Elliot Wave Oscillator MT4

MT5 Version

Elliot Wave Oscillator MT4

Elliot Wave Oscillator MT4 is an indicator designed to support Elliot Wave counts. The default settings help filtering out the noise in the market allowing a clear perception for the waves counts in differnt timeframes. Elliot Wave Oscillator high customization level allows the you to optimize this indicator to your personal preferences. Shorter Periods and faster reactive MAs will provide more infomation but will require a higher level of experience for a right interpretation. On the other side, longer Periods and slower reactive MAs will filter out much of the market's noise to get a much clearer view.

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Elliot Wave Oscillator usually shows its highest values during 3rd waves, positive but lower values during the 1st and 5th waves and divergences between the 3rd and the 5th waves. Corrections use to reach negative values.

Ideal for HOLD, SCALPING and SWING strategies

At the same time,  Elliot Wave Oscillator provides a system of alerts and notifications on the mobile phone and on the MT4 Terminal at MAX and MIN EWO values.

Some of the characteristics of the indicator are the following:

  • Time saving
  • Ease the identification of the trend and Elliot Wave counts
  • Ease of decision-making for entries and taking full or partial benefits
  • Highly customizable
  • Functional in all pairs (Crypto, Forex, Stocks, Indices, Commodities ...)
  • Perfect for Scalping or Swing trading
  • Alerts and notifications on the MT4 terminal and on the mobile phone

Input parameters

Settings:

  • Price Source: Price source for the calculations
  • MA type: Moving average type for the algorithm( SMA, EMA, WMA, Smooth MA, HullMA, RMA, TEMA )
  • Period 1: Period for the first MA
  • Period 2: Period for the second MA
  • Show  difference as percent of current candle: EWO as percent value with respect to candle price
    Visualization:

    • Enable Multicolor Mode (0=1Color, 1=2Color, 2=3Colors): 1,2 or 3 colored EWO
    • Activate Color Range: True enables default Color Ranges, False allows you to select the colors yourself
    • Color range (0=Grey,1=Blue,2=Green,3=Red): Default Color Ranges for the EWO

    Notifications:

    • Activate Alerts: Enables alerts on the MT4 Terminal at MAX and MIN EWO values
    • Activate Notifications: Enables phone Notifications

    Support and questions

    Do not hesitate to contact me for any questions and support

    Author

    Diego Arribas, private investor and speculator, automation engineer in the aerospace industry

