🧠 ELLIOTT IQ ADAPTIVE
The first Elliott Wave cBot with adaptive intelligence
📌 What is it?
Elliott IQ Adaptive is a fully automated cBot for cTrader that detects Elliott Wave patterns in real-time and assigns each one an IQ Score from 0 to 100. Unlike traditional wave bots that use binary pass/fail logic, this system evaluates pattern quality across 6 dimensions and adapts its behavior accordingly — from skipping weak setups, to sizing up on high-conviction signals.
The bot runs two independent strategies that can work together or be selected automatically based on market conditions:
⚡ FadeWave5 — Enters contrarian trades at the end of a completed 5-wave impulse, confirmed by RSI divergence. Best in ranging/exhaustion markets.
⚡ TradeWave3 — Rides wave 3 after a clean Fibonacci retracement of wave 2. Best in trending markets.
🔬 Adaptive Intelligence
🧮 Wave IQ Scoring — Every detected pattern is scored 0-100 based on: Fibonacci proportions (35%), wave length (15%), time symmetry (10%), volume profile (15%), RSI divergence (15%), and regime alignment (10%). Scores below the threshold are automatically skipped. High scores trigger a size boost.
📊 Market Regime Detection — ADX + Bollinger Band Width classify the market as Trending, Ranging, or Volatile. In Auto mode, the bot picks the right strategy for the current regime without manual intervention.
🔗 Correlation Filter — Monitors real-time Pearson correlation with a secondary instrument. Blocks trades when correlation is too high (redundant exposure) or too low (anomalous market conditions).
🛠️ Position Management
💰 Dynamic Position Sizing — Lot size calculated from equity risk percentage divided by stop loss distance. No more fixed lots — risk stays constant regardless of volatility.
📐 ATR-Adaptive SL/TP — Stop loss and take profit automatically adjust to current market volatility via Average True Range multipliers. Tight in calm markets, wide in volatile ones.
✂️ Partial Close — Automatically closes a portion of the position at the first target, then lets the rest run with trailing stop.
🔄 Trailing Stop & Break Even — Configurable trailing with trigger distance. Break-even lock protects profits once a threshold is reached.
📉 Drawdown Recovery — After consecutive losses, the system automatically reduces position size to protect capital, then returns to normal after a win.
🔍 Confirmation Filters
🕐 Multi-Timeframe — Checks trend direction on a higher timeframe MA before entering. Buys only when the macro picture is bullish, sells only when bearish.
⏰ Session Filter — Two configurable UTC trading sessions. Avoids low-liquidity hours. Supports overnight sessions.
📊 Volume Filter — Validates that wave 3 volume exceeds the moving average, confirming genuine momentum.
📈 Stochastic Filter — Optional overbought/oversold crossover confirmation before entry.
🛡️ Risk Management
🏢 Prop Firm Ready — Daily loss limit, total loss limit, profit target. Automatic position closure when limits are hit. Designed for funded accounts and challenges.
📈 Live Dashboard — Real-time on-chart panel showing equity, P&L, win rate, regime, HTF trend, session status, IQ scores, and last signal info.
⚠️ Disclaimer
Trading involves risk. Past performance does not guarantee future results. Always test on a demo account before going live.
📋 PARAMETER GUIDE
⚙️ 1. SETTINGS
🔹 Pivot Depth (Window Size) — Default: 12 Number of bars to the left and right required to confirm a swing high/low. Higher = fewer but more significant pivots. Lower = more pivots, more noise. Recommended: 8-15 for H1, 5-8 for M5.
🔹 Max Pattern Age (Bars) — Default: 100 Maximum number of bars allowed between the last pivot of a pattern and the current bar. Patterns older than this are ignored even if they have a high IQ score. Prevents trading stale signals.
🎨 2. VISUALS
🔹 Draw Waves on Chart — Default: Yes Enables/disables the yellow wave lines and number labels on the chart.
🔹 Show Dashboard — Default: Yes Enables/disables the on-chart dashboard panel (top-left corner).
🔹 Bars to Keep Old Drawing — Default: 30 How many bars to keep showing the last valid wave pattern after it becomes invalid. Set to 0 to remove immediately.
📈 3. TRADING
🔹 Enable FadeWave5 Strategy — Default: Yes Activates the contrarian strategy that fades completed 5-wave impulses.
🔹 Enable TradeWave3 Strategy — Default: Yes Activates the trend-following strategy that enters at the start of wave 3.
