Joker Elliott Wave Auto

Joker Elliott Wave Auto: automatic Elliott Wave counting for MetaTrader 5

Joker Elliott Wave Auto counts Elliott waves directly on your chart and labels the whole visible history, so you can see the structure without drawing it by hand.

What it does

• Finds swing pivots and tests them against Elliott rules to label impulse waves 1-2-3-4-5 and corrective waves A-B-C.
• Live recount: when price breaks the last pivot, the count is rebuilt immediately. Extended waves are tagged “ext”.
• Draws minor-degree sub-waves (i-ii-iii and a-b-c).
• Recognizes correction patterns: zigzag (single, double, triple), flat and triangles, with a dashed channel and the pattern name.
• Shows target lines and expected arrival boxes for the current wave.
• “Start Wave” label with a stop line, in two modes: tight (last pivot) or invalidation level.
• Optional trend ribbon (EMA 13/34 by default).
• Popup, push and sound alerts.

Rules you control

• Do not allow wave 4 beyond wave 2.
• Do not allow wave 3 to be the shortest.
• Do not allow wave 4 to overlap wave 1.
• Allow truncated wave 5 and wave C.
• Minimum retracement and size for each wave.
• Swing length, minimum wave size (x ATR), start and end date for counting.

How to use

1. Attach the indicator to any symbol and timeframe.
2. Adjust Swing length and Min W1 size to match your timeframe: higher values give fewer, larger waves.
3. Use the Display options to hide what you don’t need (targets, boxes, sub-waves, patterns).

Notes

• Elliott Wave counting is subjective by nature. The indicator applies the rules consistently, but a count can change as new bars form, and it is not a guarantee of future price movement. Test it in the Strategy Tester and on a demo account first.
• Works on all symbols and timeframes. No DLL required.

Support: please use the Comments tab of this product.