Elliott Wave Atlas

Elliott Wave Atlas

Elliott Wave Atlas is an Expert Advisor for MetaTrader 5 that combines confirmed-pivot Elliott wave setups with an interactive trading dashboard. It searches for potential wave 3 and wave 5 breakouts, waits for confirmation by a closed candle and manages trades using predefined risk limits.

The dashboard brings the wave structure, confirmation level, waiting condition and open-position progress into one chart panel. Choose a cyan-violet or gold theme, move the panel or switch to Compact mode while keeping the wave map visible.

Trading approach

The EA identifies provisional 0-1-2 and 0-1-2-3-4 structures using confirmed pivots. Fibonacci retracement filters qualify waves 2 and 4. A trade requires a candle close beyond the preceding impulse extreme plus an ATR buffer. Buy and sell setups follow symmetrical rules.

Stop Loss is placed beyond the corrective pivot with an ATR buffer. Take Profit uses a configurable reward-to-risk ratio, with 2R as the default. The EA does not use martingale, grid trading or position averaging. Wave labels describe a provisional interpretation, not a guaranteed future price path. The strategy covers a defined subset of Elliott patterns rather than every possible wave count.

Dashboard and position tracking

• Confirmed wave points, retracement zone, breakout threshold and invalidation level.
• Specific waiting or blocking reasons and a signal-candle countdown.
• Entry, Stop Loss, Take Profit, current price, original-risk R and progress toward Take Profit.
• Break-even and trailing configuration with the current stop status.
• Full and Compact layouts, two themes and brief event-driven effects with adjustable speed.
• Pause new entries, toggle wave drawings and close EA positions through a two-click confirmation.

Pause blocks new entries while existing positions remain managed. Progress toward Take Profit is a price-distance measure, not a probability of winning. Missing or stale data is shown as unavailable. The wave diagram may show a newer setup than the one that created an existing position.

Risk and execution controls

Position size is calculated from equity and the intended price risk to Stop Loss. The default risk is 0.5% per trade. Spread, trading permissions, margin and broker trading constraints are checked before entry. If the minimum lot exceeds the risk budget, the trade is skipped.

Daily equity-loss and equity-drawdown limits block new entries. Trade-count, consecutive-loss and cooldown limits are configurable. Optional break-even and swing trailing are disabled by default. Equity limits apply to the whole account; closed-trade statistics are filtered by the EA symbol and magic number. Gaps, slippage and fees can cause losses beyond the intended risk.

Getting started

Attach the EA to the symbol you want to test. The default signal timeframe is M15, independently of the chart timeframe. Start with the supplied input defaults and test using your broker's data, spreads and contract specifications. Confirm that the account size supports the broker's minimum lot within your risk budget. Each independent instance needs a distinct MagicNumber.

Enable Algo Trading and the EA trading permission when ready to allow automated trading. No DLL or WebRequest is required. The EA supports hedging and netting account logic. On netting accounts, avoid manual trading or other EAs on the same symbol. Local regression testing has covered EURUSD and XAUUSD on a demo hedging environment; this does not establish suitability for every broker or account.

The interface and input names are in English. EffectsLevel OFF hides the dashboard; MINIMAL reduces motion. The purchased EA is not restricted to demo accounts. The trial supplied by MQL5 Market runs in the Strategy Tester according to Market rules.

Screenshots and support

Screenshots marked UI PREVIEW use illustrative wave and position data to demonstrate the interface. They are not live trading results or evidence of profitability. For support, use this product's comments or MQL5 private messages.

Trading involves risk. Backtests and wave interpretations do not guarantee future returns. Test the EA and its settings before using it with real funds.