Elliott Waves Indicator MT5

5

Elliott Waves Indicator MetaTrader 5

The Elliott Waves Indicator, based on Elliott Wave Theory, analyzes price movements by counting waves. This tool is available on the MetaTrader 5 platform, helping traders identify both impulsive and corrective waves within the Elliott Wave framework.

By examining price behavior, the Elliott Waves Indicator becomes a strategic asset for traders, detecting impulsive 12345 waves, combination patterns such as ABCDE, and corrective ABC waves—visually representing them on the chart with lines.

«Indicator Installation & User Guide»

MT5 Indicator Installation | Elliott Waves Indicator MT4 | ALL Products By TradingFinderLab | Best MT5 Indicator: Refined Order Block Indicator for MT5 | Best MT5 Utility: Trade Assistant Expert TF MT5 | TP & SL Tool: Risk Reward Ratio Calculator RRR MT5 | Prop Firm Protector: Trade Assist Prop Firm Plus TF Expert MT5 | Money Management + DrawDown Protector: Trade Panel Prop Firm Drawdawn Limiter Pro MT5


Elliott Waves Indicator Specifications

Outlined below are the main features of the Elliott Waves Indicator:

Category

Elliott Wave — Pivot Points & Fractals — Price Action

Platform

MetaTrader 5

Skill Level

Advanced

Indicator Type

Reversal — Leading — Non-Redrawing

Timeframe

Multi-Timeframe

Trading Style

Scalping — Day Trading — Intraday Trading

Markets

Forex — Stocks — Indices


Indicator at a Glance

The Elliott Waves Indicator is a high-level tool built for traders focused on identifying Elliott Waves within price charts. Through price analysis and wave recognition, it highlights potential reversal zones and trend developments. With this indicator, traders can conduct refined chart analysis and locate optimal trade setups.


Uptrend Example

On the 30-minute USD/JPY chart, the indicator detected an ABCDE formation marking a reversal from a downtrend to an uptrend. Following the completion of Wave E, traders may open long positions to benefit from the anticipated upward move.


Downtrend Example

On the 15-minute USD/CAD chart, the indicator spotted a corrective ABC pattern, hinting at a potential downward trend. Once Wave C concludes, traders can consider entering short positions to take advantage of the bearish momentum.


Elliott Waves Indicator Settings

Users can personalize the indicator using the following parameters:

• Long Depth: Controls the detection sensitivity for long waves.
• Short Depth: Controls the detection sensitivity for short waves.
• Show Lines: Enables or disables the display of wave lines.
• ABC Label Color: Sets the label color for ABC waves.
• ABCDE Label Color: Sets the label color for ABCDE waves.
• 12345 Label Color: Sets the label color for impulsive 12345 waves.
• Shift: Alters the offset for wave detection.


Conclusion

The Elliott Waves Indicator is a precision tool tailored for traders who apply Elliott Wave Theory in their analysis. It effectively identifies Elliott Wave structures and simplifies wave recognition by plotting lines and labeling 12345 sequences, ABCDE combinations, and ABC corrections directly on the chart.


Reviews 4
Kenneth Raggs
78
Kenneth Raggs 2025.09.26 22:53 
 

HELPS A LOT

Benjamin Afedzie
3142
Benjamin Afedzie 2025.07.02 22:51 
 

solid product

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Download the Laguerre RSI Indicator for MT5    The Laguerre RSI indicator is a powerful trend-following oscillator designed for MetaTrader 5. It can function independently as a trading tool or serve as a supporting confirmation indicator within broader strategies. Unlike the traditional RSI, it significantly reduces signal lag, particularly in extended time frames. Additionally, it employs a gamma (Γ) filter that minimizes price fluctuations, leading to fewer misleading signals. «Indicator In
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Modified Fair Value Gap (FVG) Indicator for MT5 The Modified Fair Value Gap (Modified FVG-iFVG) indicator is a sophisticated and efficient tool designed for ICT and Smart Money traders, optimized for the MetaTrader 5 (MT5) platform. This indicator detects and marks market imbalance areas (FVG), highlighting key supply and demand zones. Bullish FVG zones are displayed in green, while bearish FVG zones appear in brown. As the price revisits these levels, the indicator dynamically updates by progr
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Rejection Block Indicator and Void MT4 The Rejection Block Indicator is a highly efficient tool for spotting potential market turning points in MetaTrader 4. This indicator automatically identifies zones which price experiences rejection. The mechanism of this indicator relies on candlestick wicks; a long wick near the top price and a short wick near the bottom price signal potential reversal points. Once detected, the Rejection Blocks are automatically marked on the chart. Bullish rejection ar
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Kenneth Raggs
78
Kenneth Raggs 2025.09.26 22:53 
 

HELPS A LOT

Sebastian Schmidt
1338
Sebastian Schmidt 2025.07.26 07:07 
 

User didn't leave any comment to the rating

Yassou Kalimera
712
Yassou Kalimera 2025.07.11 17:45 
 

User didn't leave any comment to the rating

Benjamin Afedzie
3142
Benjamin Afedzie 2025.07.02 22:51 
 

solid product

Eda Kaya
283688
Reply from developer Eda Kaya 2025.07.08 14:01
my pleasure.
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