Wave theory tool for tracking waves relations and their corrections. It filters out a sets of formations and count how often correction from them are reaching characteristic correction levels marked on the chart as CL1, CL2, CL3. It supports 2 rulesets/wave variants: Low - Based on more sensitive trend detection. Medium - Based on less sensitive trend detection.
Script settings:
| SCANNER | Trend type - Trend used by scanner to detect sets of waves. L - Low M - Medium <= W1/W2 * 100% <= - Tresholds describing proportions between 1 and 2 wave in the set. <= W3/W1 * 100% <= - Tresholds describing proportions between 3 and 1 wave in the set. <= W3/W2 * 100% <= - Tresholds describing proportions between 3 and 2 wave in the set. Show potencial areas - Showing underway sets Show Arrows - Showing arrows with possible correction on underway set. Correction from trend UP - Background and border colors for found sets in up trends Correction from trend Down - Bakcground and border colors for found sets in down trends. History - Showing sets in historic data. Stats - Type of statistic table shown on the screen: H - Hide % - Statistics with normal font %s - Statistics with small font Wn n= - Picking how many waves are taken into account when calculating statistics .
| TREND VISUALIZATION | Type - Trend visualization types: H - Hidden L - Low M - Medium B - Both Alfred - AI assistant that informs about wave confirmation or trend changes (With "Both" type Alfred will monit only Medium wave). Shadow - Showing second reprezentation of the trend with drawing with the use of minimal and maximal values. It's usefull to determine the delay between the peak and a wave change signal. Low/Med Line width/color - Width/color of drawn line. Separate setting for Low and Medium trend type.
| IMPULS VISUALIZATION | Impuls - Drawing impuls modes: H - Hidden F - First S - Second A - Auto Impuls color - Color of the first bullish arrow. Draw arrow - Drawing arrow at the end of the first bullish arrow.
Troubleshooting: In case of any problems, send error details to the author of the script.