• Home
  • Forums
  • Trades
  • News
  • Calendar
  • Market
  • Brokers
  • Login
  • Join
  • User/Email: Password:
  • 1:10am
Menu
  • Forums
  • Trades
  • News
  • Calendar
  • Market
  • Brokers
  • Login
  • Join
  • 1:10am
Sister Sites
  • Metals Mine
  • Energy EXCH
  • Crypto Craft

Options

Bookmark Thread

First Page First Unread Last Page Last Post

Print Thread

Similar Threads

Elliott Wave Counting with EG 2,835 replies

EUR/USD and other - Elliott Wave Analysis 21 replies

The Basics of Elliott Wave Theory 128 replies

Elliott Wave Gbp/usd 4 replies

(Euro) Elliott Wave Formations 43 replies

  • Platform Tech
  • /
  • Reply to Thread
  • Subscribe
  • 3
Attachments: Elliott Wave Counter?
Exit Attachments

Elliott Wave Counter?

  • Last Post
  •  
  • Page 1 2
  • Page 1 2
  •  
  • Post #1
  • Quote
  • First Post: Jun 27, 2008 12:39am Jun 27, 2008 12:39am
  •  GWexell
  • | Joined Oct 2006 | Status: Member | 12 Posts
Does anyone have a MetaTrader indicator that will count the wave numbers? I have found Elliot Wave stuff, but nothing that will actually count the waves as they happen and put the numbers on the charts.

Thank you..
  • Post #2
  • Quote
  • Jun 27, 2008 1:09am Jun 27, 2008 1:09am
  •  DaveL
  • | Joined Aug 2006 | Status: Member | 142 Posts
For your reference: http://www.metaquotes.net/forum/857/
Dave
  • Post #3
  • Quote
  • Jun 28, 2008 3:19pm Jun 28, 2008 3:19pm
  •  GWexell
  • | Joined Oct 2006 | Status: Member | 12 Posts
Thank you DaveL, but I tried these and they don't number the waves. Anyone else have a suggestion?
  • Post #4
  • Quote
  • Jun 28, 2008 8:00pm Jun 28, 2008 8:00pm
  •  DaveL
  • | Joined Aug 2006 | Status: Member | 142 Posts
The point of the above link is that Elliot-wave numbering is highly subjective, more an art than a science. (So, how do you program something so subjective?)

The joke is that if you ask 5 Elliott-wave specialists which wave we're currently on, you'll get 12 different answers.
Dave
  • Post #5
  • Quote
  • Jun 28, 2008 11:16pm Jun 28, 2008 11:16pm
  •  GWexell
  • | Joined Oct 2006 | Status: Member | 12 Posts
I hear ya there, but at least if they're numbered, I can be the one to make the decision if the wave count makes any sense or not. Sooo, that brings me back to "does anyone have a good Elliott Wave Counter out there"?


"Hello, can anyone hear me?" Ha!
  • Post #6
  • Quote
  • Jun 30, 2008 7:49pm Jun 30, 2008 7:49pm
  •  GreatYves
  • | Joined Aug 2006 | Status: AKA DareDevil | 527 Posts
Quoting GWexell
Disliked
I hear ya there, but at least if they're numbered, I can be the one to make the decision if the wave count makes any sense or not. Sooo, that brings me back to "does anyone have a good Elliott Wave Counter out there"?


