Wolfe Waves Signals [NXT2017] by the rules of Bill Wolfe

6 feb 2018

Script to find entries of Wolfe Wave Point 5 for Pinescript in Tradingview

Dear followers,

in my search for a good Wolfe Wave screener I havn't success. This is why I wrote my own script for find good Wolfe Waves entries for Pinescript in Tradingview.

The script calculate the relationsship between wave 4 (point 4 to point 5) and wave 3 (point 3 and point 4) in combination with the relationsship of wave 3 and wave 2 (point 2 to point 3). The first relationship should like the rules be 127.2 % and the second relationship 68.2% - but not every pattern join in this rule. This is why I give a little room to move around this values.

In one hand the higher the green peak, the longer and stronger the wave for buysetup and on the other hand the lower the red Peak, the longer and stronger the wave for sellsetup.

My skills didn't sufficient for show the lines of Wolfe Waves. If you have a modified version with lines with EPA and ETA Points, so please be so Kind to inform me.

Of course, not every signal is a good signal, so look to the rules of Bill Wolfe and on a perfect pattern be active.

At least I wish everyone a good tradingtime.