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    MT4 Version Elliot Wave Oscillator MT5 Elliot Wave Oscillator MT5 is an indicator designed to support Elliot Wave counts. The default settings help filtering out the noise in the market allowing a clear perception for the waves counts in differnt timeframes. Elliot Wave Oscillator high customization level allows the you to optimize this indicator to your personal preferences. Shorter Periods and faster reactive MAs will provide more infomation but will require a higher level of experience for a
    Backtesting Simulator MT5
    Diego Arribas Lopez
    4 (1)
    [ MT4 Version ] Are you tired of spending months on demo or live accounts to test your trading strategies? The Backtesting Simulator is the ultimate tool designed to elevate your backtesting experience to new heights. Utilizing Metatrader historical symbol information, it offers an unparalleled simulation of real market conditions. Take control of your testing speed, test ideas quickly or at a slower pace, and witness remarkable improvements in your testing performance. Forget about wasting tim
    Fear and Greed MT5
    Diego Arribas Lopez
    5 (1)
    [ MT4 Version ] How to trade using the Fear and Greed Indicator:  Click here Uncertain about when to take total or partial profits? The   Fear and Greed   is your reliable companion for making confident trading decisions. This innovative tool offers unparalleled insights into market sentiment, helping you identify key pivot zones and optimize your trading strategy. Why Choose Fear and Greed? Revolutionary Market Insight: Sentiment Analysis:   The first indicator for that reveals the market's Fea
    MT4 Version Most indicators draw lines. This one draws the battlefield. If you ever bought an EA or indicator based on a perfect equity curve — and then watched it bleed out live — you’re not alone. The problem? Static logic in a dynamic market. Fibonacci Bollinger Bands   adapts. It combines Bollinger structure with customizable Fibonacci levels to mark   zones of control   — where price reacts, pauses, or reverses. No magic. Just logic that follows volatility. Why this tool matters   It
    FREE
    MT4 Version TTM Squeeze Momentum TTM Squeeze Momentum is an enhanced indicator ideal for recognizing consolidation periods in the market and the start of the next explosive move. This improved version is a volatility indicator based on John Carter's "TTM Squeeze" in which the histogram is based on a linear regression rather than a simple momentum indicator. Red dots on the middle line indicate that the market has entered a "Squeeze" zone or consolidation period, indicated in this enhanced versio
    MT4 Version Gaussian Channel MT5 Gaussian Channel MT5 is the first indicator in the market that uses Ehlers Gaussian Filter methods to define trends. Nowadays, this Gaussian Channel is highly known as a method to support HOLD techniques in crypto. If the price is above the channel the trend is strong, if it comes back to the channel this can react as a resistance and indicate the beginning of a bear market (or Winter) if the price breaks below it. Eventhough the use of this channel focuses on hi
    [ MT4 Version ] [ Telegram Signals ]  MT5 to Discord Signals Connect your broker account with Discord and stop missing important notifications.  Would you like to receive Discord notifications? Are you looking for a simple way to share trade signals with your followers? Do you need to start documenting your trades with an automated trading diary? This utility is simple to use and supports a wide variety of settings: Pick your desired Discord channel and enter its webhook URL Get notified when or
    Order Block Indicator MT5
    Diego Arribas Lopez
    5 (1)
    [ MT4 Version ] Order Block Indicator MT5 — Precision Trading Made Simple Order Block Indicator MT5 is designed to help traders spot powerful reversal zones effortlessly — without cluttered charts or guesswork. Built for scalping , swing trading , and smart intraday decisions , it highlights active order blocks across multiple timeframes with precision, speed, and full customization. Trade with clarity, save valuable time, and react instantly to market structure changes — even across Forex
    MT5 Version Most indicators draw lines. This one draws the battlefield. If you ever bought an EA or indicator based on a perfect equity curve — and then watched it bleed out live — you’re not alone. The problem? Static logic in a dynamic market. Fibonacci Bollinger Bands adapts. It combines Bollinger structure with customizable Fibonacci levels to mark zones of control — where price reacts, pauses, or reverses. No magic. Just logic that follows volatility. Why this tool matters It shows yo
    FREE
    [ MT4 Version ] Ultimate Alpha Trend MT5 Ultimate Alpha Trend is the first trend indicator, which combines volatility, volume, average price and momentum. The results is a highly versatile representation of trendy and sideways market conditions, highlighting, at the same time, significant supply and demand levels. The Ultimate Alpha Trend indicator can be used to find entry oportunities and to set SLs taking into consideration current market volatility, volume and momentum. Besides that, the ind
