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Elliot Wave Oscillator MT4

MT5 Version

Elliot Wave Oscillator MT4

Elliot Wave Oscillator MT4 is an indicator designed to support Elliot Wave counts. The default settings help filtering out the noise in the market allowing a clear perception for the waves counts in differnt timeframes. Elliot Wave Oscillator high customization level allows the you to optimize this indicator to your personal preferences. Shorter Periods and faster reactive MAs will provide more infomation but will require a higher level of experience for a right interpretation. On the other side, longer Periods and slower reactive MAs will filter out much of the market's noise to get a much clearer view.

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Elliot Wave Oscillator usually shows its highest values during 3rd waves, positive but lower values during the 1st and 5th waves and divergences between the 3rd and the 5th waves. Corrections use to reach negative values.

Ideal for HOLD, SCALPING and SWING strategies

At the same time,  Elliot Wave Oscillator provides a system of alerts and notifications on the mobile phone and on the MT4 Terminal at MAX and MIN EWO values.

Some of the characteristics of the indicator are the following:

  • Time saving
  • Ease the identification of the trend and Elliot Wave counts
  • Ease of decision-making for entries and taking full or partial benefits
  • Highly customizable
  • Functional in all pairs (Crypto, Forex, Stocks, Indices, Commodities ...)
  • Perfect for Scalping or Swing trading
  • Alerts and notifications on the MT4 terminal and on the mobile phone

Input parameters

Settings:

  • Price Source: Price source for the calculations
  • MA type: Moving average type for the algorithm( SMA, EMA, WMA, Smooth MA, HullMA, RMA, TEMA )
  • Period 1: Period for the first MA
  • Period 2: Period for the second MA
  • Show  difference as percent of current candle: EWO as percent value with respect to candle price
    Visualization:

    • Enable Multicolor Mode (0=1Color, 1=2Color, 2=3Colors): 1,2 or 3 colored EWO
    • Activate Color Range: True enables default Color Ranges, False allows you to select the colors yourself
    • Color range (0=Grey,1=Blue,2=Green,3=Red): Default Color Ranges for the EWO

    Notifications:

    • Activate Alerts: Enables alerts on the MT4 Terminal at MAX and MIN EWO values
    • Activate Notifications: Enables phone Notifications

    Support and questions

    Do not hesitate to contact me for any questions and support

    Author

    Diego Arribas, private investor and speculator, automation engineer in the aerospace industry

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    Hector Olmedo Rojas Charry
    60
    Hector Olmedo Rojas Charry 2023.01.22 01:17 
     

    Hasta hoy adquiri el indicador pero no aparece la numeracion de las ondas.

    Como en la publicidad aparece la numeracion asi lo asumi para que me ayudara a indentificar las ondas de elliot de una forma mas eficaz

    Diego Arribas Lopez
    10521
    Reply from developer Diego Arribas Lopez 2023.01.22 12:43
    Hola Hector, el indicador no numera las ondas, ayuda al usuario a reconocerlas filtrando el ruido de mercado. La definicion de cada onda depende del escenario que el usuario este interpretando, por lo tanto representar la numeracion en el grafico puede forzar al usuario a convencerse de un escenario que no queria considerar inicialmente.
    [Deleted] 2022.09.01 12:41 
     

    User didn't leave any comment to the rating

    Reply to review
    Version 1.1 2022.02.19
    Good luck wishes!