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Elliott Wave Assistant

5

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.

Avis 8
Juan Carlos
25
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
19
Kevinxo 2019.02.13 18:13 
 

Mas que exelente es algo elemental en el trading felicitaciones!

Happy Mans World
1448
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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Ofir Notify is a tool which send alerts on trades to Telegram Alert on any event concerning a position : Opening, Closing, modification (SL, TP) Send alerts to Chats, Groups and Channel Alert on Equity change Display Risk, Reward and progress of profit/lost for each position Customization of alerts Sending charts screenshots with alerts Send signals from your indicators or experts Daily, weekly and monthly summaries Reply mode: send modification and closing alert as reply of the main alert (open
Strategy Builder offers an incredible amount of functionality. It combines a trade panel with configurable automation (covert indicators into an EA), real-time statistics (profit & draw down) plus automatic optimization of SL, TP/exit, trading hours, indicator inputs. Multiple indicators can be combined into an single alert/trade signal and can include custom indicators, even if just have ex4 file or purchased from Market. The system is easily configured via a CONFIG button and associated pop-up
FTMO Protector 7
Vyacheslav Izvarin
PROTECT YOUR FTMO Account in a simplest way Must-Have   Account Protector for any Prop-trading Account and Challenge MT4 / MT5 Expert Advisor that protects your Forex Prop Trading account from an unexpected drawdown! FTMO Protector  is a Tool that lets you manage trades and control your profit and loss across multiple Robots and currency pairs using a simple parameters and settings. Use as many EAs and Instruments you need, the Protector will: 1.   Calculate your midnight (01:00 System time) Bal
The product will copy all  Discord  signal   to MT4   ( which you are member  ) , also it can work as remote copier.  Easy to set up. Work with almost signal formats, support to translate other language to English Work with multi channel, multi MT4. Work with Image signal. Copy order instant, auto detect symbol. Work as remote copier: with signal have ticket number, it will copy exactly via ticket number. How to setup and guide: Let read all details about setup and download Discord To MetaTrade
50% off. Original price: $375 Reward Multiplier is a semi-automatic trade manager based on pyramid trading that opens additional orders with the running profit of your trades to maximize return exponentially without increasing the risk. Unlike other similar EAs, this tool shows potential profit/loss and reward to risk ratio before even entering the first trade! Download Demo here  (starting lot is fixed at 0.01) Guide + tips here MT5 version   here You only open the first order. When your t
The most friendly Copier interactive interface, the most abundant easy-to-use functions, and the best Copy solution.     EASY   : Easy to use, load and select the Master or SLAVE to use easily FAST:   Quickly copy orders, algorithmic optimal follow-up mechanism, priority calculation of new signals, priority queue processing received special signals Multiple:   1. Support multiple signals to be sent at the same time, multiple accounts can select multiple accounts to copy at the same time 2. Mul
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Dollar Index
Sergio D. Rocha
4 (4)
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
FREE
Elliott Wave Tool Lite
Sergio D. Rocha
4.2 (5)
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
FREE
DollarAndEuroIndex
Sergio D. Rocha
4.83 (6)
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
FREE
ManualBackTest
Sergio D. Rocha
3.5 (2)
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
FREE
SundayCandle
Sergio D. Rocha
5 (1)
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
FREE
Trailing Even is a free complement for the Control adora Expert Adviser. It adds a trailing stop function and changes the exit level that works as stop loss if some price is reached, let's review how to make it work: First of all make sure you have the same language selected both in the Control adora Expert and in this indicator.  Change of the exit level that works as stop loss with "BES" and "BEO": This function needs 2 arrows to work: 1 named BES (stands for Break Even Start) place it at the
FREE
LevelsGrid
Sergio D. Rocha
5 (1)
This is a simple script that places a defined 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.   Instructions: Drop the script on a chart to draw the level lines  If the last parameter is set to false, the script will delete the lines previously placed by it.  Parameters:  English? Turn it yes to use English language, false will turn language to Spanish  Separation Set the pips distance among lines  From Price
FREE
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
FREE
RepliTrades Source
Sergio D. Rocha
4 (1)
This is a system consistent of 2 components: RepliTrades Source: It sends the trades to one or more terminals into the same Computer RepliTrades Trader: It trades the orders sent by RepliTrades Source  Please watch the video to learn how it works and use it. Features: Manage up to 300 trades at same time in each terminal Work with any broker, no matter if uses suffix or prefix in symbols names Replicate pending orders (limits or stops orders) or direct trades (market orders, etc) and its modif
FREE
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
FREE
Delete All
Sergio D. Rocha
4 (1)
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).
FREE
"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
FREE
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
RotaGrafico
Sergio D. Rocha
The best way to monitor multiple pairs within little workspace. RotaGrafico sequentially displays up to 6 different pairs. It has buttons to set a pair more time for observation. Normal exposure time adjustable. Broad exposure time adjustable. Combine in a profile, Rotagrafico and use the rest of your workspace to the pair that you want to analyze in detail.
