In technical analysis, it is a naturally occurring trading pattern present in all financial markets. The pattern is composed of five waves showing supply and demand and a fight towards an equilibrium price. These patterns can develop over short- and long-term time frames such as minutes or weeks and are used to predict where a price is heading and when it will get there.
Sample Gail Chart with Wolfe Wave Shown above.
Note : The this afl code is desinged for version 5.3 and if you have version 5.2 then change the first line of amibroker code from Version(5.30); to Version(5.20); Modify the AFL code accordingly if you have different version of AFL code.