/*[[
	Name := ew2
	Author := CONVERT BY ENG.AED AL NAIRAB .
	Link := http://www.nairab.com/
	Separate Window := Yes
	First Color := Blue
	First Draw Type := Line
	First Symbol := 217
	Use Second Data := No
	Second Color := Red
	Second Draw Type := Line
	Second Symbol := 218
]]*/
 
Variable : shift(0),i(0), mean(0), osc(0), wave(0), hiosc(-999), hiosc2(-999), hiprice(-999), 
      hiprice2(-999),hv(0); 
 Array:ET[900](0);     
SetLoopCount(0);
// loop from first bar to current bar (with shift=0)
For shift=Bars-1 Downto 0 Begin 
mean = (high[shift] + low[shift])/2;
hv = (high[shift] + low[shift])/2; 
for i=shift to shift+5 Begin
hv=max((high[i] + low[i])/2,hv);
end;
//Is the current wave sequence up or down? 
ET[shift] = iCustom("ew1",MODE_FIRST,shift);
osc=(iMAEx(5,MODE_SMA,0,PRICE_MEDIAN,shift)-iMAEx(35,MODE_SMA,0,PRICE_MEDIAN,shift)); 
//When the trend changes from down to up, label it wave 3 and save the current osc and price 
if (ET[shift] = 1 and ET[shift+1] = -1 and osc > 0 ) then 
       { 
        hiosc = osc; 
        hiprice = mean; 
        wave = 3; 
       }; 
//If wave 3 and the oscillator make new highs then save those values 
if wave = 3 then 
       {
        if mean > hiprice then hiprice = mean; 
        if osc > hiosc then hiosc = osc; 
       };
//Test for the beginning of wave 4 
        if (osc <= 0 and ET[shift] = 1) then wave = 4; 
        
//Test for the beginning of wave 5
if (wave = 4 and mean = hv and osc >= 0 )then
      { 
        wave = 5; 
        hiosc2 = osc; 
        hiprice2 = mean; 
      }; 
if wave = 5 then
       {
        if osc > hiosc2 then hiosc2 = osc; 
        if mean > hiprice2 then hiprice2 = mean; 
       };
//Test for wave 5 becoming wave 3 
if (wave = 5 and hiosc2 > hiosc and ET[shift] = 1) then 
      { 
        wave = 3; 
        hiosc = hiosc2; 
        hiprice = hiprice2; 
        hiosc2 = -999; 
        hiprice2 = -999; 
      }; 
//Identify a wave 3 down while in wave 5 
if (wave = 5 and ET[shift]= -1) then 
      { 
        wave = 3; 
        hiosc = -999; 
        hiprice = -999; 
        hiosc2 = -999; 
        hiprice2 = -999; 
      }; 



	SetIndexValue(shift, wave);
End;