Elliott Wave Detector Auto MTF Analysis

Most Elliott Wave tools just draw lines. This one validates every pattern against the 3 cardinal rules — or rejects it.

Elliott Wave analysis is one of the most powerful — and most difficult — methods in technical trading. Most indicators fake it. They draw zigzag lines and call them waves without checking a single Elliott Wave rule.

Elliott Wave Detector Pro is different. It was built from the ground up to detect, validate, and project Elliott Wave patterns the way a professional analyst would — automatically, on any asset, on any timeframe.

What makes this different

Every detected pattern is validated against the three cardinal Elliott Wave rules:

• Rule 1 — Wave 2 never retraces beyond the start of Wave 1
• Rule 2 — Wave 3 is never the shortest motive wave
• Rule 3 — Wave 4 never overlaps Wave 1 territory (except diagonals)

If a pattern fails any rule, it is rejected. No false patterns, no fake waves.

5 pattern types detected

• Impulse Waves (1-2-3-4-5) — The classic 5-wave motive structure. Validated with sub-wave counting, alternation check between Wave 2 and Wave 4, and Fibonacci ratio scoring.
• Zigzag Corrections (A-B-C) — Sharp corrective patterns with B wave retracement between 30-85% and C wave equality/extension targets.
• Flat Corrections (A-B-C) — Regular and expanded flats detected by B wave retracement of 80-145% of Wave A.
• Triangle Corrections (A-B-C-D-E) — Contracting triangles with minimum 3 out of 4 contracting waves confirmed.
• Diagonal Triangles (1-2-3-4-5) — Leading and ending diagonals with overlap confirmation and converging slope validation.

Recommended timeframe

Works on any timeframe, but H4 is the sweet spot — clean wave counts with enough price history to confirm patterns reliably. Daily also works well for swing/position traders. Lower timeframes (M15/H1) are supported too, but expect more noise and lower-confidence readings since there's less price action to confirm each wave.

Multi-timeframe validation

Every signal is cross-referenced against two higher timeframes automatically. The indicator detects your current chart timeframe and selects the most appropriate HTF1 and HTF2 automatically:

Chart TF → HTF1 → HTF2
1m → 15m → 1H
5m → 1H → 4H
15m → 4H → Daily
1H → 4H → Daily
4H → Daily → Weekly
Daily → Weekly → Monthly

MTF Alignment Score ranges from -1.0 (full conflict) to +1.0 (full alignment):

• Aligned — Higher timeframes confirm the pattern direction. Highest conviction.
• Partial — Mixed signals. Trade with reduced size.
• Neutral — No clear HTF bias. Use other confluence.
• Conflicting — HTF opposes the signal. Avoid or wait.

Auto asset detection

The indicator automatically adjusts its sensitivity based on the asset class:

• Crypto (BTC, ETH, XRP...) — 5% minimum swing
• Forex (EUR, GBP, USD...) — 1% minimum swing
• Gold / Silver — 2-3% minimum swing
• Indices (SPX, NDX...) — 2.5% minimum swing
• Futures / CFDs — 3% minimum swing

No manual tuning required when switching between assets.

Fibonacci analysis

Retracement levels drawn automatically after each pattern: 23.6%, 38.2%, 50.0%, 61.8%, 78.6%
Extension targets drawn automatically: 1.000x, 1.272x, 1.618x, 2.000x, 2.618x

Forecast projection system

When a pattern completes, the indicator projects the next wave forward:

• Directional projection line from pattern completion point
• Target zone rectangle showing the projected price area
• Stop level line based on pattern structure
• Color-coded arrow — green for bullish, red for bearish
• Gate system — only confirmed patterns trigger projection (no noise)
• Confidence rating from 1 to 5

Live info panel

Clean text-only panel shows everything at a glance:
Pivot count, detected pattern type, confidence %, wave phase (motive/corrective), alternation check result, sub-wave validation, trend direction, MTF alignment score and label, forecast action (buy zone / sell zone), target price, stop level, confidence rating, MTF note (HTF supports/conflicts).

Trade signals

• Wave 3 Entry Signal — fires when Wave 2 retracement is in the golden zone (38.2-65%) and momentum confirms Wave 3 has started
• Wave 5 Exit Signal — fires at the confirmed pattern-completion pivot, suggesting Wave 5 exhaustion
• Wave C Reversal Signal — triggers at the completion of corrective patterns when the next impulse is expected

Signals fire once at pivot confirmation and do not move retroactively. As with any swing-based tool, there is a natural short lag before a pivot is confirmed — this is expected behavior, not repainting.

Works on all assets and timeframes

• Forex — EURUSD, GBPUSD, USDJPY, NZDUSD and all pairs
• Crypto — BTCUSD, ETHUSD, XRPUSD and all major coins
• Gold & Silver — XAUUSD, XAGUSD
• Indices — US30, US500, NAS100
• Any CFD available on your broker

How to use

1. Attach to any chart (H4 recommended)
2. The indicator detects pivots and scans for patterns automatically
3. When a pattern completes, the arrow and projection appear at the completion point
4. Check the info panel for MTF alignment before entering
5. Use the target and stop levels shown on the chart
6. Set alerts using the built-in alert conditions

Input parameters

Swing Detection: Primary Swing Length (bars to confirm major pivots, default 13), Sub-Wave Swing Length (bars for minor pivots, default 5), Min Swing % Primary, Min Swing % Sub.

Multi-Timeframe: Enable MTF Validation (on/off), Auto-Detect HTF (automatic or manual), HTF Confidence Weight.

Pattern Detection: Toggle each pattern type on/off individually.

Fibonacci: Show Retracements (on/off), Show Extensions (on/off), Transparency control.

Forecast: Show Projection (on/off), Show Target Zones (on/off), Projection Length in bars.

Colors: Fully customizable — bull wave, bear wave, corrective, Fibonacci, target, HTF markers.

Built by a trader, for traders

This indicator was built by an active trader who uses Elliott Wave analysis daily across crypto and forex markets. Every feature was designed to solve a real problem — not just look impressive on a screenshot.

If you have traded Elliott Waves manually before, you know how hard it is to apply the rules consistently under pressure. This tool does the mechanical work so you can focus on the trade decision.

Platform

MetaTrader 5 only. Works as an indicator (not an EA — does not place trades automatically).

Note on Elliott Wave analysis

Elliott Wave analysis is inherently probabilistic. No indicator can predict the market with certainty. This tool identifies high-probability setups based on pattern rules and multi-timeframe confluence. Always use proper risk management and combine with your own analysis.