Flat
By LuxAlgoMar 12, 2026
Flat is an indicator on Vela, our next-generation charting platform, written in Pine Script®.
Flat detects the sideways member of the Elliott corrective family from confirmed swings and names its variant, the first faithful build of the flat correction as written. When an A-B-C sequence prints in which wave B retraces at least the minimum of wave A and the sub-swing counts fit the 3-3-5 blueprint, the build draws the three legs with A, B and C labels, boxes the pattern zone, and reports the measured ratios: Regular when B does not exceed A's start and C ends beyond A's extreme, Expanded when B exceeds A's start and C travels beyond A's extreme, Running when B exceeds A's start but C falls short of A's extreme.
How to Trade the Flat?
- Setup projection: a deep three-wave B confirms ahead of C, so wave C targets project at the configured extensions of A alongside the wave A start and extreme levels; both setup directions are alerted.
- Wave B trap: B poking past the start of wave A fires a dedicated warning: that marginal new extreme may be a flat's B wave rather than trend continuation.
- Completion: each variant carries its own alert; the running flat is conventionally the most telling, C having failed to reach A's extreme.
Flat Settings
- Swing Length (default 10): pivot length for the A-B-C swings; larger looks for flats at a higher degree.
- Sub-Wave Length (default 3): smaller pivot length counting interior sub-swings, kept below the swing length.
- Sub-Wave Validation (default Loose): Loose rejects waves A or B that subdivide like clean fives; Strict additionally demands visible threes in A and a five-like C; Off relies on the price rules alone.
- Wave B Min Retracement (default 0.9) and Wave B Max Retracement (default 1.382): the accepted B window, with Expanded Threshold (default 1) splitting regular from expanded and running behavior.
- Wave C Targets (defaults 1 and 1.618) with Project Wave C Targets (on).
- Style: Wave Labels (on) and Show Swings (on).
Frequently Asked Questions
Free to use
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