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Herodotus H4

Expert Forex Market Analysis Using Elliott Wave Theory

Introduction

Forex market analysis using Elliott Wave Theory offers new opportunities for accurately forecasting currency pair movements. Herodotus, an expert in technical analysis, applies this method to study the dynamics of key currency pairs:

  • EUR/USD

  • GBP/USD

  • USD/JPY

  • AUD/USD

  • USD/CHF

  • EUR/GBP

  • EUR/JPY

  • NZD/USD

  • USD/CAD

  • EUR/CHF

  • AUD/JPY

  • CAD/JPY

Elliott Wave Theory

This technical analysis method describes price fluctuations as recurring wave structures that reflect market participants' behavioral patterns.

Ralph Nelson Elliott identified the main types of waves:

  • Five impulse waves (1, 2, 3, 4, 5): Trend-following waves where waves 1, 3, and 5 are impulsive, while waves 2 and 4 are corrective.

  • Three corrective waves (A, B, C): Form the retracement phase, completing the market cycle.

Fundamental principles of analysis:

  • Wave 2 does not drop below the start of Wave 1.

  • Wave 3 cannot be the shortest among impulse waves.

  • Wave 4 does not cross into the price zone of Wave 1.

  • Impulse movements consist of five waves, while corrective movements contain three.

Understanding these patterns helps traders identify potential market entry and exit points.

Automated Strategies and Their Parameters

Modern technology allows traders to incorporate Elliott Wave Theory into algorithmic strategies implemented in trading bots. These tools analyze market cycles and automate the trading process.

Key bot parameters:

Trading settings:

  • Fix Lot – Fixed lot size.

  • Money Management – Automatic lot size adjustment.

  • Lot Decimal – Lot rounding.

  • r Stop-Loss – Real stop-loss.

  • r Take-Profit – Real take-profit.

  • v Stop-Loss – Virtual stop-loss.

  • v Take-Profit – Virtual take-profit.

  • Magic Number – Unique trade identifier.

  • Maximum Permissible Spread – Allowable spread level.

Operating conditions:

  • Supported currency pairs: EUR/USD, GBP/USD, USD/JPY, AUD/USD, USD/CHF.

  • Timeframe: H1.

  • Maximum spread: 20 pips.

  • Strategy optimization with a drawdown of up to 30%.

  • Recommended deposit: from $10,000.

Conclusion

Combining Elliott Wave analysis with automated trading strategies enables traders to gain deeper market insights and make informed decisions. With precise analysis and proven algorithms, Forex trading efficiency can be significantly improved. Consistently applying strategies and considering market patterns is essential for achieving stable results.


