HI BIG PLAYERS,
this script I wrote for an enquiry of a tradingview-user. It should represent the Filtered Waves idea from Arthur Merril and used by Linda Raschke.
It's similar like a visualization of Elliott Waves.
On YouTube title "MTA UK Chapter Presentation with Linda Raschke" between 34-36 minutes Linda Raschke shows the rules for her Filterd Waves.
Confluence Zone Calculation for Support in Bullish Tends
(or Restance in bearish ones)
Ever wondered why sometimes the zag of an Elliot Wave zigzag is stopped after just a few points?
(Like in the given Chart where I draw a line for a typical zag action.)
It has often to do with confluence Zones. Most people think that the lower edge of a narrow range,...