Elliott Wave Auto + Fib Targets + Scalper Strategy (Fixed)

27. Sept.

// Elliott Wave Auto + Fib Targets + Scalper Strategy
//
// Fixed by expert trader:
// - Replaced table with label-based visualization to avoid 'Column 2 is out of table bounds' error.
// - Uses label.new to display buy/sell signal counts in top-right corner, mimicking table layout.
// - Fixed array.sum() error: Replaced invalid range-based array.sum() with custom sum_array_range() function.
// - Removed barstate usage to fix 'Undeclared identifier barstate' error.
// - Replaced barstate.isconfirmed with true (process every bar).
// - Replaced barstate.isfirstconfirmed with bar_index == 0 (first bar).
// - Replaced strategy.alert with label.new for long/short entry signals (buy/sell markers).
// - Fixed array index out-of-bounds: Protected array.get() calls with size checks.
// - Fixed pyramiding: Set constant pyramiding=4 (max 5 entries); use allow_pyramiding to limit entries.
// - Fixed default_qty_value: Set constant default_qty_value=100.0; use entry_size_pct to scale qty.
// - Replaced alertcondition with labels for Elliott Wave patterns.
// - Fixed partial exits: 50% at TP1 with fixed SL, 50% at TP2 with fixed SL or trailing.
// - Fixed Elliott Wave pivot indexing for alternating H/L check.
// - Ensured proper position sizing and exit logic.

27. Okt.

Versionshinweise

How to Use the Updated Script

Apply to Chart:

Add the script to TradingView on your desired timeframe (e.g., 1H, 4H BTC/USD).
Ensure showPivShapes and showScalpSignals are enabled to display pivot and scalping triangles.


Tune Parameters:

Pivot Detection: Adjust leftBars and rightBars (e.g., 3-5 for 1H, 5-10 for 4H) to optimize pivot detection. Enable debug_pivots to verify pivots.
Scalping: Set min_wave_move (1.5-3.0) and breakout_window (3-5 bars) based on asset volatility. Disable volume_confirm if signals are too sparse.
Trend: Configure trend_ema_len (100-200) for trend alignment.


Interpret Signals:

Pivot Triangles: Small red triangles (above bars) for pivot highs, green triangles (below bars) for pivot lows.
Scalping Triangles: Larger green triangles (below bars) for buy signals, red triangles (above bars) for sell signals.
Labels: Green "BUY" and red "SELL" labels confirm trades, purple labels show predictions with confidence.
Debugging: Enable debug_scalp to see "Scalp Buy"/"Scalp Sell" labels, and debug_pivots to verify pivot detection.


Backtesting:

Use TradingView’s strategy tester to evaluate signal frequency and accuracy.
Optimize atr_mult, tp1_rr, tp2_rr, and trail_atr_mult for your asset.




Example Scenario

Chart: 1H BTC/USD, October 27, 2025, 4:51 PM EDT
Pattern: Bullish 12345 completes, ABC correction ends at $65,000 (Wave C high).
Signals:

Pivot triangles: Small green triangle at Wave C low, small red triangle at Wave B high.
Scalping signal: Price breaks above $65,000, triggering long_ok. A large green triangle appears below the bar, with a "BUY" label.
Prediction: Purple label shows entry at $65,200, exit at $67,800 (1.618 Fibonacci), confidence 82%.


Action:

Long at $65,200, SL at $64,500 (Wave 4), TP1 at $66,000, TP2 at $67,800 or trailing.


Justification: Breakout above Wave C, confirmed by EMA, RSI, trend EMA, and volume. Triangles confirm pivot and signal points.