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ElliottWaveMaker is a tool for labelling of the Elliott Waves. The waves are labelled manually.

Features:

  • 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.
Keyboard commands:
  • 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.
Labelling of Elliott waves using the mouse:
  • 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;

where:

  1. SubMinuette - name of the wave degree;
  2. i, ii, iii, iv, v, a, b, c, d, e, w, x, y, xx, z - description of wave peaks/bottoms;
  3. Times New Roman - font name;
  4. 8 - font size;
  5. 15 - font size in pixels;
  6. 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.
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