Elliott Wave Indicator Video

Elliott Wave Indicator is a technical indicator that identifies the patterns of price movements based on Elliott Wave Theory, created by Ralph Nelson Elliott. Elliott Wave theory states that markets move in repetitive cycles of five waves in the direction of the main trend, also known as the Impulse Wave. In the theory, also the Impulse Wave is followed by three waves in the opposite direction, also known as Corrective Wave. In the Elliott Wave Theory, these Impulse Wave and Corrective Wave are viewed as to reflect the collective psychology and behaviour of the crowd including all sort of market players including traders.

The Elliott Wave Indicator can help traders to forecast future price movements, identify entry and exit points, and determine the best trading strategy. The indicator can be applied to any time frame and any currency pair. However, applying Elliott Wave Theory in Forex and Stock market requires some skill and experience to interpret the waves correctly, as they can be subjective and complex.

Essentially, Elliott Wave indicator is a software that helps a trader to automate Elliott Wave counting and Elliott Wave analysis. Elliott Wave Theory states that the wave patterns in different scales are repeating and superimposing on each other forming complex wave patterns. If harmonic pattern directly focuses on the short patterns made up from five points, the Wave Principle, developed by Ralph Nelson Elliott, describe how the financial market evolve to meet the equilibrium with the repeating wave patterns, equilibrium fractal waves. The advantage of Elliott Wave theory is that it is comprehensive as the theory provides multiple trading entries on different market conditions. With Elliott Wave theory, traders can perform both momentum trading and mean reversion trading. The disadvantage of Elliott Wave theory is that it is more complex comparing to other trading techniques. In addition, there are still some loose ends in detecting Elliott wave patterns. For this reason, many traders heavily criticize the lack of scientific methods of counting Elliott Waves.

Here is a video of Elliott Wave indicator that demonstrates how complex Elliott Wave could be for your trading in raw form. However, it can be simplified with Pattern and Template approach typically used in Artificial intelligence and data mining Community. We use the peak trough anlaysis as the template of the Elliott Wave Analysis. This short video helps you to understand how Elliott Wave Trend can help you with your trading with embedded Pattern and Template Approach. We are talking about the practical trading.

YouTube Video: https://www.youtube.com/watch?v=Oftml-JKyKM

This article below explain how Elliott Wave Trend automates some part of Elliott Wave counting to reduce the subjectivity for your trading.

https://algotrading-investment.com/2018/10/25/how-elliott-wave-can-improve-your-trading-performance/

Elliott Wave Trend is available in both MetaTrader 4 and MetaTrader 5 platform. Here is a link to Elliott Wave Indicator.

https://algotrading-investment.com/portfolio-item/elliott-wave-trend/
https://www.mql5.com/en/market/product/16472
https://www.mql5.com/en/market/product/16479