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¡Mira mi canal EN VIVO para ver este EA en acción rentable! Revisa mi perfil o asiste un video de este EA en la sección de captura de pantalla en la parte inferior de esta página. Recupera tus activos MÁS PRECIOSOS: TIEMPO y TRANQUILIDAD. EA para day trading, ´Plug-and-Play´, autónomo, multifunción, configura-y-olvídalo!  BING DayTrading Pro es un EA de trading diario totalmente autónomo y sin intervención. Diseñado para tomar operaciones de bajo riesgo, alta tasa de ganancias y baja pérdida,
Este robot de trading aplica siete indicadores! El trading se realiza en los roll-back. El producto también cuenta con sistema de gestión de dinero incorporado. Cada orden se apoya en la doble red segura con martingala muy suave. No intente establecer el valor del lote inicial demasiado alto para reducir los riesgos. El robot automáticamente analiza el estado del mercado y toma una decisión de entrada de mercado basada en la señal común de todos los siete indicadores. Los indicadores utilizados
Benefit EA is a non-indicative flexible grid adviser with special entry points that provide a statistical advantage, revealed through the mathematical modeling of market patterns. The EA does not use stop loss. All trades are closed by take profit or trailing stop. It is possible to plan the lot increments. The "Time Filter" function is set according to the internal time of the terminal as per the displayed time of the instrument's server, not the operating system (can match). This function allo
Smart Advisor Calculation is designed for a very interesting method that is able finally to give the martingale a new positive way! At startup the Expert Advisor sets virtual orders and trades like the real deal. As soon as the drawdown of virtual orders reaches the set number, the robot immediately enters the market for real orders! Thus the price is going without setbacks such as 30-70 pips, with great probability will kick back at the entrance to the market! This is used by a robot! If the pr
Otros productos de este autor
Gyroscope        professional forex expert   (for EURUSD, GBPUSD, USDJPY, AUDUSD, USDCHF, EURGBP, EURJPY, NZDUSD, USDCAD, EURCHF, AUDJPY, CADJPY pairs)   alyzing the market using the Elliot Wave Index. Elliott wave theory is the interpretation of processes in financial markets through a system of visual models (waves) on price charts. The author of the theory, Ralph Elliott, identified eight variants of alternating waves (of which five are in the trend and three are against the trend). The mov
Gyroscope        professional forex expert   (for EURUSD, GBPUSD, USDJPY, AUDUSD, USDCHF, EURGBP, EURJPY, NZDUSD, USDCAD, EURCHF, AUDJPY, CADJPY pairs)   alyzing the market using the Elliot Wave Index. Elliott wave theory is the interpretation of processes in financial markets through a system of visual models (waves) on price charts. The author of the theory, Ralph Elliott, identified eight variants of alternating waves (of which five are in the trend and three are against the trend). The mov
" Nibelung " is an advanced trading bot created for modern Forex traders. This innovative tool is a reliable assistant for anyone seeking efficient and automated trading. The bot uses pending orders as one of the main elements of its algorithm. Pending orders are placed at a certain distance from the current price and are triggered only when the price reaches a specified level. In addition, when the price moves, trailing pending orders is activated. Once the order becomes market, the bot autom
Smoking
Nadiya Mirosh
I suggest that everyone who is interested in the Smoking indicator try to trade. Smoking is a technical analysis tool that uses mathematical calculations to determine various aspects of price movement and is based on historical data. Smoking reveals special aspects of price movement and allows traders to make the right decision. All trading indicators analyze the price from different angles based on historical data. Therefore, it is not entirely correct to say that they can predict the future.
Fracture
Nadiya Mirosh
The Fracture indicator uses many moving averages that are with a given Length step. As a result of the work, the resulting lines are formed, which are displayed on the price chart as blue and red lines. The simplest use case for the indicator is to open a trade in the direction of an existing trend. The best result is obtained by combining the indicator with fundamental news; it can act as a news filter, that is, show how the market reacts to this or that news. The indicator lines can also be in
Looking for a quality pivot point indicator? So Prosecution is what you need! To identify pivot points, the Prosecution indicator analyzes many conditions, as the aggregate analysis provides a more accurate picture of the market situation. What are pivot points? Pivot point analysis is often used in conjunction with the calculation of support and resistance levels, as is the case with trend line analysis. When analyzing pivot points, the first support and resistance levels are calculated using
Before
Nadiya Mirosh
The Before indicator predicts the most likely short-term price movement based on complex mathematical calculations. Most of the standard indicators commonly used in trading strategies are based on fairly simple calculations. This does not mean that there were no outstanding mathematicians in the world at the time of their creation. It is just that computers did not yet exist in those days, or their power was not enough for the sequential implementation of complex mathematical operations. Nowad