Object Copier
Sergio D. Rocha
5 (2)
Did you have to start again the very same analysis because the original one, from where you want to modify, just have so much information that no longer fits? Have you ever wanted to change some in one of your charts and make this new line, Fibo or channel automatically appear in some or the rest of your set of charts? Object Copier is the solution to replicate any object into one or several charts at your desire. No matter if you changed an object, or made it from the scratch. With Object Copie
Control adora
Sergio D. Rocha
4.33 (6)
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
Fibo Pro
Sergio D. Rocha
4.5 (4)
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
FHDrawer
Sergio D. Rocha
2.5 (2)
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
BreakEven
Sergio D. Rocha
BreakEven shows the location of the average price level of the orders in the symbol, to which the indicator is attached. This information allows you to find the break-even. The indicator is helpful if you manage several positions, since it allows you to evaluate the performance of your open trades in a glance. If you trade a single order, it allows you to evaluate the effect of your stop loss and the profit or loss during the time your trade is open. Apart from drawing a break-even level line (w
Gann Line
Sergio D. Rocha
Gann Line indicator is usually used in combination with other Gann’s techniques, some say this is a key point in its success. The Gann line is interpreted as trend indicator, a series of higher highs and higher lows in it's trend are considered bullish, and a series of lower lows and lower highs are bearish. As with other technical indicators, for better results Gann Line should be used in combination with other technical concepts as Gann Fan, fibo, swings, supports and resistance, etc. When rev
RepliTrades Trader
Sergio D. Rocha
2.5 (2)
This is a system consistent of 2 components: RepliTrades Source: It sends the trades to one or more terminals into the same Computer RepliTrades Trader: It trades the orders sent by RepliTrades Source   Please watch the video to learn how it works and use it. Features: Manage up to 300 trades at same time in each terminal. Work with any broker, no matter if uses suffix or prefix in symbols names. Replicate pending orders (limits or stops orders) or direct trades (market orders, etc) and its mo
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
Moon Phase
Sergio D. Rocha
5 (1)
Gann and other analyst had found a curious correlations between moon phases and change in trends, this is an excellent indicator to test those relation and use what you find useful. It's very simplistic, can calculate the moon phases using the average moon cycle duration of 29 days 12 hours 44 minutes since the 1970 first full moon registered at January 22nd. You can also place a known full moon's date, to start the count since the daily opening of that date. In its window will plot a vertical l
Pointer Sync
Sergio D. Rocha
4.29 (7)
This indicator plots a crosshair pointer in all charts of the terminal in the position relative to the active chart. To activate the Pointer Sync, just press the "+" button that will appear in one of the 4 corners of the chart where the indicator is added. To deactivate the Pointer Sync, just press the "+" button again. Once Pointer Sync is deactivated, the cross lines will disappear in all charts as well. You can adjust the color of the pointers and the button, the corner where the button appea
Boundaries
Sergio D. Rocha
This indicator plots a line that shows the high and low of a higher time frame than the one where you have actually in your chart. For example if you want to see the high and low of the day while you are in 1hour chart, set Boundaries to Daily. Boundaries have predefined Monthly, Weekly, Daily and Hourly time frames, but if you want to use a different timeframe, just choose the option Other_TF and write on the next field the minutes for your desired timeframe. As MT4 only works beyond M1 with 5,
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.
AntiCursing
Sergio D. Rocha
Having a trade about to reach its take profit and suddenly see that it turns around to go strait ahead to your Stop Loss is one of the few things that makes me curse (a lot). This is why I created AntiCurse. Just add this Expert Advisor to an empty chart, set a "Trigger" and "Lock" in its properties and you'll have one less reason to curse! AntiCursing Settings: "Trigger" is set in percentage terms, it is the distance between the entry price and the Take Profit that needs to be covered in orde
PerfectLine
Sergio D. Rocha
5 (3)
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
The Polarized Fractal Efficiency (PFE) was introduced by Hans Hannula in 1994. The indicator was intended to quantify the efficiency of price movement and  how trendy or choppy  the recent past price action has been. This is calculated by contrasting the price traveled in the window of study  against the total accumulation of movements during the same period of time. For example: If in 10 days, an active raised from 50 to 100, by increasing it's value 5 points or dollars each session, the effici
CrossAlert
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
Filtrer:
Juan Carlos
25
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
19
Kevinxo 2019.02.13 18:13 
 

Mas que exelente es algo elemental en el trading felicitaciones!

Israel OspinaLondoño
45
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
21
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
1448
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
88
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
19
gregah 2015.02.16 15:55 
 

Hi,

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
21
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 !

Répondre à l'avis
Version 1.61 2021.11.22
Recompiled with latest MT4 build, requested by mql5.com
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.