🔹 Auto Strategy by Regime — Default: Yes When enabled, the bot automatically selects which strategy to use based on the detected market regime: FadeWave5 in Ranging, TradeWave3 in Trending, both in Volatile. Overrides the manual enable/disable above.
🧮 4. WAVE IQ SCORING
🔹 Min Score to Trade — Default: 60 Minimum IQ score (0-100) required to enter a trade. Patterns below this are logged but skipped. Higher = fewer but higher-quality trades.
🔹 Score Modulates Size — Default: Yes When enabled, the IQ score affects position size: high scores get a boost, low scores (near threshold) get a reduction.
🔹 High Score Threshold — Default: 80 IQ score above which the size boost is applied.
🔹 High Score Size Boost (%) — Default: 50 Percentage increase in lot size for patterns scoring above the high threshold. 50 = 1.5x normal size.
🔹 Low Score Size Reduction (%) — Default: 30 Percentage decrease in lot size for patterns scoring just above the minimum threshold. 30 = 0.7x normal size.
📊 5. REGIME DETECTION
🔹 Enable Regime Detection — Default: Yes Activates the ADX + Bollinger Band Width market classification system.
🔹 ADX Period — Default: 14 Period for the Average Directional Index calculation.
🔹 ADX Trend Threshold — Default: 25 ADX value above which the market is classified as Trending. Below = Ranging (unless BB Width says Volatile).
🔹 BB Period (for Width) — Default: 20 Bollinger Bands period used to calculate bandwidth for volatility detection.
🔹 BB Std Dev — Default: 2.0 Standard deviation multiplier for the Bollinger Bands.
🔹 BB Width Volatile Mult — Default: 1.5 When current BB width exceeds its 50-bar average by this multiplier, the market is classified as Volatile.
🔗 6. CORRELATION FILTER
🔹 Enable Correlation Filter — Default: No Activates the cross-instrument correlation check. Requires a valid secondary symbol.
🔹 Correlation Symbol — Default: USDJPY The secondary instrument to calculate correlation against. Use DXY-correlated pairs for USD pairs, or a relevant index.
🔹 Correlation Lookback Bars — Default: 50 Number of bars used to calculate the Pearson correlation coefficient.
🔹 Max Abs Correlation — Default: 0.85 Upper limit. If absolute correlation exceeds this, trades are blocked (redundant exposure risk).
🔹 Min Abs Correlation — Default: 0.30 Lower limit. If absolute correlation falls below this, trades are blocked (anomalous decorrelation).
💰 7. RISK & SIZING
🔹 Use Dynamic Sizing — Default: Yes Calculates lot size based on equity risk percentage and stop loss distance. When off, uses fixed lots.
🔹 Risk Per Trade (%) — Default: 1.0 Percentage of account equity risked per trade. Used with dynamic sizing to calculate lot size.
🔹 Fixed Lot Size — Default: 1.00 Lot size used when dynamic sizing is disabled.
🔹 Enable Drawdown Recovery — Default: Yes Reduces lot size after a streak of consecutive losses.
🔹 Consecutive Losses to Reduce — Default: 3 Number of consecutive losses that triggers the size reduction.
🔹 Lot Reduction Factor (%) — Default: 50 How much to reduce lots during drawdown recovery. 50 = half the normal size.
🔹 Max Long Positions — Default: 1 Maximum simultaneous long positions. Set to 0 to disable longs entirely.
🔹 Max Short Positions — Default: 1 Maximum simultaneous short positions. Set to 0 to disable shorts entirely.
📐 8. SL/TP MODE
🔹 SL/TP Mode — Default: ATR Based Chooses between ATR-adaptive or fixed pips for stop loss and take profit.
🔹 ATR Period — Default: 14 Period for the Average True Range indicator used in SL/TP calculation.
🔹 ATR SL Multiplier — Default: 1.5 Stop loss = ATR × this multiplier. Higher = wider stops.
🔹 ATR TP Multiplier — Default: 3.0 Take profit = ATR × this multiplier. Default gives a 1:2 risk-reward ratio.
🔹 Fixed Long SL (Pips) — Default: 30 Fixed stop loss for long trades (used when mode = Fixed Pips).
🔹 Fixed Long TP (Pips) — Default: 60 Fixed take profit for long trades.
🔹 Fixed Short SL (Pips) — Default: 30 Fixed stop loss for short trades.
🔹 Fixed Short TP (Pips) — Default: 60 Fixed take profit for short trades.