AnalizatorMTF is an oscillator indicator, a more progressive version of the indicator, with easy customization and ease of use. The following levels are used to identify signals: 0; 0.75 / -0.75; 0.9 / -0.9, as well as the configuration of the indicator curve itself. The difference from other similar indicators is in the pointers of entry points in the form of arrows of the corresponding direction and color and the possibility of displaying higher timeframes on lower ones. The indicator can be
AnalizatorSSRC is an oscillator indicator that is easy to set up and easy to use. The following levels are used to identify signals: 0; 0.75 / -0.75; 0.9 / -0.9, as well as the configuration of the indicator curve itself. Its main difference is the absence of a signal line and signals associated with its intersections. The indicator can be used as part of various strategies. Like other oscillators, it shows trend and flat zones, as well as oversold and overbought areas.
The correlation coefficient reflects the relationship between two values. It shows the dependence of changes in one value on changes in another. For example, from changes in the price of EURUSD and EURNZD. The correlation coefficient in trade, currency relations is constantly changing. Special indicators of correlation help to define it, trace changes, draw correct conclusions. One of them is the Hubbles Correlator indicator. The indicator allows you to simultaneously display several other char
Trend Indicator, a revolutionary trend trading and filtering solution with all the important trend tool features built into one tool! The Step Success indicator is good for any trader, suitable for any trader for both forex and binary options. You do not need to set up anything, everything is perfected with time and experience, it works great during a flat and a trend.
The Analytical cover trend indicator is a revolutionary trend trading and filtering solution with all the important features of a trend tool built into one tool! The Analytical cover indicator is good for any trader, suitable for any trader for both forex and binary options. You don’t need to configure anything, everything is perfected by time and experience, it works great during a flat and in a trend. The Analytical cover trend indicator is a tool for technical analysis of financial markets
What are "pivot points"? Pivot point analysis is often used in conjunction with the calculation of support and resistance levels, as is the case with trend line analysis. Pivot point analysis calculates the first support and resistance levels using the trading range width between the pivot point and the previous day's high or low price. The second support and resistance levels are calculated using the entire width between the previous day's high and low prices. Looking for a quality pivot poin
The Trend Live indicator is a development for trend trading. Trend indicators make it possible to classify the direction of price movement by determining its strength. Solving this problem helps investors enter the market on time and get a good return. The Trend Live indicator helps to analyze the market on the selected time interval. They define the mainstream. Easy to set up and works on all pairs and all time frames. Trend Live is a trend trading and filtering solution with all the important
With the help of the Impulses Enter forex indicator algorithm, you can quickly understand what kind of trend is currently developing in the market. The Elephant indicator accompanies long trends, can be used without restrictions on instruments or timeframes. With this indicator, you can try to predict future values. But the main use of the indicator is to generate buy and sell signals. The indicator tracks the market trend, ignoring sharp market fluctuations and noises around the average price.
Trend Oracle trend indicator, shows entry signals. Displays both entry points and the trend itself. Shows statistically calculated moments for entering the market with arrows. When using the indicator, it is possible to optimally distribute the risk coefficient. The indicator can be used for both short-term pipsing and long-term trading. Uses all one parameter for settings. Length - the number of bars to calculate the indicator. When choosing a parameter, it is necessary to visually similarize s
Using the Trend alternate indicator algorithm, you can quickly understand what kind of trend is currently developing on the market. The Trend Alternate Indicator accompanies lengths, can be used without instruments or timframes. With this indicator, you can try to predict future values. But the main application of the indicator is to generate signals for the purchase and sale. The indicator monitors the market trend with ignoring the sharp fluctuations in the market and the noise around the aver
B ot Speed Forex trading advisor is an automatic scalping system that opens and closes deals using a special tick analysis algorithm programmed in code without human intervention. The main task of the ego is to instantly make a deal where a person loses time for analysis and decision making. They also automate trading, removing the emotional burden from a person and allowing you to save time. Scalping is one of the varieties of short-term strategies, moreover, the shortest of them. Using this t
The Riko Trend indicator is a revolutionary trend trading and filtering solution with all the important features of a trend tool built into one tool! The Riko Trend indicator is good for any trader, suitable for any trader for both forex and binary options. You don’t need to configure anything, everything is perfected by time and experience, it works great during a flat and in a trend. The Riko Trend indicator is a technical analysis tool for financial markets that reflects the current price f
