ElliottWaveMaker is a tool for labelling of the Elliott Waves. The waves are labelled manually.
- Automatic bar binding at all timeframes.
- The waves can be labelled using 2 ways: drag and drop from the Labels panel and using the mouse click on the bar.
- Automatic arranging of the labels at all timeframes according to waves levels seniority.
- Possibility to increase/decrease the wave degree of the selected labels.
- Manual control of the number of wave levels shown on a chart.
- Wave levels custom labelling styles.
- The waves can be labelled using a mouse and a keyboard.
- Q - show previous degree of wave label on the Labels panel.
- W - show next degree of wave label on the Labels panel.
- A - decrease wave degree of selected labels.
- S - increase wave degree of selected labels.
- E - decrease the number of wave labels, shown at chart.
- R - increase the number of wave labels, shown at chart.
- Z - start labelling using the mouse/go to the next label on Labels panel.
- X - finish labelling using the mouse.
- ESC - hide/show Labels panel.
- Select the label on Labels panel. Also it can be done using the "Z" key (keyboard selection of labels is cyclic).
- Specify the degree of the current wave using the mouse click.
- To finish labelling using the mouse, you need to unselect it on the Labels panel. Also it can be done by pressing the "X" key.
To select a group of labels you need to select some label on the chart and press the "Tab" key - all labels in the group will be selected. To unselect all the group labels you need to press the "Tab" key again.
Changing of the wave degrees for a group of labels can be done using the "A"/"S" keys after selection of group of the wave labels.
The addition of a label to group is done the following way: you need to select some label and create the new labels. The new labels are added to a group of the selected label.
Creation of custom labelling styles
At first start ElliottWaveMaker creates the file (EWM1.ewm) with description of Elliott Waves in data folder of the MetaTrader 5 client terminal. The line looks as follows:
SubMinuette, i, ii, iii, iv, v, a, b, c, d, e, w, x, y, xx, z, Times New Roman, 8, 15, 255, 140, 0;
- SubMinuette - name of the wave degree;
- i, ii, iii, iv, v, a, b, c, d, e, w, x, y, xx, z - description of wave peaks/bottoms;
- Times New Roman - font name;
- 8 - font size;
- 15 - font size in pixels;
- 255, 140, 0 - RGB color components.
Custom styles have the following requirements:
- The number of wave degrees (lines in the file) must be 12.
- The number of wave peaks must be 15.