What D-Wave does
SW D-Wave identifies successive moves and retracements under predefined rules. Instead of freehand numbering, it checks the history and links qualifying points into a structure. This helps show where a move began, how its main sections developed and where opposing sections appeared.
0 identifies the starting point, 1–5 the main sequence of moves and returns, and A–B–C the following opposing part. A downward sequence is read in reverse to an upward one. A number identifies a position in the structure, rather than the strength of an instruction to buy or sell.
One sequence with a visible target
Follow 0 through 1–5 to A–B–C. Here the main direction is downward and the returns are upward. The dashed level is a separate price reference for the fifth move. It need not coincide with the actual fifth point and does not guarantee that price will reach it.
Sequential, Combo and other sequences are omitted to keep this study readable. In the workspace you can select directions, show additional points and connect them with lines.
A point’s date is not its confirmation date
A provisional point marked ? is still developing and may move. A + identifies the checking bar, often later than the actual high or low. Certain points may also be relocated as a structure develops under the selected rules.
For example, point 1 in this calculation belongs to the price of 29 January 2026 but was confirmed on 3 February. Point 3 belongs to 13 March and was confirmed on 23 March. A historical label beside an old bar does not mean that the label was already known then. Account for confirmation when studying what was knowable at the time.
How to interpret a price target
Once the required input points exist, a reference level for the fifth move is calculated. A dashed line and price label show it on the chart. A reached level remains with a ✓. Without a check mark, it is not marked as reached in the current calculation.
A target is a level to compare with price, not a promise of an outcome or deadline. If an enabled line is outside the scale, widen the visible price range. With manual scaling you can compress the bars; changing the panel’s height changes screen space, not the target’s value.
Exactly two presets
Perl · Close
Uses closing prices as its basis. The available version follows the adopted source indicator’s rules; placement depends on its checks.
DeMark · High/Low
Uses bar highs and lows. Different comparisons and checking lengths may produce different point placement.
Compare presets separately while retaining the same symbol, interval and history. Different numbering alone does not prove that one is wrong; first check which rules were selected.
Keep the wave display readable
Enable SW D-Wave
Choose one of the two presets and the direction you want to study. Begin with one understandable sequence.
Distinguish the labels
Numbers describe structure, ? marks a provisional point and + identifies a check. These can be displayed separately.
Check target visibility
Enable price targets and adjust the visible scale. Reached levels have a ✓.
Choose your labels
The D↑ / D↓ prefix is optional. Hide it while retaining the wave numbers and letters.
Relate the structure to subsequent price behaviour rather than expecting a neat diagram to complete inevitably. SW D-Wave is not unrestricted manual Elliott labelling and does not promise agreement with every other wave indicator.
Questions before you begin
Why can a point change?
Provisional points are still developing. Certain adopted rules also relocate individual points; account for confirmation dates when studying history.
Must price reach the target?
No. It is a calculated reference and may remain unreached.
Can I hide the D prefix?
Yes. Disable D↑ / D↓ while keeping the wave numbers.
Why do the presets differ?
They use different input prices and checks. Compare them on identical data with a clear purpose.
About these examples
The illustrations use the project’s accepted calculations and a history snapshot prepared on 13 October 2026. They are original chart drawings, not screenshots of customer accounts. A readable historical window is shown; the calculation uses the loaded history. Examples explain the tool, not its overall performance.
STUDENT WYCKOFF is an independent platform inspired by Tom DeMark’s publicly published work. These explanations describe the SW implementation on this site, not an official DeMark service.
Published DeMark descriptions · DeMark 9–13 overview · Full guide