % move",0.5, 0.25,3,0.25);
//{ Beginner Elliot Wave stuff }
EWpk=PeakBars(H,pr)==0;
EWtr=TroughBars(L,pr)==0;
//{ Intermediate Elliot Wave stuff }
zz=Zig(C,pr);
zzHi=Zig(H,pr);
zzLo=Zig(L,pr);
Avg=(zzHi+zzLo)/2;
//{ Advanced Elliot Wave stuff }
RetroSuccessSecret=IIf(EWpk,zzHi,
IIf(EWtr,zzLo,IIf(Avg>Ref(Avg,-1),H,L)));
EW=Zig(RetroSuccessSecret,pr);
//{ Plot on price chart }
if (Option==0)
Plot(EW, "EW", ParamColor("Color", colorBrown), ParamStyle("Style", styleNoLabel|
styleThick));
else
{
//{ Plot on own window }
Plot(EWbuy-EWsell, "EW2", ParamColor("Color", colorRed), ParamStyle("Style",
styleNoLabel|styleThick));
}
//{ Buy/Sell Elliot Wave stuff }
EWbuy=TroughBars(EW,pr)==1;
EWsell=PeakBars(EW,pr)==1;
Plot(C,"",47,128+4);
PlotShapes(EWbuy*shapeUpArrow,5,0,L,-5);
PlotShapes(EWsell*shapeDownArrow,4,0,H,-5);
//-- Script End -------
_SECTION_END();

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