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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.

Reviews 8
Juan Carlos
Juan Carlos 2020.11.26 17:31 

Excelente herramienta para contar ondas. Se hace muy fácil y lo de que tengas las proyecciones es una pasada.

Kevinxo 2019.02.13 18:13 

Mas que exelente es algo elemental en el trading felicitaciones!

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

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⭐️⭐️⭐️⭐️⭐️ You want to become a constantly profitable 5-star forex trader? ⭐️⭐️⭐️⭐️⭐️ 1.  Read the basic description of our simple trading  system   &  and it's major strategy update in 2020   2.   Send a screenshot of your purchase  to get your personal invitation to our exclusive trading chat This Trade Manager is the ideal addition for all  FX Trend  users which like to use a fully automated trade management. It detects your manually opened trades immediately and manages their stops aut
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Trend Line Optimizer
Evgenii Aksenov
This is an automatic parameter optimizer for the INFINITY Trend Line PRO indicator:  https://www.mql5.com/en/market/product/36087 You can easily and quickly select the optimal parameters for your favorite Trend Line PRO indicator. Optimization takes only a few seconds. After testing, the parameters can be saved to a ready-made set file in the folder: MQL4>Files>TrendLineOptimizedSettings Then this set file can be used for the   Trend Line PRO   indicator User's manual:  https://www.mql5.c
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Auto Trade Copier
Vu Trung Kien
Auto Trade Copier is designed to copy trades between multiple MT4/MT5 accounts/terminals with 100% accuracy. The provider and receiver accounts must be on the same PC/VPS. With this tool, you can act as either a provider (source) or a receiver (destination). All trading actions will be copied from the provider to the receiver with no delay. This version can be used on MT4 accounts only. For MT5 accounts, you must use Auto Trade Copier for MT5. Demo: Demo version for testing can be downloaded at:
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Telegram Trading Signals
Alexander Pekhterev
(MT4 to Telegram) -   Fast and instant publication of your trade in the telegram channel (chat or personal message).  F rom version 1.77 it sends Alerts of any indicators in telegram! !!! Personally, I can't imagine a full-fledged trade without this utility)) TTS   can send the following messages in   all   languages: Opening a new position; Placing a pending order; Pending order activation; SL and TP modification; Pending order price modification; Removing a pending order; Closing a position;
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Forward Alert To Telegram
Trinh Dat
The Expert Advisor will help you forward all alert from  MetaTrader 4 to Telegram channel/ group.  All alert must save to folder <Data folder>MQL4\Files\Alerts\ , text file with format *.txt and screenshot with format *.png. Use Alerts To File Indicator to auto get all alert. Parameters Telegram Bot Token   - create bot on Telegram and get token. Telegram Chat ID    - input your Telegram   user ID,   group /   channel ID Forward Alert - default true, to forward alert. Send message as caption o
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Auto Trade Driver
Vu Trung Kien
Auto Trade Driver is an automatic powerful tool (run as Expert Advisor) that helps you to manage risk and control orders and maximize your profit in multi-protect/trailing-stop rules. This tool is very useful for both scalpers and trend followers. It not only calculates the trade risk exactly, but also protects and maximizes your profits in real-time. With this tool, the only thing you have to do is to enter trade by your own strategy, then it will auto-drive your position with exit strategy you
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Moon Phase
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Candle Alert
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Fibo Pro
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When you combine short term fibos with the long term, your chart get missed up with a lot of lines that hardly make sense at first view. The best way to improve the clearness and there for the easiness to read your chart is by deleting the fibo levels that you no longer need, for example those levels that the price proved didn’t work as support or resistance. With Fibo Pro, you can activate or deactivate from a set of fibo levels pre-settled by you, without miss with the default fibo configurati
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This is a simple but functional Moving Average Cross Alert, just set the parameters for both moving averages and when they cross or are equal you will get an alert. If you configure your terminal to send emails or notifications, the indicator will send you an alert by mail or notification. You can set the number of iterations for your alerts on the platform and the interval between the alerts. You can use Simple, Exponential, Smoothed or Linear Weighted moving averages. You can apply any type of
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Elliott Wave Tool Lite
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This is a reduced version, demo if you like, of the published Elliott Wave Tool 7Pasos . The limitations for this tool vs Elliott Wave Tool 7pasos are the following: Only one account possible, the original tool has 1 principal and 4 alternative accounts. Only one degree (Primary) is available, in the original tool 12 different degrees (6 in micro) are at your disposition. As only one degree is available, the functions to upgrade and downgrade the degree of the selected wave are disabled. Fixed c