    [ MT4 Version ] [ EA ] Advanced Bollinger Bands RSI MT5 Advanced Bollinger Bands RSI is an Indicator based on the functionalities of the Advanced Bollinger Bands RSI EA . The scope of this indicator is to provide a more affordable solution for users interested in the alerts coming out of the strategy but not in Autotrading. This strategy uses the Bollinger Bands indicator in combination with the RSI, the signal triggers only when both the BB and the RSI indicate at the same time overbought or ov
    Lumos
    Diego Arribas Lopez
    Lumos Lumos is a multifunctional trading assistant. It gives an overview of the current market situation for a better decision making. The strategy tester only provides a visualization of the application. Lumos is highly customizable and gives you information in multiple timeframes about: MAs, price structure, RSI, RSI MA and an overview of the price distance to possible SLs.
    FREE
    [ How to use the Demo version ]  [ MT5 Version ]  AO unpaid divergences MT4 AO unpaid divergences is the first indicator developed to detailed analyze Regular and Hidden Divergences. It uses this analysis to find out possible entry points and targets. Below some of the characteristics of this indicator:  Time saving Highly customizable Working for all pairs (Crypto, Forex, Stocks, Indices, Commodities...) Suitable for Scalping or Swing trading Possible reversal swings Alerts and Notifications on
    Fear and Greed MT4
    Diego Arribas Lopez
    [ MT5 Version ] How to trade using the Fear and Greed Indicator:  Click here Uncertain about when to take total or partial profits? The Fear and Greed is your reliable companion for making confident trading decisions. This innovative tool offers unparalleled insights into market sentiment, helping you identify key pivot zones and optimize your trading strategy. Why Choose Fear and Greed? Revolutionary Market Insight: Sentiment Analysis: The first indicator for that reveals the market's Fear and
    MT5 Version TTM Squeeze Momentum TTM Squeeze Momentum is an enhanced indicator ideal for recognizing consolidation periods in the market and the start of the next explosive move. This improved version is a volatility indicator based on John Carter's "TTM Squeeze" in which the histogram is based on a linear regression rather than a simple momentum indicator. Red dots on the middle line indicate that the market has entered a "Squeeze" zone or consolidation period, indicated in this enhanced versi
    Gaussian Channel MT4
    Diego Arribas Lopez
    5 (1)
    MT5 Version Gaussian Channel MT4 Gaussian Channel MT4 is the first indicator in the market that uses Ehlers Gaussian Filter methods to define trends. Nowadays, this Gaussian Channel is highly known as a method to support HOLD techniques in crypto. If the price is above the channel the trend is strong, if it comes back to the channel this can react as a resistance and indicate the beginning of a bear market (or Winter) if the price breaks below it. Eventhough the use of this channel focuses on h
    MT5 Version Williams Vix Fix MT4 Need help trying to time the bottoms in the market? Williams Vix Fix MT4 is based on the volatility of the market and grants a huge support for finding out when a correction is comming to its end. TRY IT FOR FREE NOW! Williams Vix Fix MT4 derivates from Larry Williams's VixFix indicator addapted for fitting   every asset class . VIX reprensents the fear and greed in the market based on its volatility. A high VIX value shows fear in the market, this is usually a
    MA Ribbon MT4
    Diego Arribas Lopez
    MT5 Version MA Ribbon MT4 MA Ribbon is an enhanced indicator with 8 moving averages of increasing periods. MA Ribbon is useful to recognize trend direction,  reversals   and continuation points in the market as well as potential entry, partial take profit and exit points. Entry points for long and shorts position can be found when the price entries or leaves the Ribbon, at retest or a defined number of MA crossovers. It offers a good combination with mostly any volume or momentun indicators to f
    Wave Trend MT4
    Diego Arribas Lopez
    MT5 Version   Wave Trend MT4 Wave Trend is an oscillator, which helps identifing in a extremely accurate manner market reversals. The Oscillator being obove the overbought level and a cross down of the fast into the slow MA usually indicates a good SELL signal. If the oscillators is below the oversold level and the fast MA crosses over the slower MA usually highlights a good BUY signal. The Wave Trend indicator can be also used when divergences appear against the price, indicating the current mo
    Order Block Indicator MT4
    Diego Arribas Lopez
    5 (1)
    [ MT5 Version ] How to trade using Order Blocks:  Click here Discover the future of trading with   Order Block Indicator , meticulously crafted for traders who demand unparalleled accuracy and customization. Whether you're scalping or swing trading, this tool is your gateway to mastering Order Blocks and Supply and Demand Zones—critical areas where price reversals often occur. Why Choose Order Block Indicator? Transform Your Trading Strategy: Precision Analysis:   Pinpoint potential accumulation
