Elliott Wave Indicator Guide
Elliott Wave Trend is the Elliott Wave indicator designed to help Elliott Wave Analysis with objective Elliott Wave counting. We share some useful articles to understand the trading operation with Elliott Wave Trend. Elliott Wave Trend is a good tool to identify the Elliott Wave Pattern in your chart. To get rid of subjectivity in your Elliott Wave Analysis and to make your prediction more accurate, you can use the steps outlined here.
- Build up the wave counting using the template pattern also known as the peak and trough analysis
- Identify Impulse Wave first before identifying any Corrective wave
- Use the Wave score to confirm either impulse wave, or corrective wave
- Or, if the Wave score is not available, then you can check the correct location of each wave point to judge the valid trading point using Fibonacci ratio
Elliott Wave Trend is designed to perform these steps so that you can predict the market movement with less or no subjecitivity. In another words, this is good system if you are looking for high probabilty trading setup. With some knowledge of Elliott Wave analysis, this tool get rid of a lot of manual wave analysis to save your time and effort. However, you still need some understanding of impulse wave and corrective wave before using Elliott Wave Trend. To help you to understand Elliott Wave Trend, We introduce three articles.
In this article, we will provide some basic features available in Elliott Wave Trend. In addition, this article provide the really simple guide to Automatic Wave Analysis for Impulse and Corrective Waves.
In this article, we provide the more detailed guide for automatic wave analysis for impulse and corrective waves. In addition, this article provide a demonstration of using automatic wave anlaysis so that you can improve your trading performance.
In this article, we provide some theoretical background behind Elliott Wave Analysis. In addition, the article explains the way to improve the accuracy of your market prediction with Elliott Wave Analysis.
Here is the links to Elliott Wave Trend available in MetaTrader 4 and MetaTrader 5:
YouTube Video about Elliott Wave Indicator
YouTube Link: https://www.youtube.com/watch?v=BpxhqQC5OZ0