- Added an input to change the source that is used to compare the candles to determine the waves, by default is the close, and the new option is the high/low (wicks).
- Modified the mode input, now can be seen bull and bear mode at same time (The overlap of the indicators will be fixed for the next release).
- Modified the color of the wave, by default blue is for bull and red for bear.
Let me know if you want me to add new features of this indicator, like wave extensions.
+ After a Wave C (not qualified as a 0), if there's not a 0 point the price afterwards and the price violates previous 5th wave, it will count as a wave 1, not 5.
As requested I will add projections of waves C and 5, in the future. For now just use fib projection tools. :P
will disappear, and the count must begin anew. (Similarly, if the low close of
TD D-Wave 4 closes below the low close of TD D-Wave 2, then TD D-Wave 2 will
shift to where TD D-Wave 4 would otherwise have been.) " - Tom Demark TD D-Wave by Jason Perl, page 77.
This was happening with wave A and C as well, so it was a bug.
Please, if you find a bug let me know.
Bearish: After wave A if a single candle breaks below wave 5 bottom, it gets labeled as wave 5 instead of wave b.
1. Show Projections (deactivated by default): Displays wave 3 and 5 projections.
2. Invalidate A Waves (deactivated by default): Invalidates wave a if it falls below wave 4 or wave 2 (this is not in the book, and is something that I totally made up, so don't use it, lol. Joke aside, I prefer it this way, but don't use it if you want to stick to what the book says, which is probably wise).
3. Highlight Invalidations (deactivated by default): It highlights invalidations of waves of both modes at any mode. I find it useful to figure out wether the bears or bulls are in control, hence which mode should be used.
4. Display At Inception (deactivated by default): Removes additional wave counts, for those that like the charts cleaner. It only shows the inception of each wave, not the top or bottom so keep this in mind because it may look awkward.
If you find a bug please let me know, thanks.
Modified the color by default of dwave counts for a tone that is easier to be seen.
Improved performance reducing redundant code, not it loads faster.
No verdadeiro espírito TradingView, o autor deste script o publicou com código aberto, para que os traders possam compreendê-lo e verificá-lo. Um brinde ao autor! Você pode usá-lo gratuitamente, mas a reutilização deste código em uma publicação é regida pelas Regras da Casa. Você pode favoritá-lo para utilizá-lo em um gráfico.