Elliott Wave Counter?

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..

For your reference: http://www.metaquotes.net/forum/857/

Thank you DaveL, but I tried these and they don't number the waves. Anyone else have a suggestion?

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.

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!

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.

With all the great programmers out there it's gotta exist. Just a matter of time until the right person comes along. Thanks anyway.

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.

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.

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

GWexell,

GWexell if you can define the points that create the waves it can easily be coded.

lucidlamp

The points are dynamic, constantly changing with market conditions.
Many different markets.

This might help: MTF Zig-Zag

You can add your own wave-numbers based upon your own interpretations.

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..

I have not looked at this - just ran across it:
https://secure.ibfx.com/Tools/Waves/Default.aspx

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).

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.

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!

Did you check the Refined Elliott Trader (www.elliottician.com) or WaveRunner (http://www.trywaverunner.com) ?

Sixer

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