"Hello, can anyone hear me?" Ha!
Ignored
It doesn't exist. Their is always two possible interpretation to Elliots wave. Just learn to draw your fibs and hope for the extension to hit. Good luck.
Harmonics and Pitchfork using korHarmonics from TradingArsenal
  • Post #7
  • Quote
  • Jun 30, 2008 8:13pm Jun 30, 2008 8:13pm
  •  GWexell
  • | Joined Oct 2006 | Status: Member | 12 Posts
With all the great programmers out there it's gotta exist. Just a matter of time until the right person comes along. Thanks anyway.
  • Post #8
  • Quote
  • Edited at 9:03am Jul 2, 2008 8:01am | Edited at 9:03am
  •  Kenz987
  • Joined Aug 2006 | Status: Member | 737 Posts
eSignal has advanced GET - cost over $4000 - and from the wave counts I've seen it produce I wouldn't trust it. So you want a freebie that runs on MT4? The closest you will get is the ZigZag indicator.
  • Post #9
  • Quote
  • Jul 2, 2008 9:13am Jul 2, 2008 9:13am
  •  syanwar
  • | Joined May 2007 | Status: Motivated by the fear of mediocrity | 149 Posts
In my experience, I'm agree with Kenz987.

I was asked by one of my client to add numbers on ZigZag indicator for your reason.
But, unfortunately I always delete all my client's order files after a month from my machine.

Quoting Kenz987
Disliked
eSignal has advanced GET - cost over $4000 - and from the wave counts I've seen it produce I wouldn't trust it. So you want a freebie that runs on MT4? The closest you will get is the ZigZag indicator.
Ignored
Keep your hands up, and use your pant! ;) - FxMatics
  • Post #10
  • Quote
  • Jul 2, 2008 10:13am Jul 2, 2008 10:13am
  •  GWexell
  • | Joined Oct 2006 | Status: Member | 12 Posts
Really is that the best Elliot Wave counter out there? I would think that with the shear number of traders using MT4 and the fact that Elliot Wave is such a an important indicator that by now someone would have produced a good one that actually counts the waves. So I'm still on the search.

I will not tire, until one is found!!

Thanks guys for your replies, keep 'em coming
  • Post #11
  • Quote
  • Jul 2, 2008 6:53pm Jul 2, 2008 6:53pm
  •  lucidlamp
  • | Joined May 2007 | Status: I do my best while asleep... | 238 Posts
GWexell,

Quoting DaveL
Disliked
The joke is that if you ask 5 Elliott-wave specialists which wave we're currently on, you'll get 12 different answers.
Ignored
Quoting GreatYves
Disliked
It doesn't exist. Their is always two possible interpretation to Elliots wave.
Ignored
GWexell if you can define the points that create the waves it can easily be coded.

lucidlamp
  • Post #12
  • Quote
  • Jul 2, 2008 9:19pm Jul 2, 2008 9:19pm
  •  GWexell
  • | Joined Oct 2006 | Status: Member | 12 Posts
The points are dynamic, constantly changing with market conditions.
Many different markets.
  • Post #13
  • Quote
  • Jul 4, 2008 10:14am Jul 4, 2008 10:14am
  •  DaveL
  • | Joined Aug 2006 | Status: Member | 142 Posts
Quoting GWexell
Disliked
I hear ya there, but at least if they're numbered, I can be the one to make the decision if the wave count makes any sense or not.
Ignored
This might help: MTF Zig-Zag

You can add your own wave-numbers based upon your own interpretations.
Dave
  • Post #14
  • Quote
  • Jul 6, 2008 11:10am Jul 6, 2008 11:10am
  •  GWexell
  • | Joined Oct 2006 | Status: Member | 12 Posts
Thanks Dave, I guess no true Elliot Wave indicator actually exists for MT4. So I will "settle" for the Zigzag. Hopefully it's not "settling" at all, because it looks promising. However, in the meantime, if anyone else comes up with an actual Elliot Wave counter, let me know.

Thanks everyone..
  • Post #15
  • Quote
  • Jul 7, 2008 11:41am Jul 7, 2008 11:41am
  •  Kenz987
  • Joined Aug 2006 | Status: Member | 737 Posts
I have not looked at this - just ran across it:
https://secure.ibfx.com/Tools/Waves/Default.aspx
  • Post #16
  • Quote
  • Jul 8, 2008 12:27am Jul 8, 2008 12:27am
  •  GWexell
  • | Joined Oct 2006 | Status: Member | 12 Posts
Yeah, that's the idea. See I knew someone had an Elliot Wave counter!! Very good, you win the prize. The only problem I see with this one is that they want you to open an account with them otherwise an annoying alarm goes off every few minutes.