🔹 Wave3 SL Type — Default: Automatic For Wave 3 strategy: Automatic places SL at wave 1 start. Fixed Pips uses the value below.
🔹 Wave3 Fixed SL (Pips) — Default: 40 Fixed stop loss in pips for Wave 3 trades (only when type = Fixed Pips).
🔹 Wave3 Min W1 Bars — Default: 3 Minimum number of bars wave 1 must span to be considered valid. Filters out spikes and noise.
✂️ 9. POSITION MANAGEMENT
🔹 Enable Partial Close — Default: Yes Closes a portion of the position at a partial target, letting the rest run.
🔹 Partial Close at % of TP — Default: 50 Percentage of take profit distance at which the partial close triggers. 50 = halfway to TP.
🔹 Partial Close Volume (%) — Default: 50 Percentage of position volume to close. 50 = close half.
🔹 Trailing Stop Trigger (Pips) — Default: 20 Profit in pips required to activate the trailing stop. 0 = disabled.
🔹 Trailing Stop Distance (Pips) — Default: 15 Distance in pips the trailing stop maintains behind the price.
🔹 Break Even Trigger (Pips) — Default: 10 Profit in pips required to move stop loss to break even. 0 = disabled.
🔹 Break Even Lock (Pips) — Default: 2 Pips of profit locked in when break even activates. 2 = SL moves to entry + 2 pips.
🕐 10. MULTI-TIMEFRAME
🔹 Enable MTF Filter — Default: Yes Requires the higher timeframe to confirm trade direction before entry.
🔹 Higher TF — Default: Daily The timeframe used for trend confirmation. Typical: Daily for H1 entries, H4 for M15.
🔹 HTF MA Period — Default: 50 Moving average period on the higher timeframe. Price above MA = bullish, below = bearish.
🔍 11. CONFIRMATION FILTERS
🔹 Enable Volume Filter — Default: Yes Requires wave 3 average volume to exceed the volume SMA. Confirms genuine momentum.
🔹 Volume SMA Period — Default: 50 Period for the volume simple moving average baseline.
🔹 Enable Stochastic Filter — Default: No Requires stochastic crossover in overbought/oversold zone before entry.
🔹 Stoch %K / %D / Slowing — Default: 14 / 3 / 3 Standard stochastic oscillator parameters.
🔹 Stoch Overbought — Default: 80 Level above which sell crossovers are valid.
🔹 Stoch Oversold — Default: 20 Level below which buy crossovers are valid.
🔹 Enable RSI Divergence (FadeW5) — Default: Yes For FadeWave5 only: requires RSI divergence between wave 3 and wave 5 peaks to confirm exhaustion.
🔹 RSI Period — Default: 14 Period for the Relative Strength Index.
⏰ 12. SESSION FILTER
🔹 Enable Session Filter — Default: Yes Restricts trading to specified time windows.
🔹 Session 1 Start / End (UTC) — Default: 7 / 11 First trading session. Default covers London open.
🔹 Session 2 Start / End (UTC) — Default: 13 / 17 Second trading session. Default covers New York.
🔹 Enable Session 2 — Default: Yes Toggle the second session on/off.
🛡️ 13. PROP FIRM
🔹 Enable Prop Risk Management — Default: No Activates prop firm style risk limits.
🔹 Action On Limit Hit — Default: Block New Trades What happens when a limit is breached: block new trades only, or close all and block.
🔹 Max Daily Loss (%) — Default: 5.0 Maximum equity loss allowed per day as percentage of starting daily equity.
🔹 Max Total Loss (%) — Default: 10.0 Maximum equity loss allowed overall as percentage of initial balance.
🔹 Enable Profit Target — Default: No Stops trading when a profit target is reached.
🔹 Profit Target (%) — Default: 10.0 Target as percentage of initial balance.
🌊 14. ELLIOTT WAVE FIBONACCI
🔹 Wave 2 Retrace Min / Max (%) — Default: 38.2 / 78.6 Acceptable Fibonacci retracement range for wave 2. Classic Elliott guidelines.
🔹 Wave 3 Extension Min vs W1 (%) — Default: 100.0 Minimum wave 3 length as percentage of wave 1. 100 = at least equal.
🔹 Wave 4 Retrace Min / Max (%) — Default: 23.6 / 50.0 Acceptable retracement range for wave 4 relative to wave 3.
🔹 Min Wave 1 / 3 / 5 Length (Pips) — Default: 10 / 15 / 10 Minimum wave length in pips. Filters out micro-waves. Adjust for your instrument's pip size.
