MEET THE INDICATOR
The meaning behind the numbers.
Student Wyckoff Wave 50 is designed for detailed study of a wave you select. You mark the price turns, and the indicator connects neighboring points and displays measurements of individual moves. This lets you compare rises and declines by volume, distance and time while preserving your own choice of structure on the chart.
- From 2 to 50 active points, up to 49 moves
- Volume, price change and section duration
- Manual anchors and automatic measurement adjustment
- Independent comparisons of upward and downward moves
You choose the wave markings
First set the number of points and the measures you need in the settings. The calculation uses the first points up to the selected count: from two to 50 points, giving up to 49 moves between neighboring anchors. Ten points are active by default. To place them again after applying the settings, use Reset points in TradingView's indicator menu.
All defined points can have numbers, including spare points that are not yet included in the calculation. A visible number therefore does not always mean an active measurement. The manual line reflects your choice of structure; the tool does not claim that it is the only correct interpretation and does not perform automatic Elliott wave counting.
What is measured between neighboring points
Each move can display volume, price change and duration. Price is shown as a percentage or in price points, and time in minutes, hours or days. Divisors and rounding make large values easier to read. Regular numeric rows can be enabled independently of comparison arrows.
Volume relates to the selected source and section boundaries. In the current version, the start of the calculation section is included and the end is excluded. You can use volume from the current chart's elements or data from regular underlying bars, with settings for timeframe, session and depth. The sum depends on the available history and provider; missing data are shown as an unavailable measurement rather than replaced with zero.
The manual wave and calculation anchors
Manual mode measures the selected anchors. With automatic adjustment, the indicator searches for a suitable high or low near each point. The search areas of neighboring points are bounded so that the search does not freely move into an adjacent move; for an ambiguous section, you can set the point type explicitly.
Lines, numbers and editable handles remain on your manual wave. Automatically found coordinates are used for measurements and shown in the explanations. While the right-hand search window is still forming, the point and results that depend on it are preliminary and can change. A change to the calculation anchor should not be mistaken for an unnoticed move of the manual point you selected.
Compare rises and declines separately
For upward and downward moves, select the measure and mode independently: largest, smallest or both. You can compare volume, time or the size of the price move. Comparisons are performed before figures are shortened and rounded. When values are equal, the first qualifying move from the left is selected.
Up to four comparison arrows are available in total. Their sides and offsets are adjusted separately; coinciding markers can be combined when placed identically. Preliminary measurements already take part in comparisons, so the maximum or minimum of the whole group can change. If the required measure is unavailable for even one move in the group, the corresponding comparison is not presented as a final result.
A readable chart and data checks
You can change the colors and sizes of volume, price and time rows, the rising and falling lines, the spacing between labels, and the positions of individual point numbers. Moving a label changes its position on screen, not the measured section itself. Tooltips help you see calculated prices, boundaries, the volume source, and the reason for an unavailable value.
On Renko and Point and Figure, charts built from price elements, the current chart type is taken into account. Its construction settings are not entered again inside the indicator. Several elements sharing the same time can make duration or anchoring ambiguous; these cases are accompanied by an explanation. Start with a few clear sections and available volume, then increase the number of points and comparisons.
What you receive
Access to the indicator in your TradingView account for your chosen subscription period, calculation and display settings, and email support. Source code is not included in the subscription. You need your own TradingView account; any TradingView features or paid plan required for your chosen way of working are paid for separately.
This is a custom STUDENT WYCKOFF tool for manually selecting and comparing price moves. It measures the construction specified by the user and does not replace it with ready-made automatic wave labels.
