We introduce Advanced Elliott Wave Software for MetaTrader 5 for Forex Trading. Elliott Wave Software is a tool to help the day trader to count Elliott Wave or to identify Elliott Wave pattern in the Forex and Stock chart analysis. Elliott Wave Software might be specialized to do Elliott Wave Coutning or Elliott Wave pattern detection depending on their objectives. When you choose the Elliott Wave Software, you need to know which functionality is suitable for you. Typically, Elliott wave counting is more complicated in comparison to the Elliott Wave pattern detection in terms of Elliott Wave indicator application.
Before we explain the Elliott Wave Indicator, let us cover some basics of Elliott Wave Theory. Ralph Nelson Elliott was one of very first person who believed that he could predict the stock market by studying the repeating price patterns in the price series. The Wave Principle from Elliott 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. Therefore, when you use Elliott Wave theory, you need to stick with some objective plan like quantification of wave counting rule and so on. Elliott wave theory is nearly 100 years old trading strategy. However, it is still actively used by many professional traders from all over the world. We provide MT5 version of Elliott Wave Software for your professional trading.
MetaTrader 5 is the next generation trading platform developed by Meta Quote who developed MetaTrader 4. MetaTrader 5 is far exceeding trading platform of its predecessor, MetaTrader 4. MetaTrader 5 is accessible for free of charge for any trader from all over the world. More and more brokers are now offering MetaTrader 5 trading options even including US based firms.
Elliott Wave Trend is the most advanced Elliott Wave Trading software, which helps you to trade with various Elliott Wave patterns like Wave .12345 pattern and Wave .ABC and Wave .ABCDE, etc. Elliott Wave Trend was built on the concept of Precision Trading with Elliott Wave Structure Score. Our Elliott Wave Trend is professional tool for professional trader. Yet, the price of it is affordable.
Our Elliott Wave Trend is available in both MetaTrader 4 and MetaTrader 5 version.