Elliott Wave AI
- Experts
- Vladimir Shumikhin
- Version: 2.0
- Updated: 29 March 2025
- Activations: 10
Description
Elliott Wave AI is a professional trading solution based on M & W wave patterns described by A. Merrill. This powerful Expert Advisor identifies and trades wave formations with high accuracy, providing traders with a reliable automated solution for using Elliott Wave theory.
Key Features
- Intelligent pattern recognition - Advanced algorithm identifies M & W wave patterns with exceptional accuracy
- Dual signal technology - Trades both Evolution and Mutation signals for comprehensive market analysis
- Flexible trading direction - Choose to trade buy only, sell only, or in both directions
- Adaptive capital management - Fixed volume or risk-oriented position sizing according to your trading style
- Multi-timeframe analysis - Optimized for all timeframes with default settings for M15
- Complete protection system - Includes customizable Stop Loss, Take Profit, Trailing Stop, and Breakeven
Markets and Pairs
Elliott Wave AI shows exceptional results in various markets:
- Forex pairs: EURUSD, GBPUSD, USDJPY, AUDUSD, USDCAD and others
- Commodities: XAUUSD (Gold), XAGUSD (Silver), WTI (Oil)
- Cryptocurrencies: BTCUSD, ETHUSD and other major crypto pairs
- Indices: US30, SPX500, NAS100, DXY and others
Trading Logic
The advisor implements Elliott Wave theory through:
- Advanced ZigZag pattern identification with customizable parameters
- Recognition of Evolution and Mutation formations
- Precise calculation of entry points based on wave completion
- Intelligent risk management with multiple protection mechanisms
- Adaptive trading based on current market conditions
Detailed Parameter Description
Indicator Settings
- Depth - Determines the search window width for the ZigZag indicator. Higher values make the indicator less sensitive to minor price fluctuations, revealing more significant waves (default: 24)
- Deviation - Sets the minimum price change in points to form a new ZigZag point. Affects the indicator's sensitivity to market noise (default: 12)
- Backstep - Determines the offset of data start for calculations. Helps exclude false signals at the initial analysis section (default: 9)
- HistSize - Sets the number of historical bars used for calculations. Affects the depth of pattern analysis (default: 500)
Trading Settings
- TradeDirection - Sets allowable trading directions:
- TRADE_DIRECTION_BOTH - Trading in both directions (buy and sell)
- TRADE_DIRECTION_BUY_ONLY - Buy only
- TRADE_DIRECTION_SELL_ONLY - Sell only
- TradeEvolution - Enables/disables trading Evolution signals (default: true)
- TradeMutation - Enables/disables trading Mutation signals (default: true)
- TimeframeToUse - Selection of the time interval for analysis and trading (default: PERIOD_M15)
Lot & Risk Settings
- LotMethod - Selection of position size determination method:
- LOTMODE_FIXED - Fixed lot size
- LOTMODE_RISK - Lot size calculation based on risk level
- FixedLotSize - Lot size when using the fixed method (default: 0.01)
- RiskLevel - Risk level when using the risk-oriented method:
- RISK_LOW - Low risk (1% of balance)
- RISK_MEDIUM - Medium risk (2% of balance)
- RISK_HIGH - High risk (3% of balance)
Stop Loss and Take Profit Settings
- StopLoss - Stop loss value in points. It is recommended to set the value to 0 for optimal operation with the built-in protection system (default: 1000)
- TakeProfit - Take profit value in points. Value 0 disables take profit (default: 500)
Trailing Stop and BreakEven Settings
- UseTrailingStop - Recommended to activate for optimal advisor operation (default: false)
- TrailingStart - Profit in points at which the trailing stop begins to work (default: 148)
- TrailingStop - Trailing stop distance from the current price in points (default: 71)
- TrailingStep - Step for moving the trailing stop in points (default: 21)
- UseBreakEven - Recommended to activate together with trailing stop (default: false)
- BreakEvenPoints - Profit in points at which the position is moved to breakeven (default: 93)
- BreakEvenOffset - Additional offset of the breakeven level in points to cover commissions/swaps (default: 31)
Trading Rules
- MaxSpread - Maximum allowable spread in points for opening positions (default: 25)
- MinutesBetweenTrades - Minimum time interval between trades in minutes (default: 39)
- magicNumber - Unique identifier for advisor trades (default: 777)
- TradeComment - Text comment added to each trade (default: "Elliott Wave")
- DailyLimit - Enables/disables limit on the number of trades per day (default: true)
- MaxOrdersPerDay - Maximum number of trades per day when daily limit is enabled (default: 1)
- MinDistancePoints - Minimum distance in points between orders (default: 388)
Visual Settings
- ColorArrow - Color of arrows marking pattern points (default: blue)
- ColorTrend - Color of pattern lines (default: gold)
- WidthTrend - Width of pattern lines (default: 2)
- BackTrend - Enables/disables displaying pattern lines in the background (default: true)
- StyleTrend - Pattern line style (default: solid line)
- ColorUpHLine - Resistance line color (default: blue)
- ColorDownHLine - Support line color (default: red)
- WidthHLine - Width of level lines (default: 2)
- BackHLine - Enables/disables displaying level lines in the background (default: true)
- StyleHLine - Level lines style (default: solid line)
Usage Recommendations
The advisor is already optimized for trading on EURUSD, but to achieve maximum efficiency, it is recommended to:
- Activate trailing stop and breakeven functions
- Set Stop Loss value to 0 to use the built-in protection system
- Adapt parameters to your broker, taking into account its features (spread size, execution speed, and others)
- Functions equally effectively on both netting and hedging accounts
- For testing and familiarization, it is recommended to first run on a demo account before moving to real trading
- Initial recommended deposit from $100, but $1000+ is recommended for comfortable trading
Take your trading to the next level with Elliott Wave AI - an intelligent solution for automated Elliott Wave trading!