This indicator detects equal highs and lows by comparing prices within user-defined left and right bars using a tolerance percentage. It plots horizontal lines on the price chart for equal highs in one color and lows in another. A screener allows input of mult
Indicator · Pine Script v5 · On the chart
Elliott Wave [LuxAlgo]
This overlay indicator draws Elliott Wave structure on the price chart.
GitHub stars2on the repository
Pine versionv5runs as is
Lines of code521
Settings16inputs
LicenceNone stated
Last update5 months ago24 May 2026
Add It to Your TradingView Chart
- 1Copy the scriptPress Copy script above. It reads the file straight from GitHub.
- 2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
- 3Paste over the templateCreate a new indicator, select all of the template text and paste. Press Save and give it a name.
- 4Add it to the chartPress Add to chart, then adjust the settings with the gear icon next to its name.
Source Code
The code stays on GitHub. The author has not published this script under an open licence, so ForexR does not show its code. Copy script reads the file straight from GitHub into your clipboard, so you can still try it on your own chart. Ask the author before reusing the code anywhere else.
Overview
Elliott Wave [LuxAlgo] builds up to three independent ZigZag swings from user-selected high and low sources, then connects impulse legs labeled one through five and corrective legs labeled A through C. Four adjustable Fibonacci ratios define retracement levels drawn with the waves. Each ZigZag can be enabled, resized, and recolored, and the underlying ZigZag can be shown or hidden. It is an indicator only and does not place trades or set stops.
- Three configurable ZigZag lengths
- Impulse and corrective wave labels
- Four adjustable Fibonacci levels
- Custom high and low sources
- Optional ZigZag display
Details
Published by
Z-Dux on GitHub
Type
Indicator, Pine Script v5
Draws
On the price chart
Category
Support & resistance, Trend
Markets
Any symbol
Timeframes
Any timeframe
Risk Notes
No repainting, lookahead or stacked entries were found in its code or README. That says nothing about how well it works: test it first.
Repository
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| src_high | string | high | src_high |
| src_low | string | low | src_low |
| zz_enabled1 | bool | true | zz_enabled1 |
| 1 Length | int | 4 | zz_length1 |
| zz_color1 | color | color.red | zz_color1 |
| zz_enabled2 | bool | true | zz_enabled2 |
| 2 Length | int | 8 | zz_length2 |
| zz_color2 | color | color.blue | zz_color2 |
| zz_enabled3 | bool | true | zz_enabled3 |
| 3 Length | int | 16 | zz_length3 |
| zz_color3 | color | color.white | zz_color3 |
| level 1 | float | 0.500 | fib_500 |
Show all 16 settings
| Setting | Type | Default | Variable |
|---|---|---|---|
| level 2 | float | 0.618 | fib_618 |
| level 3 | float | 0.764 | fib_764 |
| level 4 | float | 0.854 | fib_854 |
| show_zz | bool | false | show_zz |
Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.
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