OPEN-SOURCE SCRIPT
Katik Advanced Elliott Wave with ABCD and Corrected SL/TP
It performs the following functions:
Wave Identification: It detects peaks and troughs in the price data using pivot highs and lows over a specified wave length.
Wave Classification: It categorizes waves as either "Impulse" (strong price moves exceeding a threshold) or "Correction" (retracements within a threshold).
ABCD Points: It assigns specific price levels (wave A, B, C, D) for visualizing Elliott Wave patterns.
Stop Loss and Target: It calculates and displays stop loss and target levels based on the risk-to-reward ratio for both impulse (long) and correction (short) waves.
Wave Visualization: It draws lines connecting wave points (A to B, B to C, C to D) for a clear chart representation.
Dynamic Background: It changes the chart background to indicate impulse (green) or correction (red) wave conditions.
Trend Analysis: It includes moving averages (SMA-20 and SMA-50) to assist in identifying overall trends.
Labels: Labels are added to mark the peaks and troughs, aiding wave tracking.
Alerts: Custom alerts notify users of detected impulse or correction waves.
Customization: User inputs control thresholds, wave length, stop loss percentage, and target multiplier for flexibility.
Wave Identification: It detects peaks and troughs in the price data using pivot highs and lows over a specified wave length.
Wave Classification: It categorizes waves as either "Impulse" (strong price moves exceeding a threshold) or "Correction" (retracements within a threshold).
ABCD Points: It assigns specific price levels (wave A, B, C, D) for visualizing Elliott Wave patterns.
Stop Loss and Target: It calculates and displays stop loss and target levels based on the risk-to-reward ratio for both impulse (long) and correction (short) waves.
Wave Visualization: It draws lines connecting wave points (A to B, B to C, C to D) for a clear chart representation.
Dynamic Background: It changes the chart background to indicate impulse (green) or correction (red) wave conditions.
Trend Analysis: It includes moving averages (SMA-20 and SMA-50) to assist in identifying overall trends.
Labels: Labels are added to mark the peaks and troughs, aiding wave tracking.
Alerts: Custom alerts notify users of detected impulse or correction waves.
Customization: User inputs control thresholds, wave length, stop loss percentage, and target multiplier for flexibility.
Скрипт с открытым кодом
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