Two presets and price targets
One variant checks sequences using closing prices; the other uses highs and lows. Comparison windows and some point-relocation rules also differ, so these are two distinct calculation variants. On the right, choose both directions or one, hide ? and +, and enable connecting lines or price references. The D prefix is optional; the numbers remain.
Price references. Once the required points exist, the tool calculates a level for the fifth move. A horizontal dashed line and price label display it; a reached level remains with ✓. It is a calculated reference to compare with later prices, not a guaranteed price or deadline. If it falls outside the chart, restore automatic price fitting or widen the visible range.
The calculated fifth-move reference (W5) depends on the selected variant. Here the level around 9.99 becomes known on 2026-02-19, before point 5 is confirmed. A target, an extremum and its confirmation are three different facts. The line has a limited chart length; this is not a promised deadline for price to reach it.
History and display settings
The calculation uses the loaded history of completed bars; zoom changes the visible window. An unfinished bar is not added to complete a tidy pattern. A different provider, history depth or preset can change the result. If history is insufficient, check loading first; an absent next wave alone is not an error.
The illustrations use a readable historical window. The workspace calculates the full loaded history; zoom only changes the visible window.
Point date versus confirmation date
In the saved example, point 1 belongs to 2026-01-29 but is confirmed only on 2026-02-03. Point 3 belongs to 2026-03-13 and is confirmed on 2026-03-23; point 5 belongs to 2026-03-30 and is confirmed on 2026-04-08. When reviewing a decision at a particular date, use only information already known at that time.
| Point | Extremum date | Confirmation date |
|---|---|---|
| 1 | 2026-01-29 | 2026-02-03 |
| 3 | 2026-03-13 | 2026-03-23 |
| 5 | 2026-03-30 | 2026-04-08 |
Practice: check your understanding on one chart
Keep one symbol, timeframe and history. Record the selected preset and visible target. When comparing another preset, record changed rules and target separately. Do not calculate trade returns from a touched target without predefined trade conditions.
What the completed observation should contain
An SW Wave Structure target belongs to its selected preset and is not a promise of future price.
Primary sources
Sources explain the mechanics and limitations; the editorial examples use invented numbers rather than market quotations.
Your next practical step
Open the linked help page, repeat the steps on one instrument, and record the symbol, timeframe, profile and observation date so that the result can be checked again.
Open the first-chart instructions ↗