Elliott Wave Structure Pro v2.0

Market Structure, Elliott Waves & Wave-3 Continuation Engine (Non-Repainting)

Elliott Wave Structure Pro v2.0 is an indicator designed to analyze market structure and Elliott Wave.
It combines confirmed swing analysis, market structure labeling, automatic Elliott impulse detection, and a dedicated Wave-2 to Wave-3 continuation, all built on a 100% non-repainting logic.

This tool is intended for traders who require clarity, confirmation, and rule-based execution, not subjective drawing.

Non-Repainting Swing Engine

All calculations are based on confirmed swing points using:

• Adjustable swing depth
• Minimum price deviation (pip filter)
• Confirmation bars

Once a swing is printed, it never moves, ensuring full historical reliability.

Market Structure Analysis

Automatically identifies and labels:

• Higher High (HH)
• Higher Low (HL)
• Lower High (LH)
• Lower Low (LL)

Optionally detects:

• BOS (Break of Structure)
• CHoCH (Change of Character)

This provides a clear structural framework to define trend context and filter trades.

Elliott Wave Impulse Detection

The indicator automatically detects complete 5-wave Elliott impulses in both directions:

• Bullish: L-H-L-H-L-H
• Bearish: H-L-H-L-H-L

It validates impulses using internal rules:

• Wave 3 strength
• Wave 2 and Wave 4 retracement logic
• Wave 5 proportionality

Each impulse is graded using a quality score (0–100) and labeled directly on the chart.

Wave-3 Continuation Setup (Primary Trading Module)

This is the core trading component of the indicator.

The system identifies Wave 0-1-2 continuation structures and prepares entries for Wave 3:

• Bullish: Low → High → Higher Low
• Bearish: High → Low → Lower High

Validation criteria include:

• Wave 2 retracement between 23.6% and 88.6%
• No invalidation through Wave 0
• Trend alignment using market structure
• Wave 1 strength relative to ATR

When validated, the indicator automatically draws:

• Wave 1 and Wave 2 structure
• Fibonacci entry zone (50–61.8%)
• Entry signal
• Stop Loss based on ATR beyond Wave 2
• Take Profit based on ATR projection
• Real-time Risk-Reward calculation

Each setup receives a quality grade (A+ to D).

Risk & Trade Management

• Stop Loss and Take Profit are calculated dynamically using ATR
• Risk-Reward ratio is displayed directly on the chart
• Designed to avoid over-extended or low-quality setups