Elliott Wave Pro

Elliot Wave Pro is an MT5 indicator that automatically detects Elliott Wave structures (impulse and corrective behavior) and calculates key Fibonacci-based retracement/limit levels from the most recent completed wave.
Its main value is structure clarity: it helps you define where the market is in a wave sequence, where pullbacks are statistically meaningful, and where the current wave scenario becomes invalid—without manual swing marking.

The indicator exposes its latest wave points and Fibonacci levels directly in the MT5 Data Window for fast decision-making and for use in alerts/EAs.

Data Window values explained

Elliott Wave points (price levels)

  • EW_Wave1
    Price level of the detected Wave (1) point in the most recent wave sequence.

  • EW_Wave2
    Price level of the detected Wave (2) point (correction after Wave 1).

  • EW_Wave3
    Price level of the detected Wave (3) point (main impulse leg reference).

  • EW_Wave4
    Price level of the detected Wave (4) point (correction after Wave 3).

  • EW_Wave5
    Price level of the detected Wave (5) point (impulse completion reference used for projections).

Fibonacci levels (projected from the latest wave range)

These levels are derived from the measured wave range and projected from the latest wave end as reference retracement/limit levels:

  • EW_Fib500
    50.0% retracement level.

  • EW_Fib618
    61.8% retracement level .

  • EW_Fib764
    76.4% deeper retracement level.

  • EW_Fib854
    85.4% extreme retracement / validity threshold level used to judge whether structure is breaking.


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