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ATR on Prices is simply an ATR indicator that plot a line for Resistance and Support using the Average True Range calculation. You can set the ATR daily periods, to be calculated. As well you can set the reference price to add and subtract the ATR measure to obtain the ATR Top and ATR Bottom lines, using the Open Price (that is fixed) or the Middle (HL/2) price (that will vary on the day) Or adding the ATR to the daily low and subtracting it from the daily high . You can use full ATR measure or
Sergio D. Rocha
This is a simple script that places a specific number of lines above and below a given price. The script lets you set the number of lines, the separation in pips and the color. If the last parameter is set to false, the script will delete the lines previously placed by it. 
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This indicator calculates directly the value of the dollar index by using the ICE formula to plot the chart, this can help you as reference. You do not need your broker to provide the ICE DX to use this indicator, is a way to have it calculated. Little discrepancies could be found in the exact value of the candles or time due closing time of the trading floor and the use of decimals, but generally will give you good reference.  You need your broker offers the feed for the following pairs in orde
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This is an extension of the previous published DollarIndex with the addition of the function for calculating EURO Index under ICE Formula. Note that the broker should provide the following data: For Dollar Index formula, EURUSD, USDJPY, GBPUSD, USDCAD, USDSEK and USDCHF are needed. For Euro Index formula, EURUSD, EURGBP, EURSEK and EURCHF are needed. Now in this version if the SEK (the most uncommon) is not provided, the formula still works, since it adds 0.0001 to its value, but the index will
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This is a technical indicator that put on strategy tester the buttons of the expert adviser "Control adora". Usually when applied the controladora to the strategy tester, the buttons do not appear and therefore its functions (like directly buy, sell, close orders or place stop loss indicator) can't be used. But now you can if have the Manual Backtest indicator. If you don't have Control adora, you can get it from here . This indicator get on the chart the buttons that can be of use in strategy t
Boundaries Weekly
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This indicator works exactly the same as the Boundaries indicator, but here as a free demo that only shows the high and low of the week. As the Boundaries indicator does, this indicator can work with any symbol. In the Colors tab you can set the color for the Upper and Lower boundaries. Please review the pics or watch the Boundaries indicator video to better understand how it works.
Trailing Even for Controladora
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Delete All
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This is a very silly script but perhaps you find it useful. It deletes all objects from the chart. I recommend setting a hot key to call it just by pressing a couple of keys on your keyboard.  To avoid accidental deletion of object, the script will ask you to confirm the action as you won't be available to restore them with "undo" (Ctrl+Z).
TradeALot for Controladora
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"TradeALot" is a plug-in for the Expert Advisor Control-adora . It allow you to place programmed orders without the need to write the name of the order in the Arrow (like bs, ss, bl, sl, sl1, sl2, etc). Just drag and drop the button for "Programmed Buys" or "Programmed Sells" over the candles-zone at the place where you want to program the order and TradeALot will compare the bid price with the position where you dropped the button and will decide if the order need to be "Stop" or "Limit". With
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This is an indicator that works as a plug-in for Control-adora and lets you set buy limit (bl) or sell limit (sl) orders when a trigger level is reached. This could be useful when you want for example wait until the price breaks support or resistance level and then place a limit order to take advantage of this breakout with a better price. In order to use this indicator, after placing the indicator on the chart with the Control-adora expert working on it, just add 2 Price Labels or trend lines a
CorExTi format lines in a click
Sergio D. Rocha
CorExTi is a tool that will save you literally hours in your daily routine to draw lines and other graphic elements in your charts.   With a temporary panel discreetly displayed on your screen at the touch of a graphic element as trendline:  Changes the object between 4 favorite line styles (with color, line thickness and style)  Cuts trendlines, when are extended, just at the point where you touch them Extends trendlines (active property of Ray) which are not extended  Or deactivates visualizat
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Control adora
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Controladora means in Spanish controller, this is a simple yet powerful Expert Advisor that allows you to control your trading easily and precisely. Do you want to stop your trade when the price cross a trend line? Don't worry, Controladora can do it. Do you want to take profit when the price reaches the top of a channel? Controladora can do it as well. Calculating the exact proportion of your account by opening a trade, which size represents in case of loss a percentage of your balance, is time
