ON Trade Elliot Wave Manual

This indicator has been designed to integrate with the Elliott Wave theory, providing two distinct methods of operation:

1. Automatic Work: In this mode, the indicator operates autonomously by detecting all five motive waves on the chart according to Elliott Wave theory. It offers predictions and identifies potential reversal zones. Additionally, it has the capability to generate alerts and push messages to notify traders of significant developments. This automated functionality streamlines the process of identifying and analyzing Elliott Wave patterns.

2. Manual Work: This option is tailored for traders who prefer a manual approach to Elliott Wave theory. It empowers users to draw waves using nine different grades. Each grade can be defined individually by adjusting the drawn lines on the chart after they have appeared. This feature simplifies the process of manual wave drawing, making it more efficient. It's important to note that all drawing data will be saved in the platform's data folder for future reference.

Parameters:

• Name: The name of the indicator.
• Use_System_Visuals: Enables or disables the indicator theme to match the overall appearance of the trading platform.
• Explain_Comment: Allows you to enable or disable explanatory comments for wave numbering, aiding in understanding the identified waves.
• Show_Last_Candle_Counter: Enables or disables the candle time counter, providing information about the time remaining for the current candlestick to close.
• Candle_Counter_Color: The color of the candle time counter text.
• Basic_Wave_Color: The main color used to represent waves.
• Bullish_Wave_Color: The color assigned to bullish 5-motive waves when detected.
• Bearish_Wave_Color: The color assigned to bearish 5-motive waves when detected.
• Ending_Diagonal_Color: The color for ending diagonal motive waves when detected.
• Leading_Diagonal_Color: The color for leading diagonal motive waves when detected.
• Correction_Color: The color for corrective waves.
• Proportion_Color: The color for wave proportions.
• PRZs_Color: The color for potential reversal zones.
• Font_Color: The color for text elements.
• Font_Size: The size of the displayed texts.
• Show_Targets: Enables or disables the display of targets in automatic mode.
• Send_Alert: Enables or disables the alert function.
• Send_Notification: Enables or disables the notification function.
• Send_Email: Enables or disables the email function.
• History_Bars: Specifies the maximum number of historical bars to be analyzed with the automatic function.

By combining both automatic and manual modes, this indicator offers traders a versatile tool for Elliott Wave analysis, catering to different preferences and trading approaches. It streamlines the process of identifying wave patterns and assists traders in making informed trading decisions. As with any tool, it's important to practice responsible risk management and consider combining the indicator's insights with other forms of analysis for comprehensive trading strategies.