• Overview
  • Reviews (7)
  • Comments (52)
  • What's new

Elliott Wave Assistant

This is our newer and improved tool to assist you in the Elliott Wave counting, which represents an improved version of the ElliottWaveTool7pasos idea.

How to Use It

Start counting a new wave

  1. Start by clicking the "<>" button to indicate you want to deselect any previous wave (if applied).

  2. Set the pattern's type that you want to count (if you do not have our free Elliott Wave Font, you will see the letters instead of the pattern's icons in the Type's Section buttons: I=Impulse, D=Diagonal, Z=Zigzag, F=Flat, C=Combination or double zigzag). If needed, set the sub-pattern.

  3. Set the degree (and instance) by clicking the "+" or "-" panel's buttons.

  4. Set the color (this will help you to differentiate between alternate wave counts) by clicking the colored square button.

  5. The next wave you are going to place will be displayed in the "Add Wave" button (the bigger one on the panel). Click on it when ready.

  6. If the wave is starting the pattern, you will see the indication "Set Start" at the mouse cursor. Move your mouse to the desired bar where your wave starts. A red line will indicate the bar that you are pointing at. If you place your mouse below the bar the low of the bar will be used as price reference, if you place your pointer above the bar the high of it will be the price reference. Make a click when ready.

  7. After setting the wave's start point, the first wave will appear under the mouse. This could be 1, A or W depending upon the pattern that you are counting. In the same manner, set the point for placing the first wave. No matter how high or low you place your wave, the red line will be your wave's time reference, and the high (if you clicked above the bar) or the low (if you clicked below the bar) will be your wave's price reference. Price reference and time reference will be used to calculate the projections for the next waves.

  8. After you set your wave on the chart, you will immediately see the projections for the next wave. Also, the following wave for the actual wave count will be displayed in the "Add Wave" button.

You can pause a wave count and change to count other pattern by clicking the "<>" button any time you are not dragging a wave.

If you want to change the position of a wave, double click on it as if you were to select it and then the wave will stick to your mouse. And as if you were placing it for the first time, set its new position.

If you want to cancel the placing process, just press Esc key on your keyboard.

Once you placed in your chart an entire wave sequence for the selected pattern, the first wave again will be displayed. If you add this wave by clicking again the "Add Wave" button, a new pattern of the same kind will be counted. You can place up to 100 identical patterns with the very same color degree and instance.

Deleting the last wave

Just click on one of the pattern's waves, and then click the button with the white triangle pointing to the left: the last wave of your pattern will be deleted. Click the button as many times as you need to reach the desired wave and delete it.

Change characteristics with pattern waves already in place

To change any of the characteristics of a pattern, just click on any of its waves and then click on the new characteristic you want to apply. For example, if you want to change a 1, 2, 3, 4 impulsive pattern for a W, X, Y, X pattern, click on any of the waves, then click the combination button and then the desired kind of pattern (for combinations you can choose "DTZ" for double or triple zigzags or "DTC" for double or triple combinations). Once you click the button of your choice, you will see how the tool changes all the waves for the new right pattern and the new projections (if applied).

You can change color, degree and pattern at any time.

In the comments section, you will find the instructions for the following functions:

  • Deleting all waves from a pattern at once
  • Plot projections for the next wave
  • Hide patterns from actual and higher timeframes
  • Minimize the panel
  • Move the panel
  • Cleaning the chart
  • Switching fonts
  • Add/Remove special indications
  • How to understand the Instance Number

Elliott Wave Assistant is empowered with our exclusive PerfectLine. Please watch the demo video to see the tool working.

Kevinxo 2019.02.13 18:13 

Mas que exelente es algo elemental en el trading felicitaciones!

Israel OspinaLondoño
Israel OspinaLondoño 2017.03.16 15:30   

Hola, Sergio.

No encuentro las explicaciones que dice deben estar en Comentarios, como dice en Información general:

En la sección de comentarios, encontrará las instrucciones para las siguientes funciones:

 Eliminación de todas las ondas de un patrón a la vez

 Proyecciones de película para la próxima ola

 Ocultar patrones de plazos reales y superiores

 Reducir al mínimo el panel

 Mover el panel

 Limpieza de la tabla

 Cambio de fuentes

 Añadir / Eliminar indicaciones especiales

 ¿Cómo entender el número de instancia

gslao1711 2015.12.08 02:44   

I love this Elliot Wave Assistant Tool that I purchased 4 days ago! It is so easy to use, powerful and yet user friendly. I am learning how to count Elliot Waves and using MT4 platform. This tool saved me so much time and it also checks to see if there is overlap to ensure that I don't make the wrong count for a 5 wave sequence. It also provides Fibonacci as well. Sergio did a fantastic job! Anyone who is using the MT4 platform to count Elliot Wave should definitely purchase this tool. It is INVALUABLE in my opinion.

Happy Mans World
Happy Mans World 2015.09.25 22:18 

This is a piece of Art, yet, I'm not a fan of Elliot wave method, but the tool is great

Pochito2014 2015.05.08 02:13 

Este es el único producto de su tipo disponible para MT4, facilita mucho el conteo, eso ahorra mucho tiempo. Las proyecciones son también muy útiles y el autor siempre está disponible para soporte técnico. Recomiendo leer bien las instrucciones antes de empezar a usarlo.

gregah 2015.02.16 15:55 


Very useful tool for fast and manual labeling the charts. if you dont have much time and if you are active trader, then this may be the right indicator for you. I am using it regularly on a daily basis with my service.

amordemivida 2014.12.12 09:42 

Excelente herramienta, extremadamente eficiente y fácil de usar, en relación eficiencia/ precio resulta verdaderamente muy económica ya que ahorras muchísimo tiempo en la etiquetación de ondas en donde se encuentren ( Extemadamente precisa en todos los marcos temporales) además del tiempo ahorrado en actualizaciones o correcciones. La proyección de los canales y la proyección de objetivos o retrocesos para cada tipo de Onda o situación son GENIALES !! El apoyo técnico post - venta es Excelente !! La recomiendo con 5 Estrellas !

Version 1.60 2016.05.04
Removes the tooltip that sometimes interferes the vision when inserting or moving a wave label
Version 1.40 2015.02.03
Rectified a bug in converting impulse to Standard Flat
Version 1.30 2014.11.26
Added the new function to automatically delete waves where the start was signaled in the chart but then the user did not marked the first label. This avoids re-starting the count of a wave that is not supposed to exist.
Version 1.22 2014.10.31
- Minor bug fix.
- Resized some buttons to comply with new build 735 size buttons.