Elliott Wave Pro X
- Indicators
- Version: 1.0
- Activations: 20
Elliott Wave Pro X
Professional Automatic Elliott Wave Analysis for MetaTrader 5
Elliott Wave Pro X is an advanced automatic Elliott Wave indicator designed for traders who want to identify high-probability market structures with precision and confidence. The indicator continuously analyzes price action and applies Elliott Wave rules and guidelines to detect impulse waves, corrective patterns, diagonals, triangles, and complex market corrections.
The indicator helps traders understand the current market cycle, anticipate future wave development, and identify potential trading opportunities before major price movements occur.
Key Features
✅ Automatic Elliott Wave Counting
✅ Identifies Impulse Waves (1-2-3-4-5)
✅ Detects Corrective Patterns (A-B-C)
✅ Leading & Ending Diagonals
✅ Contracting and Expanding Triangles
✅ Zigzags, Flats, Double and Triple Corrections
✅ Fibonacci Targets and Projections
✅ Automatic Entry Points
✅ Protective Stop Loss Levels
✅ Profit Target Levels
✅ Channel Projection
✅ Multi-Degree Wave Analysis
How to Read the Indicator
The indicator automatically places wave labels directly on the chart.
Impulse Waves
1 - 2 - 3 - 4 - 5
These labels represent the five-wave trending structure.
Wave 1 = Initial trend move
Wave 2 = Corrective retracement
Wave 3 = Strongest and most powerful trend wave
Wave 4 = Secondary correction
Wave 5 = Final trend movement
When a complete 1-2-3-4-5 sequence appears, the indicator expects a corrective structure to follow.
Corrective Waves
A - B - C
These labels identify market corrections.
Wave A = First correction against the previous trend
Wave B = Temporary retracement
Wave C = Final correction completion
These patterns help traders identify potential trend continuation or reversal zones.
Complex Corrections
The indicator may display:
W - X - Y
or
W - X - Y - XX - Z
These labels represent advanced corrective structures often found in volatile markets.
Triangle Patterns
A - B - C - D - E
The indicator identifies:
Contracting Triangles
Expanding Triangles
Running Triangles
Triangles often signal market consolidation before a strong breakout.
Lower Degree Waves
The indicator can also display:
i - ii - iii - iv - v
These are sub-waves within larger Elliott Wave structures.
This provides additional detail for traders who prefer multi-timeframe wave analysis.
Fibonacci Targets
Elliott Wave Pro X automatically calculates Fibonacci projection levels based on completed wave structures.
The indicator displays:
38.2% Retracement
50.0% Retracement
61.8% Retracement
100% Projection
161.8% Projection
261.8% Projection
These levels help traders identify likely support, resistance, and profit-taking zones.
Entry, Stop Loss and Target Levels
The indicator automatically provides:
Entry Point
Suggested area where a new wave may begin.
Protective Stop
A logical risk-management level based on Elliott Wave rules.
Profit Targets
Potential price objectives calculated using wave relationships and Fibonacci measurements.
Price Direction Forecast
By analyzing completed and developing wave structures, Elliott Wave Pro X estimates the most probable direction of the next wave.
The indicator helps traders answer:
Is the trend likely to continue?
Is a correction developing?
Has a major wave completed?
Where could the next wave target be?
Where may potential reversals occur?
While no indicator can predict future prices with absolute certainty, Elliott Wave Pro X uses a rule-based Elliott Wave engine combined with Fibonacci analysis and pattern validation to provide highly accurate wave recognition and market projections.
Why Choose Elliott Wave Pro X?
Elliott Wave Pro X was built for traders who need more than simple technical indicators. It combines automatic wave counting, pattern recognition, Fibonacci analysis, target projection, and risk management tools into a single professional trading solution.
Whether you are a swing trader, day trader, or position trader, Elliott Wave Pro X helps you understand market structure, identify high-probability opportunities, and trade with greater confidence.
