request Wave Indicator or Elliott Wave
Anyone have Elliott Wave indicator for MT4.0
I just saw people using it .
Because I know that the ADVANCED GET 8.0 has this function.
MT4.0 is also supposed to.
I am not sure that it is indicators you need (attached).
do u have elliot wave oscillator explantion. if u have it then please give me sir
It might be
thank you .
Elliott Wave Indicator Set
I have started looking into trading the elliott wave however i would like an indicator set for MT4.
Here is some formulas that i found on another site:
I am hoping somebody could help me to add some Elliot Wave indicators to my MT studies.
1. Elliot Wave oscillator (EWO)
Parameters: hasn’t parameter.
Calculation: EWO (i) = MVA((high + low) / 2, 5) - MVA((high + low) / 2,
2. Elliot Wave trend (EWTREND)
Parameters: N - number of periods, TR - trigger.
Calculation: EWTREND (i) = f (last(i), high(i), low(i), TR), where f is
high(i) = max (last(j)), low(i) = min (last(j)), j = ,
last(j) = MVA((high + low) / 2, 5) - MVA((high + low) / 2, 35).
3. Elliot Wave number (EWN)
Calculation: EWN (i) = f (last(i), high(i), low(i), TR), where f is
There are three indicator sets and the trading rules are as follows:
1. EWN is a 'new' 3 or 5
2. EWTrend is a 0 or 1
3. EWO is positive
These 3 things must happen simultaneously
1.EWN is a 'new' 4
2.EWTrend is a 0 or -1
3.EWO is negative
1.EWO goes from - to + or from + to -
This should work in any time frame : 15 mins seem to work very well, but try other ones e.g. 5 mins and 1 hr.
Thanx for any and all help,
I moved this thread to the "Suggestions for Trading Systems" area to find it easy.
vars trend(0), osc(0);
osc = EWO
if osc = @highest(osc,period) and trend = 0 then trend = 1
if osc = @lowest(osc-period) and trend = 0 then trend = -1
if @lowest(osc,period) < 0 and trend = -1 and osc < and trend -1 and
osc > -1*trigger*lowest(osc,period) then trend = -1
vice versa for highest
this might help
Ok lets see if this helps