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Free Hand Drawer is a small app that runs as technical indicator and the only thing that does is that it draws continuous line. To activate it, after adding the indicator to the chart just press the D on your keyboard and click where you want to start drawing. Then every click you make on your chart will be the next nod in your drawing. Use it to draft Elliott waves, or to illustrate ideas on your chart. If you like to draw manually your Gann line you’ll find it handy as well. Each time you want
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ZeroEntryOrder Plug in
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This is a technical indicator that works as a plug-in for "Control adora" - the Expert Advisor that helps you to calculate, place and control positions on the chart. When run on a chart with Control adora EA, this plug-in allows setting entry levels that send orders at contact, while you have StopCloseOnly (OCO in Comments) = 1 settled in Control adora (meaning that without this, the indicator will send the order only when the price Close crosses the arrow level). This indicator only works if yo
Scalp Reference
Sergio D. Rocha
The indicator that helps you by plotting a reference to easily determine if a scalping trade (or intraday trade) has chances to work out in your favor. One of the most common issues intraday traders have is the lost of reference to know if a movement is big or small due to the scaling of the chart. With this indicator, you have 3 visual aids on your chart that will help you: "Screener" : Please set the normal stop loss size that you usually apply in your strategy. This will plot a rectangle afte
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This is a very simple indicator that mixes the Sunday session with the Monday one. This is useful because the Sunday session is a partial session mostly with only Australian and Asian sessions included, so the analysis of the Monday's daily session if mixed with Sunday tends to be more comprehensive. This indicator plots a candle with the following values: Open - the Friday's Close or Sunday's Open (depending on your choice). High - the highest High of Sunday and Monday. Low - the lowest Low of
Sergio D. Rocha
When drawing a trend line or other objects, there is a natural deviation when you place the object from a higher time frame, and then go to watch it in a lower time frame. PerfectLine is a technical indicator that solves this problem. Once you touch a line after drawing it, Perfect Line will find the exact spot in the lower time frame available for it's position and then rectifies where it should be. Perfect Line uses a five pixels pre-established tolerance, if a difference between the line's no
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AllHere for Controladora
Sergio D. Rocha
AllHere is a plug-in for Control-adora that works as information panel. Its main function is to show you all the Control-adora elements placed in the chart, like the Control-adora's orders or the exit lines. On the lower left corner, AllHere shows a collection of buttons classified by color (you can set them in the indicator's properties) for several elements used in Control-adora system: Stop loss indications (stop loss Arrows) Exit lines Above (Above trend lines) Exit lines Below (Below trend
Sergio D. Rocha
Cross Alert is an all-in-one solution for oscillators' cross over and under. Cross Alert manages the levels for the cross under and cross over separately. Thanks to this you can use it to signal zero cross over (by fixing both levels, above to below, and below to above as zero) or over-bought and over-sold levels (like 70 and 30) as well.  With CrossAlert you can also avoid alerts from one kind of crosses (overs or unders), for example if you are in an uptrend perhaps you do not want to have ale
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Sergio D. Rocha
MultiCrossAlert is an all-in-one solution to get alerts when an indicator or oscillator makes a cross over or under another indicator line. MultiCrossAlert can manage up to 3 line crosses, so it will be helpful for those traders who work with indicators like Moving Average, Bill Williams' Alligator, Ichimoku, etc. MultiCrossAlert uses the default MetaTrader Alert System but also can send you email notifications or MetaTrader messages if these options are properly configured in the MT4 platform (
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Sergio D. Rocha
Support Resistance Screener is an indicator that plots for you the direct support and resistance lines finding them by the fractal method. It can display as many supports and resistances as you want and it can plot these lines directly (meaning there is no interference from the fractal until the actual moment) and indirectly (lines that have been interfered by the price previously). This indicator can plot the supports and resistances in the actual timeframe, or you can choose another one by sel
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Sergio D. Rocha
This simple free script will allow you to show  your trade levels on the chart without disclosing their size. If the chart has no trade levels, the script will plot them using a white horizontal line for the order price, a red one for the stop loss and a blue one for the take profit. If the chart already shows trade levels, the script will delete them, this will allow avoiding doubling trade level indications. Every trade level line will contain in its description the ticket of the order. Tip:
Juan Carlos
Juan Carlos 2020.11.26 17:31 

Excelente herramienta para contar ondas. Se hace muy fácil y lo de que tengas las proyecciones es una pasada.

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 !

Reply to review
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.