Bodhi EW EA Community Version

Automatic Elliott Wave trading robot for MetaTrader 5

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No manual analysis. No complex setup. Rule-validated Wave 3 and Wave 5 entries — free, forever.

BODHI Elliott Wave EA Free is a fully automated Expert Advisor that detects Elliott Wave setups in real time and places trades on any symbol or timeframe — no indicator subscriptions, no external dependencies, no license restrictions.

The EA identifies two high-probability entry points: the end of Wave 2 (entry into Wave 3, the strongest and most extended wave) and the end of Wave 4 (entry into Wave 5). Each entry requires a Fibonacci retracement into the validated zone plus a reversal candle confirmation — meaning the EA only acts on clean, rule-compliant setups.

·         Step 1 — Pivot Detection: A native ZigZag algorithm identifies swing highs and lows directly from price data. No external indicator file required.

·         Step 2 — Wave Structure Validation: The EA checks alternation, Fibonacci ratios, and Elliott Wave rules (Wave 3 not shortest, Wave 4 no-overlap). Invalid structures are silently skipped.

·         Step 3 — Fibonacci Zone Check: Current price is tested against the Wave 2 zone (50–68% retrace) or Wave 4 zone (38.2–61.8% retrace).

·         Step 4 — Reversal Candle Gate: A bullish/bearish pin bar, engulfing candle, or directional close must appear on the last closed bar before entry is taken.

·         Step 5 — Trade Execution: Risk is fixed at 0.1% of equity. SL = 1.5 × ATR from entry. TP = projected Elliott target or minimum R:R × SL distance, whichever is further.

·         Wave 2 → 3 entry: Enter at the end of Wave 2. Wave 3 is typically 1.618× Wave 1 — the most powerful move in any impulse.

·         Wave 4 → 5 entry: Enter at the end of Wave 4. Clean Fibonacci retracement (38.2–61.8%) with reversal candle required.

·         Native ZigZag: Pure MQL5 swing detection — zero external files, zero setup.

·         ATR-based SL: Stop loss placed 1.5 × ATR from entry. Adapts to current volatility.

·         Minimum R:R filter: Trade is skipped if the Elliott target does not meet the configured minimum risk:reward (default 2.0:1).

·         Total drawdown guard: EA halts and closes all positions if total account drawdown reaches the configured limit (default 9%). Safe for funded account challenges.

·         Weekend auto-close: All positions closed before Friday session end.

·         Info panel: Real-time dashboard — pattern, direction, last signal, open positions, drawdown %, session status.