Elliott Wave Auto + Fib Targets + Scalper Strategy (Fixed) by shravanreddy0808
By shravanreddy0808
Performance Metrics
- Author: shravanreddy0808
- Symbol: AMEX:SPY
- Timeframe: 15 minutes
- Net P&L: +2,188.07 USD (+0.22%)
- Win Rate: 100.0%
- Max Drawdown: 1,344.70 USD (0.13%)
- Total Trades: 1
Description
Sep 27// Elliott Wave Auto + Fib Targets + Scalper Strategy//// Fixed by expert trader:// - Replaced table with label-based visualization to avoid 'Column 2 is out of table bounds' error.// - Uses label.new to display buy/sell signal counts in top-right corner, mimicking table layout.// - Fixed array.sum() error: Replaced invalid range-based array.sum() with custom sum_array_range() function.// - Removed barstate usage to fix 'Undeclared identifier barstate' error.// - Replaced barstate.isconfirmed with true (process every bar).// - Replaced barstate.isfirstconfirmed with bar_index == 0 (first bar).// - Replaced strategy.alert with label.new for long/short entry signals (buy/sell markers).// - Fixed array index out-of-bounds: Protected array.get() calls with size checks.// - Fixed pyramiding: Set constant pyramiding=4 (max 5 entries); use allow_pyramiding to limit entries.// - Fixed default_qty_value: Set constant default_qty_value=100.0; use entry_size_pct to scale qty.// - Replaced alertcondition with labels for Elliott Wave patterns.// - Fixed partial exits: 50% at TP1 with fixed SL, 50% at TP2 with fixed SL or trailing.// - Fixed Elliott Wave pivot indexing for alternating H/L check.// - Ensured proper position sizing and exit logic.Oct 27Release NotesHow to Use the Updated ScriptApply to Chart:Add the script to TradingView on your desired timeframe (e.g., 1H, 4H BTC/USD).Ensure showPivShapes and showScalpSignals are enabled to display pivot and scalping triangles.Tune Parameters:Pivot Detection: Adjust leftBars and rightBars (e.g., 3-5 for 1H, 5-10 for 4H) to optimize pivot detection. Enable debug_pivots to verify pivots.Scalping: Set min_wave_move (1.5-3.0) and breakout_window (3-5 bars) based on asset volatility. Disable volume_confirm if signals are too sparse.Trend: Configure trend_ema_len (100-200) for trend alignment.Interpret Signals:Pivot Triangles: Small red triangles (above bars) for pivot highs, green triangles (below bars) for pivot lows.Scalping Triangles: Larger green triangles (below bars) for buy signals, red triangles (above bars) for sell signals.Labels: Green "BUY" and red "SELL" labels confirm trades, purple labels show predictions with confidence.Debugging: Enable debug_scalp to see "Scalp Buy"/"Scalp Sell" labels, and debug_pivots to verify pivot detection.Backtesting:Use TradingView’s strategy tester to evaluate signal frequency and accuracy.Optimize atr_mult, tp1_rr, tp2_rr, and trail_atr_mult for your asset.Example ScenarioChart: 1H BTC/USD, October 27, 2025, 4:51 PM EDTPattern: Bullish 12345 completes, ABC correction ends at $65,000 (Wave C high).Signals:Pivot triangles: Small green triangle at Wave C low, small red triangle at Wave B high.Scalping signal: Price breaks above $65,000, triggering long_ok. A large green triangle appears below the bar, with a "BUY" label.Prediction: Purple label shows entry at $65,200, exit at $67,800 (1.618 Fibonacci), confidence 82%.Action:Long at $65,200, SL at $64,500 (Wave 4), TP1 at $66,000, TP2 at $67,800 or trailing.Justification: Breakout above Wave C, confirmed by EMA, RSI, trend EMA, and volume. Triangles confirm pivot and signal points.