Any others you may find, let me know. In fact, I think we should use this thread to start collecting Elliot Wave Count indicators since there doesn't seem to be too many out there.

SO, PLEASE LET'S START POSTING AS MANY ELLIOT WAVE COUNTING INDICATORS ON THIS THREAD!!

(Note: Wave Count indicator only, not oscillators).
  • Post #17
  • Quote
  • Oct 3, 2008 11:27am Oct 3, 2008 11:27am
  •  ffwuc
  • | Joined Aug 2006 | Status: Member | 20 Posts
We have just had a discussion on IBFXs EW wave counter over here ...
http://www.forexfactory.com/showpost...&postcount=497

Just count them manually, you only have to count to 8.
  • Post #18
  • Quote
  • Nov 29, 2008 12:59am Nov 29, 2008 12:59am
  •  s3padrian
  • | Joined Apr 2007 | Status: Member | 407 Posts
I've been trading the Elliott Wave for awhile. A lot of wave counters know me as the Wave Ace. I've read 10 books and counting on the Elliott Wave and it is my primary weapon.

Whoever said Elliott Wave counting is an art is absolutely correct. It's very abstract and the beauty of the waves comes from the eye of the beholder.

If you want to find something scientific then I suggest picking up Neely's book on waves. Skip Chapter 3, and read the rest. You can find some pretty good ways of analyzing waves, and possibly a way to program a system; however, you'll still find it hard to rely on the counts.

You have to train your eyes to see the waves. For some that could take a week, months, years..and then for some it may never materialize.

Good luck!
  • Post #19
  • Quote
  • Nov 29, 2008 7:24am Nov 29, 2008 7:24am
  •  Sixer
  • Joined Nov 2008 | Status: Member | 1,757 Posts
Did you check the Refined Elliott Trader (www.elliottician.com) or WaveRunner (http://www.trywaverunner.com) ?

Sixer
  • Post #20
  • Quote
  • May 23, 2009 3:32pm May 23, 2009 3:32pm
  •  7 waves
  • | Membership Revoked | Joined May 2009 | 2 Posts
Just to let you know that elliot waves work maybe 50% of the time. They are very good after the fact but, when you are trading the chances of you getting the top using elliot waves is really slim. The markets might even give you a perfect count but then the waves start to change and the wave that you counted actually becomes a wave three top not a wave five.

I have attached a chart for you to see, the wave count obeys elliot theory, but as you can see the market takes out the wave 5 high. I lost lots of money trading elliot waves on the daily charts. Even there the market will not respect your count.

Maybe they once worked, but certainly I would not trade them any more there are far better ways to trade, that actually require far less thinking and really work.

Save your time and learn about real trading the way banks do it.

All the best

7 waves
Attached Image (click to enlarge)
Click to Enlarge

Name: gbpjpy elliot rubbish.gif
Size: 44 KB
  • Platform Tech
  • /
  • Elliott Wave Counter?
  • Reply to Thread
    • Page 1 2
    • Page 1 2
0 traders viewing now
  • More
Top of Page
  • Facebook
  • Twitter
About FF
  • Mission
  • Products
  • User Guide
  • Media Kit
  • Blog
  • Contact
FF Products
  • Forums
  • Trades
  • Calendar
  • News
  • Market
  • Brokers
  • Trade Explorer
FF Website
  • Homepage
  • Search
  • Members
  • Report a Bug
Follow FF
  • Facebook
  • Twitter

FF Sister Sites:

  • Metals Mine
  • Energy EXCH
  • Crypto Craft

Forex Factory® is a brand of Fair Economy, Inc.

Terms of Service / ©2021