Tool
Elliott Wave Projection
calc.elliott_wave_projection
Inputs
The wave 1 leg of the impulse, as a zigzag leg (its start and end pivots). Wire it from a zigzag pattern detector that labels the impulse legs.
The wave 3 leg, as a zigzag leg. Together with wave 1 it sets the net 1–3 distance used by the w5_net mode.
The wave 4 leg, as a zigzag leg. Its end pivot is the anchor that wave-5 targets are measured from.
The wave A leg of a correction, as a zigzag leg. The c_by_type mode projects wave C from this leg’s length.
Outputs
A bundle of projected target levels — the price (or prices) where the forecast wave should end, ready to wire into a level read or an order’s take-profit.
Elliott Wave Projection takes the legs you have already counted in an impulse and forecasts where the next wave should end. Feed it waves 1, 3 and 4 to project the top (or bottom) of wave 5, or feed it wave A to project where a corrective wave C should finish.
How it works
Elliott patterns repeat in Fibonacci proportions, so the tool measures the price length of the legs you wire in and stretches a chosen ratio off the most recent pivot. The `mode` picker decides what is being projected — wave 5 by equality with wave 1, wave 5 by a net Fibonacci ratio of waves 1 through 3, or wave C sized from the corrective shape. `net_ratio` selects which Fibonacci multiples to draw for the net-ratio mode, and `corrective_type` tells the c_by_type mode whether to size the correction like a sharp zigzag or a shallow flat.
Modes
Mode options
Projects wave 5 to the same price length as wave 1, measured off the end of wave 4.
When to use: The simplest impulse target — use it when wave 3 was the extended wave, which usually leaves wave 5 roughly equal to wave 1.
Sizes wave 5 as a Fibonacci ratio of the net distance travelled across waves 1 through 3.
When to use: Pick this when wave 3 was not the obvious extension — projecting off the combined 1–3 move gives a more realistic wave-5 target.
Projects the end of corrective wave C, sizing it from wave A according to the chosen corrective shape.
When to use: Use it after an impulse completes and an ABC correction begins — wire wave A to forecast where wave C should bottom (or top).
Net ratio options
Draws the 0.618 multiple of the net 1–3 move — a shallow wave-5 target.
When to use: Include 0.618 when you expect a weak, truncated wave 5 that falls short of the prior swing.
Draws the 1.0 multiple — wave 5 travels the full net distance of waves 1 through 3.
When to use: Include 1.0 for the textbook case where wave 5 equals the net 1–3 advance.
Draws the 1.618 multiple — an extended wave 5 that overshoots the net 1–3 move.
When to use: Include 1.618 when momentum is strong and you anticipate a blow-off, extended fifth wave.
Corrective type options
Sizes wave C like a sharp 5-3-5 zigzag, where C extends well beyond the end of wave A.
When to use: Pick zigzag when the correction is steep and impulsive — a fast, deep pullback against the trend.
Sizes wave C like a shallow 3-3-5 flat, where C ends near the level of wave A.
When to use: Pick flat when the correction is sideways and choppy — a shallow consolidation rather than a deep retrace.
Configuration
What to project: w5_equality sets wave 5 equal to wave 1, w5_net sizes wave 5 by a Fibonacci ratio of the net waves 1–3, and c_by_type projects corrective wave C from wave A using the corrective shape.
Which Fibonacci multiples of the net 1–3 move to draw in w5_net mode — any combination of 0.618 (shallow), 1.0 (equal) and 1.618 (extended). Each selected ratio adds one projected wave-5 target level.
How c_by_type sizes wave C — 'zigzag' for a sharp correction where C runs far past wave A, or 'flat' for a shallow correction where C finishes near wave A.
Connects to
Examples
- Wire labelled waves 1, 3 and 4 in w5_net mode with net_ratio {1.0, 1.618} to plot two candidate wave-5 tops and place a take-profit at the nearer one.
- In c_by_type mode with corrective_type 'zigzag', wire wave A to forecast where a sharp wave C should bottom and time a counter-trend entry there.
Common mistakes
- Wiring waves in the wrong order — wave 5 is measured off the end of wave 4, so swapping wave_3 and wave_4 throws the projection off completely.
- Treating a single projected level as a guaranteed turning point — Elliott targets are zones to watch, not exact reversal prices, so confirm with price action before acting.