Elliott Waves Indicator MT5

5

Elliott Waves Indicator MetaTrader 5

The Elliott Waves Indicator, based on Elliott Wave Theory, analyzes price movements by counting waves. This tool is available on the MetaTrader 5 platform, helping traders identify both impulsive and corrective waves within the Elliott Wave framework.

By examining price behavior, the Elliott Waves Indicator becomes a strategic asset for traders, detecting impulsive 12345 waves, combination patterns such as ABCDE, and corrective ABC waves—visually representing them on the chart with lines.

«Indicator Installation & User Guide»

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Elliott Waves Indicator Specifications

Outlined below are the main features of the Elliott Waves Indicator:

Category

Elliott Wave — Pivot Points & Fractals — Price Action

Platform

MetaTrader 5

Skill Level

Advanced

Indicator Type

Reversal — Leading — Non-Redrawing

Timeframe

Multi-Timeframe

Trading Style

Scalping — Day Trading — Intraday Trading

Markets

Forex — Stocks — Indices


Indicator at a Glance

The Elliott Waves Indicator is a high-level tool built for traders focused on identifying Elliott Waves within price charts. Through price analysis and wave recognition, it highlights potential reversal zones and trend developments. With this indicator, traders can conduct refined chart analysis and locate optimal trade setups.


Uptrend Example

On the 30-minute USD/JPY chart, the indicator detected an ABCDE formation marking a reversal from a downtrend to an uptrend. Following the completion of Wave E, traders may open long positions to benefit from the anticipated upward move.


Downtrend Example

On the 15-minute USD/CAD chart, the indicator spotted a corrective ABC pattern, hinting at a potential downward trend. Once Wave C concludes, traders can consider entering short positions to take advantage of the bearish momentum.


Elliott Waves Indicator Settings

Users can personalize the indicator using the following parameters:

• Long Depth: Controls the detection sensitivity for long waves.
• Short Depth: Controls the detection sensitivity for short waves.
• Show Lines: Enables or disables the display of wave lines.
• ABC Label Color: Sets the label color for ABC waves.
• ABCDE Label Color: Sets the label color for ABCDE waves.
• 12345 Label Color: Sets the label color for impulsive 12345 waves.
• Shift: Alters the offset for wave detection.


Conclusion

The Elliott Waves Indicator is a precision tool tailored for traders who apply Elliott Wave Theory in their analysis. It effectively identifies Elliott Wave structures and simplifies wave recognition by plotting lines and labeling 12345 sequences, ABCDE combinations, and ABC corrections directly on the chart.


Comentários 4
Kenneth Raggs
78
Kenneth Raggs 2025.09.26 22:53 
 

HELPS A LOT

Benjamin Afedzie
3145
Benjamin Afedzie 2025.07.02 22:51 
 

solid product

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Kenneth Raggs
78
Kenneth Raggs 2025.09.26 22:53 
 

HELPS A LOT

Sebastian Schmidt
1338
Sebastian Schmidt 2025.07.26 07:07 
 

O usuário não deixou nenhum comentário para sua avaliação

Yassou Kalimera
712
Yassou Kalimera 2025.07.11 17:45 
 

O usuário não deixou nenhum comentário para sua avaliação

Benjamin Afedzie
3145
Benjamin Afedzie 2025.07.02 22:51 
 

solid product

Eda Kaya
285457
Resposta do desenvolvedor Eda Kaya 2025.07.08 14:01
my pleasure.
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