# The W4 Misery

Waves are sort of becoming my field.

I have found some of the answers more than once, so my exercise is coming up with reminders for myslef.

A W4 can make its own support / resistance. Once returning within the volatility bracket, out of 3 fractals the furthest open / close would become this level.

``````int ucounter=0;
int dcounter=0;
double llevel;
double ulevel;

llevel=1000;
i=21;
while (i<100)
{
if (High[i]<iBands(symbol,0,30,2,0,PRICE_MEDIAN,MODE_UPPER,i)+50*Point && High[i+1]>iBands(symbol,0,30,2,0,PRICE_MEDIAN,MODE_UPPER,i+1)+50*Point) break;
i++;
}
if (i<100){
j=i;
while(j>0){
if (iFractals(symbol,0,MODE_LOWER,j)) {dcounter++; if (Close[j]<llevel) llevel=Close[j];}
if (dcounter>2) break;
j--;
}
}
if (j>0){
ObjectDelete( "Gent");
ObjectCreate( "Gent", OBJ_HLINE, 0,  Time[0], llevel);
ObjectSet("Gent", OBJPROP_COLOR, clrCyan );
ObjectSet("Gent", OBJPROP_WIDTH, 3 );
ObjectSet("Gent", OBJPROP_RAY_RIGHT, false );
ObjectSet("Gent", OBJPROP_STYLE, 1 );

deletetxt1("CLine");
ObjectCreate("CLine"+IntegerToString(j), OBJ_TEXT, 0, Time[j], llevel-20*Point);
ObjectSetText("CLine"+IntegerToString(j), " BUY: "+DoubleToStr(NormalizeDouble(llevel,4),4), 14, "Impact", White);
ObjectSet("CLine"+IntegerToString(j),OBJPROP_BACK,0);
ObjectCreate("CLineL"+IntegerToString(j), OBJ_TEXT, 0, Time[j], llevel-20*Point);
ObjectSetText("CLineL"+IntegerToString(j), "BUY: "+DoubleToStr(NormalizeDouble(llevel,4),4), 14, "Impact", Purple);
ObjectSet("CLineL"+IntegerToString(j),OBJPROP_BACK,0);

}``````

What is one of the rules of Elliott Wave? That a Wave 1 and a Wave 4 cannot overlap? Lunacy.

This is still a Wave 4 until the Overdrive band gets popped on the downside approving the down move as a Wave1 down.

A bit of New Wave is in order here