# Wave Degree Hierarchy Wave Degree Hierarchy is an indicator on [Vela](https://vela.luxalgo.com/chart), our next-generation charting platform, written in Pine Script®. Builds up to four nested Elliott degrees from one 8-bar base zigzag, deriving each higher degree recursively from the pivots below and labeling swings in each degree's own notation. Proportion checks flag corrections too small or too large for their degree, a dashboard tracks per-degree legs, corrections and invalidation levels, and eleven alerts cover the structure. - Indicator in the LuxAlgo Library, by LuxAlgo, published Jul 4, 2026. - Access: free. - Concepts: [Wave Degree Hierarchy](https://www.luxalgo.com/library/concept/wave-degree-hierarchy/) (primary) - Open on Vela: https://vela.luxalgo.com/chart?pineScriptCodeId=n55gnpm88kqdt7l56m2r56mw - Page: https://www.luxalgo.com/library/indicator/wave-degree-hierarchy/ **Wave Degree Hierarchy** draws the nesting Elliott analysis rests on: a base zigzag and up to three degrees derived recursively above it, each pivot surviving upward only when it dominates its same-type neighbors one degree below, the [wave degree hierarchy](https://www.luxalgo.com/library/concept/wave-degree-hierarchy/) made a chart object for the first time. Each degree gets its ladder name, notation pivot labels, a dotted developing leg and a dashed invalidation level at its prior extreme. ## How to Trade the Wave Degree Hierarchy? - **Trade with the reference degree**: the dashboard's context row compares the execution-degree leg with the leg one or more degrees above, tinting the background on request while they oppose. - **Invalidation breaks**: each degree's dashed level is the prior pivot extreme whose break kills that degree's current-leg count, each with its own alert. - **Disproportion flags**: corrections retracing under the minimum proportion get an ellipsis; those traveling further or lasting longer than the wave they correct get a warning mark. Notation is positional bookkeeping inside the parent leg, not an impulse count. ## Wave Degree Hierarchy Settings - **Base Pivot Length** (default 8): pivot half-length of the lowest degree, from which all others derive. - **Degrees Displayed** (default 3): 2 to 4 nested degrees; higher ones confirm later by construction. - **Lowest Degree Name** (default Minute): ladder name of the base; the rest walk upward, clamped at Grand Supercycle. - **Min Correction Proportion (Price)** (default 0.236), **Max Correction Proportion (Price)** (default 1) and **Max Correction Proportion (Time)** (default 1): the proportion discipline. - **Trend Reference (Degrees Above)** (default 1) and **Tint Counter-Trend Background** (off): the context read. - Display: **Show Dashboard** (on), **Pivot Labels** (Notation), **Flag Disproportion On Labels**, **Developing Legs** and **Invalidation Levels** (all on), **Drawn Swings Per Degree** (default 50). ## Frequently Asked Questions ### How does this pair with the Elliott hard rules? The [Elliott Hard Rules](https://www.luxalgo.com/library/indicator/elliott-hard-rules/) build tests the three inviolable rules on one swing series. This build supplies the discipline's other half: the hard rules bind only inside one degree, so it maintains the degrees and pins an invalidation level on each. ### Do the higher degrees repaint? The latest pivot at any degree can extend until an opposite pivot locks it, and higher degrees derive from lower-degree structure, so they confirm later. Locked pivots never move. ### Which Lowest Degree Name should I pick? Degree is structural, not chronological, so choose the name matching your own top-down count. The geometry is identical either way. Only names and notation shift. ## Related indicators - [Elliott Wave](https://www.luxalgo.com/library/indicator/elliott-wave/) (Impulse): markdown at https://www.luxalgo.com/library/indicator/elliott-wave.md - [Truncation](https://www.luxalgo.com/library/indicator/truncation/) (Elliott & Harmonics): markdown at https://www.luxalgo.com/library/indicator/truncation.md - [Elliott Hard Rules](https://www.luxalgo.com/library/indicator/elliott-hard-rules/) (Elliott & Harmonics): markdown at https://www.luxalgo.com/library/indicator/elliott-hard-rules.md - [Triangle](https://www.luxalgo.com/library/indicator/triangle/) (Elliott & Harmonics): markdown at https://www.luxalgo.com/library/indicator/triangle.md - [Diagonals](https://www.luxalgo.com/library/indicator/diagonals/) (Elliott & Harmonics): markdown at https://www.luxalgo.com/library/indicator/diagonals.md - [Motive Wave](https://www.luxalgo.com/library/indicator/motive-wave/) (Elliott & Harmonics): markdown at https://www.luxalgo.com/library/indicator/motive-wave.md - [Wave Extension](https://www.luxalgo.com/library/indicator/wave-extension/) (Elliott & Harmonics): markdown at https://www.luxalgo.com/library/indicator/wave-extension.md - [NeoWave Logic](https://www.luxalgo.com/library/indicator/neowave-logic/) (Elliott & Harmonics): markdown at https://www.luxalgo.com/library/indicator/neowave-logic.md --- Source: https://www.luxalgo.com/library/indicator/wave-degree-hierarchy/ (LuxAlgo Library). Free to use with attribution: https://www.luxalgo.com/library/license/