Elliott Wave Chart Patterns EA
- Experts
- Version: 1.0
- Activations: 5
Elliott Wave Chart Patterns EA is a professional Expert Advisor for MetaTrader 5 that combines Elliott Wave analysis with 14 classic chart patterns, a multi-symbol portfolio engine, signal confidence scoring, and a live on-chart dashboard.
Trading Logic
The EA detects swing points through a native percentage-based Zigzag algorithm (no external indicators required), then runs two detection layers:
- Elliott Wave: Impulse Wave 3, Impulse Wave 5, Zigzag/Flat corrections, and Elliott triangle.
- Classic chart patterns: Double Top/Bottom, Triple Top/Bottom, Head & Shoulders (regular, compound, continuation), Ascending/Descending/Symmetrical Triangles, Rising/Falling Wedges, Megaphone (broadening formation), Spike reversal, Cup & Handle, and continuation Flags.
Every pattern has its own independent enable/disable switch, so you can run a single pattern or any combination at once. Every signal is drawn live on the chart (trend lines + label + arrow) — full transparency on why each trade was taken.
Signal Confidence Score
Every signal is scored from 0 to 100% based on: the strength of the confirmation candle, its alignment with the moving-average trend, and the pattern size relative to volatility (ATR). Low-confidence signals are drawn for reference only and are not traded. Strong signals get their position size scaled up automatically (up to 1.4x).
Multi-Symbol Portfolio
Run up to 4 symbols simultaneously from a single chart (e.g. EUR/USD, GBP/USD, XAU/USD, BTC/USD), each with a fully independent detection and trade-management engine, plus a portfolio-wide cap on total concurrent trades to control overall exposure.
Entry & Exit System
- Entry: only after a pattern fully completes and passes the minimum confidence threshold.
- Exit: a graduated 1R / 2R / 3R / 4R target ladder — 25% of the position is closed at each target, with the stop-loss automatically trailed to the previous target level after every partial close.
- Extra protection: a reversal exit after a configurable number of confirming candles against the position, and a full automatic close if a trade stays open longer than a set number of bars without reaching its targets.
- Optional stealth stop-loss (Fake SL): an advanced, off-by-default option that hides the real stop from the broker (to reduce stop-hunting) while monitoring it internally.
Capital Protection & Execution Quality
Daily loss kill-switch, pre-trade margin check, spread and trading-session filters, slippage and broker stops-level protection, and automatic retry on execution errors (requotes/timeouts).
Live On-Chart Dashboard
A real-time panel showing total open trades, floating P/L, today's loss percentage and kill-switch status, plus a status line for every symbol in the portfolio with its latest detected signal.
Key Features
✅ 14 detectable patterns (2 Elliott Wave setups + corrections + 11 chart patterns) ✅ Independent on/off switch for every pattern ✅ Signal confidence scoring with automatic position sizing ✅ 1R/2R/3R/4R graduated exit ladder with trailing stop ✅ Optional stealth stop-loss ✅ Multi-symbol portfolio trading from a single chart ✅ Daily kill-switch, margin, spread and session filters ✅ Live dashboard, trade journal (CSV), and push/alert notifications ✅ Works on any timeframe and (in principle) any symbol ✅ Fully visual: every detected pattern is drawn on the chart
Testing & Compatibility
The core logic was built and tested using the Strategy Lab on NatTrade. Fully compatible with MetaTrader 5 and the Strategy Tester for re-testing and optimization on your own account. Always test on a demo account before live use.
⚠️ Risk Disclosure: This is an automated execution tool, not investment advice. Trading Forex, metals, indices and cryptocurrencies always carries a risk of capital loss. Past performance and backtest results do not guarantee future results.
