OPEN-SOURCE SCRIPT
Wave Velocity Directional PRO
📊 Wave Velocity Directional PRO
Wave Velocity Directional PRO is a manual structural analysis tool designed to compare the strength and sharpness of two selected price waves.
The indicator allows you to manually select:
Wave 1 (start → end)
Wave 2 (start → end)
It then automatically calculates:
Directional Range
Velocity (price movement per bar)
Velocity Ratio (Wave 1 / Wave 2)
Structural Status evaluation
🔍 Directional Range Logic
The range is calculated directionally to capture the full movement dimension of the wave:
For bullish waves:
Range = High_end − Low_start
For bearish waves:
Range = High_start − Low_end
This ensures the full wave amplitude is measured from its true origin to its completion.
⚡ Velocity
Velocity = Range / Number of Bars
Velocity measures how aggressively price moved per bar.
Higher velocity = sharper, more impulsive movement.
📈 Velocity Ratio
Ratio = Velocity_Wave1 / Velocity_Wave2
This helps evaluate structural quality:
> 1.5 → Strong impulse
1.2–1.5 → Healthy structure
1–1.2 → Weak
< 1 → Structural warning
🎯 Use Cases
Elliott Wave validation
Impulse vs correction comparison
Structural asymmetry analysis
1–2 continuation filtering
Manual wave strength benchmarking
⚠️ Notes
This is a manual analysis tool.
Designed for structural comparison.
Does not generate trading signals.
Works independently of chart scaling or zoom.
Wave Velocity Directional PRO is a manual structural analysis tool designed to compare the strength and sharpness of two selected price waves.
The indicator allows you to manually select:
Wave 1 (start → end)
Wave 2 (start → end)
It then automatically calculates:
Directional Range
Velocity (price movement per bar)
Velocity Ratio (Wave 1 / Wave 2)
Structural Status evaluation
🔍 Directional Range Logic
The range is calculated directionally to capture the full movement dimension of the wave:
For bullish waves:
Range = High_end − Low_start
For bearish waves:
Range = High_start − Low_end
This ensures the full wave amplitude is measured from its true origin to its completion.
⚡ Velocity
Velocity = Range / Number of Bars
Velocity measures how aggressively price moved per bar.
Higher velocity = sharper, more impulsive movement.
📈 Velocity Ratio
Ratio = Velocity_Wave1 / Velocity_Wave2
This helps evaluate structural quality:
> 1.5 → Strong impulse
1.2–1.5 → Healthy structure
1–1.2 → Weak
< 1 → Structural warning
🎯 Use Cases
Elliott Wave validation
Impulse vs correction comparison
Structural asymmetry analysis
1–2 continuation filtering
Manual wave strength benchmarking
⚠️ Notes
This is a manual analysis tool.
Designed for structural comparison.
Does not generate trading signals.
Works independently of chart scaling or zoom.
Script open-source
Nello spirito di TradingView, l'autore di questo script lo ha reso open source, in modo che i trader possano esaminarne e verificarne la funzionalità. Complimenti all'autore! Sebbene sia possibile utilizzarlo gratuitamente, ricordiamo che la ripubblicazione del codice è soggetta al nostro Regolamento.
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.
Script open-source
Nello spirito di TradingView, l'autore di questo script lo ha reso open source, in modo che i trader possano esaminarne e verificarne la funzionalità. Complimenti all'autore! Sebbene sia possibile utilizzarlo gratuitamente, ricordiamo che la ripubblicazione del codice è soggetta al nostro Regolamento.
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.