    MT5 Version Multi Timeframe MA MT4 Multi Timeframe MA MT4 is an indicator that offers the representation of up to 3 MAs with different Periods and Timeframes. This allows the user to reprensent in one chart and timeframe information coming from other timeframes and get notified as any of the MAs crosses another one. Multi Timeframe MA is the   first   indicator in the market that offers Multi Timeframe interactions and a high customization   level from up to 7 different MA types (SMA, EMA, WMA,
    [ MT5 Version ] [ EA ] Advanced Bollinger Bands RSI MT4 Advanced Bollinger Bands RSI is an Indicator based on the functionalities of the  Advanced Bollinger Bands RSI EA . The scope of this indicator is to provide a more affordable solution for users interested in the alerts coming out of the strategy but not in Autotrading. This strategy uses the Bollinger Bands indicator in combination with the RSI, the signal triggers only when both the BB and the RSI indicate at the same time overbought or o
    [ MT5 Version ] Supply and Demand Multitimeframe Supply and Demand Multitimeframe is the first indicator in the market that combines multiple aspects like trading volume, price structure and momentum to identify Supply and Demand zones for every asset. The Supply and Demand indicator analyzes simultaneously up to 4 different TFs and represents their information in the current graph. Its interactive UI highlights everytime the price enters a Supply or Demand zone even if the zones are not visibl
    [ MT5 Version ] Bulls and Bears Power Bulls and Bears Power is an indicator that clearly highlights if bulls or bears are currently in control of the market. A price movement started with high Bulls control in the market can indicate the beginning of a new trend movement. The relative indicator power between price peaks also indicates if the movement is losing strength and might foresee a significant correction or a trend reversal. Bulls and Bears Power indicator offers a clear and simplified vi
    [ MT5 Version ] Ultimate Alpha Trend MT4 Ultimate Alpha Trend is the first trend indicator, which combines volatility, volume, average price and momentum. The results is a highly versatile representation of trendy and sideways market conditions, highlighting, at the same time, significant supply and demand levels. The Ultimate Alpha Trend indicator can be used to find entry oportunities and to set SLs taking into consideration current market volatility, volume and momentum. Besides that, the ind
    SMT Divergences MT4
    Diego Arribas Lopez
    5 (1)
    MT5 Version SMT Divergences MT4 SMT Divergences is one of the most innovative indicators in the market. It offers the possibility of analyzing price divergences between 2 pairs. These divergences highlight and help to foresee what banks and institutions are planning to do. SMT divergences also provides you with a kill zones indicator and the possibility of filtering divergences occurring during these kill zones.  The strategy tester is limited in MT4. Contact the author to get your Demo Version.
    MT5 Version Advanced Range Breakout Advanced Range Breakout allows you to trade breakouts in an impossible way for any human being. This EA focuses on entering breakouts as soon as the price moves over them, keeping a tight trailing stop loss (TSL) to catch as much as possible of breakouts'    characteristic   explosive price movements while protecting the trade if it turns out to be a fakeout. Feel free to get in touch we me to find out how I successfully managed to passed a prop firm challenge
    MT5 Version Advanced Daily Breakout Advanced Daily Breakout  allows you to trade session breakouts in an automatic way and with an accurate order and risk managing. This EA focuses on defining the session range and trading its breakout. You can let the trade run until the end of the session or keep a tight trailing stop loss (TSL) to catch as much as possible of breakouts' characteristic explosive price movements while protecting the trade if it turns out to be a fakeout. There are three main w
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    Hector Olmedo Rojas Charry
    60
    Hector Olmedo Rojas Charry 2023.01.22 01:17 
     

    Hasta hoy adquiri el indicador pero no aparece la numeracion de las ondas.

    Como en la publicidad aparece la numeracion asi lo asumi para que me ayudara a indentificar las ondas de elliot de una forma mas eficaz

    Diego Arribas Lopez
    12169
    Reply from developer Diego Arribas Lopez 2023.01.22 12:43
    Hola Hector, el indicador no numera las ondas, ayuda al usuario a reconocerlas filtrando el ruido de mercado. La definicion de cada onda depende del escenario que el usuario este interpretando, por lo tanto representar la numeracion en el grafico puede forzar al usuario a convencerse de un escenario que no queria considerar inicialmente.
    [Deleted] 2022.09.01 12:41 
     

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