Elliott Wave with Customizable Visualization and Toggle

evvelsi gün

1. Key User Inputs

a. Setting Wave 1 Start and High Points
- Wave 1 Start (Low Point): Enter the starting point (low point) of the first wave.
- Default: 10000.

- Wave 1 High (Previous High): Enter the high point (end point) of the first wave.
- Default: 11000.

b. Setting Targets and Retracement Ratios for Each Wave
- Wave 1 Target: Select the target ratio for Wave 1.
- Options: 1.0, 1.272, 1.414, 1.618, 2.0.
- Default: 1.618.

- Wave 2 Retrace: Select the retracement ratio for Wave 2.
- Options: 0.236, 0.382, 0.5, 0.618, 0.786.
- Default: 0.618.

- Wave 3 Target: Select the target ratio for Wave 3.
- Options: 1.0, 1.272, 1.414, 1.618, 2.0.
- Default: 1.618.

- Wave 4 Retrace: Select the retracement ratio for Wave 4.
- Options: 0.236, 0.382, 0.5, 0.618.
- Default: 0.382.

- Wave 5 Target: Select the target ratio for Wave 5.
- Options: 0.618, 1.0, 1.272, 1.414, 1.618.
- Default: 1.0.

c. Setting Colors and Styles for Each Wave
You can customize the color and line style of each wave:

- Wave 1 Color: Color of Wave 1 (Default: Green).
- Wave 2 Color: Color of Wave 2 (Default: Red).
- Wave 3 Color: Color of Wave 3 (Default: Blue).
- Wave 4 Color: Color of Wave 4 (Default: Purple).
- Wave 5 Color: Color of Wave 5 (Default: Orange).

- Wave 1 Line Style: Select the line style for Wave 1 (Options: Solid, Dotted, Dashed).
- Default: Solid.

- The same settings can be applied to the remaining waves.

d. Setting Wave Display Options
- You can toggle the visibility of specific waves:
- Example: Set Show Wave 1 to false to hide Wave 1 from the chart.
- Default: true (All waves are displayed).

2. Outputs and Visualization

Wave Target Lines
- The target price and retracement levels for each wave are displayed as horizontal lines on the chart.
- Selected ratios (Fibonacci ratios) are highlighted based on the user-defined style.

Labels
- Labels next to the target lines display the target price and Fibonacci ratio.
- Example: Wave 1 (1.618): 11236.54.

3. Key Calculations and Wave Explanations

a. Wave 1
- Length: Wave 1 High - Wave 1 Start.
- Target: The target price is calculated based on the selected ratio (Wave 1 Target).
- Display: The target line and label are displayed starting from Wave 1 Start.

b. Wave 2
- Retracement Length: Wave 1 Target - Wave 1 Start.
- Retracement Target: The retracement price is calculated based on the selected ratio (Wave 2 Retrace).
- Display: The retracement line and label are displayed starting from Wave 1 Target.

c. Wave 3
- Length: Same as the length of Wave 1.
- Target: The target price is calculated based on the selected ratio (Wave 3 Target).
- Display: The target line and label are displayed starting from Wave 1 Target.

d. Wave 4
- Retracement Length: Wave 3 Target - Wave 1 Target.
- Retracement Target: The retracement price is calculated based on the selected ratio (Wave 4 Retrace).
- Display: The retracement line and label are displayed starting from Wave 3 Target.

e. Wave 5
- Length: Same as the length of Wave 3.
- Target: The target price is calculated based on the selected ratio (Wave 5 Target).
- Display: The target line and label are displayed starting from Wave 3 Target.

4. Usage Examples

Trend Analysis
- Visualize the target price and retracement levels of each wave to understand upward or downward trends.

Determining Entry/Exit Points
- Plan entry and exit strategies by observing when target prices reach specific Fibonacci ratios.

Customization
- Enhance visual convenience by adjusting chart styles and colors to suit your preferences.

5. Notes and Precautions

Input Validation
- Ensure that the Wave 1 Start and Wave 1 High values match actual price ranges to achieve accurate results.

Market Conditions
- Elliott Wave Theory is a predictive tool and may differ from actual market movements.

Risk Management
- Use the results as a reference and always incorporate risk management strategies when making investment decisions.