# Wolfe Wave Detector Wolfe Wave Detector is an indicator on [Vela](https://vela.luxalgo.com/chart), our next-generation charting platform, written in Pine Script®. Finds five-point Wolfe Wave patterns automatically by scanning multiple swing lengths at once, drawing the XABCD structure and projecting the target line where a reversal is anticipated. Symmetry controls filter out poorly formed channels, dots mark every target hit, and a dashboard tallies patterns detected against targets reached. - Indicator in the LuxAlgo Library, by LuxAlgo, published Jun 27, 2024. - Access: free. - Concepts: [Wolfe Waves](https://www.luxalgo.com/library/concept/wolfe-waves/) (primary), [Rising/falling Wedge](https://www.luxalgo.com/library/concept/rising-falling-wedge/), [Zigzag Structure](https://www.luxalgo.com/library/concept/zigzag-structure/) - Open on Vela: https://vela.luxalgo.com/chart?pineScriptCodeId=cmpwn7eya00agvhsg4aa3g0hi - Page: https://www.luxalgo.com/library/indicator/wolfe-wave-detector/ The **Wolfe Wave Detector** finds five-segment Wolfe Wave patterns automatically and projects their target line, sparing reversal traders the work of mapping swing points by hand. The pattern's converging channel shares its geometry with the [rising or falling wedge](https://www.luxalgo.com/library/concept/rising-falling-wedge/): points X through D outline the structure, and the target (point E) is projected by extending the line from X through C. A multiple-swing engine scans many swing lengths at once, catching small and large formations alike, while a dashboard tallies patterns found and targets reached. ## How to Trade the Wolfe Wave Detector? - **Price reaching point D**: the pattern calls for a reversal from D toward the projected target line at E. - **Target line hits**: a dot prints when price crosses the line, green when the target sits above D, red when below. - **Extended target line**: held up to 50 further bars, it often keeps serving as support or resistance after the pattern completes. - **Progression view**: watch patterns form early with the Full or Partial display, or show completed structures only. A textbook [Wolfe Wave](https://www.luxalgo.com/library/concept/wolfe-waves/) is symmetrical: same-direction lines mirror each other's angles and the channel stays near-parallel. Tighter tolerances yield cleaner but rarer patterns; a larger Margin can delay validation. ## Wolfe Wave Detector Settings - **Minimum Swing Length**: the shortest swing used in detection. - **Maximum Swing Length**: the longest swing considered; a wider range captures more diverse formations. - **Margin**: symmetry tolerance around the wave. Higher is more permissive. - **Angle**: tolerance for channel symmetry. - **Extend Target Line**: prolongs the target line up to 50 bars before contact. - **Show Progression**: Full, Partial or None, setting how much of a forming pattern to reveal. - **Calculated Bars**: limits calculation depth to keep the script fast. - Style inputs cover bullish/bearish toggles, colors, dot size, and the dashboard's visibility, location and text size. ## Frequently Asked Questions ### What does the dashboard track? It counts how many Wolfe Waves the detector has identified and how many of their targets were reached. Toggle bullish patterns off and it re-centers on bearish patterns exclusively. ### How is this different from harmonic patterns? Both build from labeled swing points, but harmonics validate legs against Fibonacci ratios while Wolfe Waves lean on channel symmetry. For ratio-based structures, see [Harmonic Pattern Detection](https://www.luxalgo.com/library/indicator/harmonic-pattern-detection/). ### How do I get the Wolfe Wave Detector? Free, from this very page. It is one of LuxAlgo's original free releases, and it can be run and tested in Quant, our coding agent, straight from the library. You can also copy the source code from this page and run it anywhere Pine Script® runs. ## Related indicators - [Delta ZigZag](https://www.luxalgo.com/library/indicator/delta-zigzag/) (Zigzag Structure): markdown at https://www.luxalgo.com/library/indicator/delta-zigzag.md - [Price Simplification](https://www.luxalgo.com/library/indicator/price-simplification/) (Zigzag Structure): markdown at https://www.luxalgo.com/library/indicator/price-simplification.md - [N Bar Reversal Detector](https://www.luxalgo.com/library/indicator/n-bar-reversal-detector/) (Key Reversal): markdown at https://www.luxalgo.com/library/indicator/n-bar-reversal-detector.md - [Bart Pattern](https://www.luxalgo.com/library/indicator/bart-pattern/) (Chart & Candlestick Patterns): markdown at https://www.luxalgo.com/library/indicator/bart-pattern.md - [Head & Shoulders](https://www.luxalgo.com/library/indicator/head-and-shoulders/) (Chart & Candlestick Patterns): markdown at https://www.luxalgo.com/library/indicator/head-and-shoulders.md - [Island Reversal](https://www.luxalgo.com/library/indicator/island-reversal/) (Chart & Candlestick Patterns): markdown at https://www.luxalgo.com/library/indicator/island-reversal.md - [McDonald's Pattern](https://www.luxalgo.com/library/indicator/mcdonalds-pattern/) (Double Top/bottom): markdown at https://www.luxalgo.com/library/indicator/mcdonalds-pattern.md - [Diamond Top/bottom](https://www.luxalgo.com/library/indicator/diamond-top-bottom/) (Chart & Candlestick Patterns): markdown at https://www.luxalgo.com/library/indicator/diamond-top-bottom.md --- Source: https://www.luxalgo.com/library/indicator/wolfe-wave-detector/ (LuxAlgo Library). Free to use with attribution: https://www.luxalgo.com/library/license/