Elliott Wave Absolute Tradingview File
// Plot valid impulse zones validImpulse = isWave3Volume and not bearishDiv bgcolor(validImpulse ? color.new(color.green, 85) : na)
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// Condition 1: Impulse Wave Volume Confirmation (Wave 3 should have highest volume) volSMA = ta.sma(volume, 20) isWave3Volume = volume > volSMA * 1.5 elliott wave absolute tradingview
// Condition 2: No RSI divergence on Wave 5 (bearish divergence signals end) bearishDiv = close > ta.highest(close, 5)[1] and rsi < ta.highest(rsi, 5)[1] // Plot valid impulse zones validImpulse = isWave3Volume
// Auto-label potential wave 3 start if ta.cross(close, ta.sma(close, 50)) and validImpulse label.new(bar_index, low, "🚀 Potential Wave 3", color=color.green, textcolor=color.white) 20) isWave3Volume = volume >