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Elliott Wave Analysis

Initially, Elliott wave analysis is designed to simplify and increase the objectivity of graph analysis using the Elliott method. Probably, this indicator can be successfully used in trading without knowing the Elliott method.
The indicator is based on a supertrend. Supertrends are built in accordance with the Fibonacci grid. The degree of waves in the indicator settings corresponds to a 1-hour timeframe - this is the main mode of working with the indicator. I also recommend using weekly (for evaluating large movements) and 1-minute timeframes.
When using other timeframes, the baseline of the indicator will correspond to:
1 min-Submicro
5 minutes-Micro
15 minutes-Subminuette
1 hour-Minuette
4 hours-Minute
Day-Minor
Week-Intermediate
Month-Primary

Those who are well versed in the Elliott method can see that the waves fall on the indicator almost perfectly. To demonstrate this, I put the markup on the graph
Versionshinweise: Added 3 levels of trading signals. The entry is carried out on a correction, counting on the resumption of the trend. The color of the signal corresponds to this trend.
Versionshinweise: Added a pair of Minuette signals. Added filters for all signals: rejected signals on too fast and too slow trend
Versionshinweise: Filtering is now optional
Versionshinweise: The filter has been changed. Now only signals that are very far from the old trend line are rejected
Versionshinweise: All blue signals directed against the red trend have been removed
Versionshinweise: -- The visualization of signals has been changed

-- The indicator colors are now tied to the degrees of the waves, regardless of the timeframe. For example, for Line 1(the fastest indicator line) for different timeframes, the colors (by default) will be as follows:
1 min-Submicro blue
5 minutes-Micro green
15 minutes-Subminuette red
1 hour-Minuette blue
4 hours-Minute green
Day-Minor red
Week-Intermediate blue
Month-Primary green
Versionshinweise: -- The script is adapted for version 5 of the Pine editor
-- Added line 0, which participates in the formation of sell1/buy1 signals. By default, it is not displayed
-- Lines 4 and 5 are now not displayed by default for ease of perception
Open-source Skript

Ganz im Spirit von TradingView hat der Autor dieses Skripts es als Open-Source veröffentlicht, damit Trader es besser verstehen und überprüfen können. Herzlichen Glückwunsch an den Autor! Sie können es kostenlos verwenden, aber die Wiederverwendung dieses Codes in einer Veröffentlichung unterliegt den Hausregeln. Sie können es als Favoriten auswählen, um es in einem Chart zu verwenden.

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