# EWO (Elliot Wave Oscilator)

• NahuelPatricioRodriguez

#### NahuelPatricioRodriguez

##### New member
Hi,
¿is it possible to add this bands, and change color from this line?

SIMPLE

CUSTOM (color of this line and band)

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#### Saylarr

##### Member
Hi, could you solve it?

Hola, pudista resolverlo?

#### horserider

##### Well-known member
VIP
@NahuelPatricioRodriguez
Code:
``````# Elliot Wave Oscillator with bands
#Horserider 5/17/2020

declare lower;

input price = hl2;
input HistoType = {default STD, ROC};
input SmoothLength = 5;

def valueDiff;
def value;
def showBands;
switch (HistoType) {
case STD:
value = double.nan;
valueDiff = (Average(price, 5) - Average(price, 35));
showBands = 1;
case ROC:
# ROC is smoothed with a SMA
value = (Average(price, 10) - Average(price, 70));
valueDiff = Average(value - value[1], SmoothLength);
showBands = 0;
}

# --- start Breakout Bands logic ---
#
# AdvanceGetOscillator Breakout Bands logic ported
# from [codebase.mql4.com]
# and [fxcodebase.com]...

def coeff_num = 2;
def coeff_denom = 39;

def barNum = if IsNaN( close ) then Double.NaN else barNumber();
def coeff = coeff_num / ( coeff_denom + 1 );
def diff = ValueDiff;

rec _upLine = if barNum == 1 then
if diff >= 0 then
diff * coeff + diff * ( 1 - Coeff )
else
0
else
if diff >= 0 then
diff * coeff + _upLine[1] * ( 1 - Coeff )
else
_upLine[1];
rec _dnLine = if barNum == 1 then
if diff < 0 then
diff * coeff + diff * ( 1 - Coeff )
else
0
else
if diff < 0 then
diff * coeff + _dnLine[1] * ( 1 - Coeff )
else
_dnLine[1];

plot UpLine = if showBands then _upLine else double.nan;
plot DownLine = if showBands then _dnLine else double.nan;

UpLine.SetDefaultColor(GetColor(9));
UpLine.SetLineWeight(2);
DownLine.SetDefaultColor(GetColor(9));
DownLine.SetLineWeight(2);

# --- end Breakout Band logic ---
plot ZeroLine = 0;
ZeroLine.SetDefaultColor(GetColor(7));
plot Osc = valueDiff;
plot UpSignal = if Diff crosses above ZeroLine then ZeroLine else Double.NaN;
plot DownSignal = if Diff crosses below ZeroLine then ZeroLine else Double.NaN;

Osc.SetDefaultColor(GetColor(5));
Osc.SetPaintingStrategy(PaintingStrategy.HISTOGRAM);
Osc.SetLineWeight(3);
Osc.DefineColor("Positive and Up", Color.GREEN);
Osc.DefineColor("Positive and Down", Color.DARK_GREEN);
Osc.DefineColor("Negative and Down", Color.RED);
Osc.DefineColor("Negative and Up", Color.DARK_RED);
Osc.AssignValueColor(if Osc >= 0 then if Osc > Osc[1] then Osc.color("Positive and Up") else Osc.color("Positive and Down") else if Osc < Osc[1] then Osc.color("Negative and Down") else Osc.color("Negative and Up"));``````

#### NahuelPatricioRodriguez

##### New member
@horserider Thank you so much!

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#### Saylarr

##### Member
@NahuelPatricioRodriguez how can I contact you? I have a couple of things that comment on those indicators and images, I don't know how to send private messages through this forum. So if you want we contact you through another means and we chat.

Cheers

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#### Nkpacheco10

##### New member
NAhuel, those indicators that mark the Elliott waves, how did you get them? Thanks and regards.

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#### Derek

##### New member
Hello @NahuelPatricioRodriguez! Would you share the script that make the counting of waves? That is great! Thank you in advance.

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#### cfw238

##### New member
I like those elliot wave count

M

#### michaelhebler

##### New member
Hi @NahuelPatricioRodriguez - I have been searching for an EW indicator just like the final pic in your original post. Are you willing to share the code?

V

#### vensonom

##### New member
@horserider Thank you so much!

I have the W5T Elliott indicator and it cant handle the sub-waves like in your screenshot. Where was this indicator purchased from ? i would like to buy it.

#### NahuelPatricioRodriguez

##### New member
I have the W5T Elliott indicator and it cant handle the sub-waves like in your screenshot. Where was this indicator purchased from ? i would like to buy it.

make by me - no plugin.

#### Derek

##### New member
Hi @NahuelPatricioRodriguez, how do you do for plot the waves in the first and second images? Is that a private development? Can you share with us? Thx!

##### New member

make by me - no plugin.
Hello Can you share the script or if you have an online tip jar provide the code to tippers?

T

VIP

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#### Rosalyn

##### New member
@NahuelPatricioRodriguez hello, do u mind sharing your EW indicator? been looking for one and urs fits perfectly... many thx

#### NahuelPatricioRodriguez

##### New member

Hi, is it possible to add a screen depending on the depth of the wave? or similar to the photo (Lines red - green) or draw style in the wave (pink and white). It is a good idea to optimize the day trading or scalping indicator

Spoiler

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#### Luke

##### New member
Hello, I need help with elliot's oscillator, I wanted to ask you if you could help me so that when the oscillator breaks the exhaust band it becomes a stronger color than the previous one, as attached in the image.
Thank you recently shared the indicator here.