FoldingMeter Elliott Wave

See Beyond Price Movement. Discover Market Structure, Elliott Waves, and Potential Trading Opportunities — All on One Chart!

FoldingMeter Elliott Wave Channel and Trade Plan is an advanced multi-functional technical analysis indicator for MetaTrader 5, combining Elliott Wave analysis, automatic price channels, multi-timeframe market structure, projected target zones, and a structured trade planning system.

Designed for traders who want more than isolated signals, FoldingMeter brings essential market information together in one comprehensive analytical environment.

Understand the trend. Explore the wave structure. Identify potential price objectives. Evaluate trading opportunities.

1. Elliott Wave Analysis

FoldingMeter analyzes price pivots and automatically visualizes an Elliott-style 0–1–2–3–4–5 wave structure directly on your trading chart.

Key capabilities:

• Automatic wave structure detection and visualization.

• Color-coded Elliott Wave movements.

• Identification of developing and confirmed wave structures.

• Visualization of the current wave sequence.

• Assessment of potential market phases following a completed pattern.

• Automatic wave structure recalculation as new market data becomes available.

Turn complex market movement into a clearer visual representation of price structure.

2. Automatic Elliott Price Channels

The indicator constructs reference price channels based on the detected wave structure.

These channels help traders visualize:

• The direction of the current price structure.

• Price movement relative to the channel boundaries.

• Potential areas of structural interaction.

• The relationship between Elliott Waves and channel geometry.

Combining wave analysis with price channels provides additional context for evaluating market behavior.

3. Multi-Timeframe Market Intelligence

Professional market analysis should consider more than one timeframe.

FoldingMeter combines D1, H4, and H1 market information in a single dashboard.

D1 — Primary Market Trend

Provides an overview of the broader market direction.

H4 — Main Market Structure

Analyzes the main working structure, directional context, and potential target zones.

H1 — Entry Confirmation

Evaluates local market conditions, corrective movements, and potential entry confirmation.

This multi-timeframe perspective helps traders understand whether shorter-term price action supports or opposes the broader market structure.

4. Projected Elliott Wave Target Zones

FoldingMeter calculates potential price objectives using the detected Elliott Wave structure.

The indicator can display:

• Projected fifth-wave target zones.

• Main H4 price objectives.

• Local H1 target references.

• Active timeframe context.

• Potential next market direction after wave confirmation.

These projections provide analytical reference zones rather than guaranteed price destinations.

5. Advanced Trading Information Dashboard

The integrated trading panel provides a structured overview of the current market environment.

Dashboard information includes:

• Primary D1 Trend — broader market direction.

• Main H4 Structure — primary working market structure.

• H1 Confirmation — local directional confirmation.

• Waves 1–5 — current Elliott Wave status.

• Next Expected Move — potential next market phase.

• Market Pressure (0–100) — calculated directional pressure score.

• H4/H1 Target Zones — potential price objectives.

• Trade Plan — current calculated trading scenario.

Color-coded information distinguishes bullish, bearish, and uncertain market conditions.

Essential analytical data stays visible without repeatedly switching between charts.

6. Integrated Trade Plan — From Analysis to Actionable Levels

FoldingMeter goes beyond visual wave counting.

When the algorithm identifies a valid trading scenario, the indicator calculates and displays:

BUY / SELL — potential trading direction.

ENTRY — calculated entry price.

STOP — suggested protective stop level.

TARGET — projected price objective.

RISK/REWARD — estimated reward-to-risk relationship.

The calculation incorporates market structure, directional confirmation, and conditions designed to filter certain late-entry situations.

When a valid scenario is unavailable, the dashboard displays:

WAIT — No confirmed entry

This distinction helps traders separate confirmed algorithmic setups from market situations that still require additional confirmation.

7. Market Corrections and Trend Continuation

FoldingMeter includes visual analysis of local corrective movements relative to the primary H4 structure.

It can display information about corrections developing against the main market trend.

This functionality is particularly useful for traders who study pullbacks, trend continuation, and changes in directional momentum.

8. Configurable Market Alerts

Stay informed about selected market developments through configurable indicator alerts.

Available alert conditions include:

• Entry price events.

• Stop-level events.

• Target and exit conditions.

• Market structure and direction changes.

• Fifth-wave development and confirmation.

• H1/H4 directional alignment or disagreement.

• Elliott Wave structure recalculation.

Individual alerts depend on the enabled settings and the corresponding market conditions.

9. TradeBridge — Expert Advisor Integration

One of the distinctive features of FoldingMeter Elliott is its integrated TradeBridge interface.

TradeBridge provides four indicator buffers designed for use by compatible custom Expert Advisors.

Available data buffers:

FM_SIGNAL
Returns +1 for BUY, -1 for SELL, or 0 when no validated trading scenario is available.

FM_ENTRY
Provides the calculated entry level.

FM_STOP
Provides the calculated protective stop level.

FM_TARGET
Provides the calculated target level.

This interface allows MQL5 developers to access structured indicator data when designing custom trading systems.

Important: FoldingMeter itself does not execute trades. Automated order execution requires a separate compatible Expert Advisor.

10. Flexible Settings and Chart Customization

Customize the indicator to match your analytical preferences.

Available configuration options include:

• Elliott Wave analysis timeframe.

• Pivot detection sensitivity.

• Historical analysis depth.

• ATR calculation parameters.

• Wave visualization.

• Price channel display.

• Projected zones and forecast elements.

• Trading dashboard visibility.

• Entry, stop, and target level visualization.

• Alert settings.

• Individual wave and channel colors.

The indicator is designed for technical analysis within the MetaTrader 5 trading environment.

Who Is FoldingMeter Elliott Designed For?

Trend Traders

Analyze the primary market direction and potential corrective phases.

Elliott Wave Traders

Explore automatically generated wave structures and projected wave objectives.

Intraday Traders

Combine H4 market context with H1 entry confirmation.

Channel-Based Traders

Evaluate price movement using wave structures and reference channel boundaries.

MQL5 Developers

Access structured indicator outputs through the TradeBridge interface for custom Expert Advisor development.

FoldingMeter Elliott — Transform Market Structure into a Clearer Trading Perspective.

Elliott Waves. Price Channels. Multi-Timeframe Analysis. Target Zones. Trade Planning. One Integrated Indicator.

Bring multiple analytical perspectives together and approach the market with a more structured decision-making process.

Developer: Alexey Shcherbak
Platform: MetaTrader 5
Version: 3.00

Risk Disclosure: FoldingMeter Elliott is a technical analysis tool and does not guarantee profitable trading results. Wave structures, forecasts, and calculated trading levels may change as market conditions evolve. Users should perform their own testing, apply appropriate risk management, and independently evaluate all trading decisions.