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Elliott Wave Counter

Is a Multi-purpose tool for analyzing Elliott Waves for MetaTrader 4 trading platform.

You can:

  • Single-click to count wave according pattern and degree.
  • Single-click for generation Andrews Pitchfork.
  • Single-click for generation target Fibonacci levels (depending price and time) uniquely configured for each wave type.
  • Single-click for generation Fibonacci wave channels uniquely configured for each wave type.

Followings are main features.


1. You can use one chart for all currencies

  • You can use the same window to see different charts.
  • the indicator automatically hides objects from other currencies and show it again when you come back to the first one.


2. Symbols

  • Set the type of pattern that you want to count.
  • Set the degree.
  • Set the color (this will help you to differentiate between alternate wave counts) .
  • Move your mouse when ready ,just click "Draw" shortcut button.
  • If you want to change the position of a wave or select all labels, just click "Select"shortcut button to select/deselect the wave symbols on the chart.
  • after that you can press "Bind" Shortcut for automatic binding of wave symbols to the High and Low of the price bar, observing the hierarchy of wave levels on all time periods.
  • Deleting the last wave Just click on one of the wave's patterns and then click the "DeleteLastLabel"shortcut button. The last pattern of your wave will be deleted. Click the button as many times as you need to reach the desired wave and delete it.


3. Fibonacci Channel

  • Key to Show/hide Fibonacci channels when a wave label is highlighted.
  • You can Add your desired Channel Levels.
  • You can change the color Of both Channel Lines and Channel Levels.
  • You can change the style Of both Channel Lines and Channel Levels.
  • You can change the width Of both Channel Lines and Channel Levels.


4. Fibonacci Time Zones

  • Key to Show/hide Fibonacci time zones when a wave label is highlighted.
  • you can change the color of Fibonacci time zones Lines.
  • you can change the style of Fibonacci time zones Lines.
  • you can change the width of Fibonacci time zones Lines.


5. Fibonacci Target Areas

  • Key to Show/hide target areas by Fibonacci levels of the next wave ,when the wave symbol is highlighted.
  • You can change the color of target areas Levels .
  • You can change the style of target areas Levels .
  • You can change the width of target areas Levels .
  • You can add your desired Channel Levels.


6. Andrews Pitchfork

  • Key to Show/hide Pitchfork when a wave label is highlighted.
  • You can change the color of both Pitchfork Lines and Pitchfork Levels.
  • You can change the style Of both Pitchfork Lines and Pitchfork Levels.
  • You can change the width Of both Pitchfork Lines and Pitchfork Levels.
  • You can add your desired Pitchfork Levels.


7. Other Options

  • Key to Show Pointer.
  • Key to Hide/show detailed text description of wave symbols.
  • Key to Delete all objects created using the tool.

Feel free to give your opinion about the tool, and please inform me of any improvements needed to be done.

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Version 1.21 2022.01.14
Fix Bugs
Version 1.20 2016.04.20
Add Delete All Object Button.
Version 1.10 2016.03.01
Bugs Fixed.