With the help of the Fine Market Forex indicator algorithm, you can quickly understand what kind of trend is currently developing in the market. Fine Market is a combined indicator based on several instruments. Fine Market is based on classic basic technical indicators - MA, RSI, MACD, Bollinger Bands, Stochastic. A trader does not need to impose several lines on Forex charts and set up each indicator separately. Fine Market is already successfully combined and has simplified settings, convenie
It is no secret that the movements of currency pairs for a certain part of the time occur in a certain price corridor, which is called a channel. The lower limit is considered the level of support, the upper one - resistance. Do not confuse with horizontal support and resistance levels! The distance between the support and resistance levels of a channel is called the range or channel width. The key difference between the Channel Mirosh indicator and other channel indicators (for example, from th
Профессиональный эксперт форекс   Associate Manager   (для пар EURUSD, GBPUSD, USDJPY, AUDUSD, USDCHF) ализирующий рынок при помощи индекса волн эллиота. Волновая теория Эллиотта — интерпретация процессов на финансовых рынках через систему визуальных моделей (волн) на ценовых графиках.  Автор теории Ральф Эллиотт выделил восемь вариантов чередующихся волн (из них пять по тренду и три против тренда). Движение цен на рынках принимает форму пяти волн. Три из них (1, 3, 5) вызывают направленное дв
With the help of this Practica Trend forex indicator algorithm, you can quickly understand what kind of trend is currently developing in the market. The Practical Trend indicator accompanies long trends, can be used without restrictions on instruments or timeframes. With this indicator, you can try to predict future values. But the main use of the indicator is to generate buy and sell signals. The Practical Trend indicator is used in the forex markets. One of the main definitions for monitorin
Trend analysis is perhaps the most important area of technical analysis and is the key to determining the overall direction of an instrument's movement. The Quest Trend indicator determines the prevailing trend. They help analyze the market on a selected time interval. Trends are based on the principle of higher highs, higher lows (for an uptrend) and lower highs, lower lows (for a downtrend). They can have different time periods and they can be related to each other like fractals. For example,
NeoX
Nadiya Mirosh
Using the Neo Forex indicator algorithm, you can quickly understand what trend is currently developing in the market. The NeoX indicator accompanies long trends and can be used without restrictions on instruments or timeframes. Using this indicator you can try to predict future values. But the main use of the indicator is to generate buy and sell signals. The indicator tracks the market trend, ignoring sharp market fluctuations and noise around the average price. The indicator implements a type
Barry Hood's leading trend indicator is designed to more accurately determine the direction of the trend in financial markets. Here are the main characteristics and operating principles of this indicator: Adaptive Four-Level Smoothing: The indicator uses a mechanism that allows it to effectively adapt to changing market conditions. This allows you to more accurately determine the current trend. Characteristics and features: Redraws only on the zero candle: This means that the indicator is red
The   Trend Seeker   indicator is perfectly suited for tracking long-term trends in the Forex market and can be used without restrictions on instruments or time intervals. This indicator allows attempting to forecast future values, but its main application lies in generating buy and sell signals. The AlphaTrend Seeker tracks market trends, disregarding sharp fluctuations and noise around the average price. It is based on the idea of technical analysis, asserting that the market has a cyclical n
Market Magnet - This is not just a convenient tool, but rather an indispensable assistant for those who prefer to analyze the market using a clean chart. Sometimes even experienced traders need an additional analytical tool to identify key entry and exit points for trades. That's where Market Magnet comes in. This indicator is ideal for those who often have difficulty identifying trend inflection points or drawing trend lines on a chart. It offers a visual representation of key market moments,
" Nibelung " is an advanced trading bot created for modern Forex traders. This innovative tool is a reliable assistant for anyone seeking efficient and automated trading. The bot uses pending orders as one of the main elements of its algorithm. Pending orders are placed at a certain distance from the current price and are triggered only when the price reaches a specified level. In addition, when the price moves, trailing pending orders is activated. Once the order becomes market, the bot autom
Onion mt4
Nadiya Mirosh
The   Onion   Trend Indicator is a revolutionary trend trading and market data filtering solution that combines all the important features of a trend tool in one tool! It is great for any trader, be it Forex or binary options. No settings are required, everything is optimized by time and experience, it works effectively both in flat conditions and in trend conditions. The Onion Trend Indicator is a technical analysis tool for financial markets that reflects current deviations in the price of s
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Versión 4.2 2025.04.09
Herodotus
Versión 4.1 2025.03.24
Please download the new version.