Elliott Wave Trading Robots for cTrader

Elliott Wave theory describes markets moving in repeating patterns, usually an advance of five waves with the trend followed by a correction of three waves. Robots built on it try to label these swings automatically and trade at points the pattern suggests.

It first detects swing highs and lows with a zigzag-style rule set by a sensitivity parameter, then checks the swings against wave guidelines, sometimes with Fibonacci ratios. Change the sensitivity and the same chart can produce a different count, so that input shapes every signal.

Compare swing sensitivity, the timeframe used for counting, which wave positions trigger entries, and whether the stop sits where the count would be invalidated. Tests across trending and sideways years show whether the labelling holds up outside one market phase.

Wave counts are subjective, several labellings can fit the same chart, and a count is often revised only after price moves on. A robot that commits early may trade a pattern that later turns out different, so losses and long flat spells are both possible.

Free versions exist here and some robots offer trials, so you can backtest one in cTrader Windows or Mac before any demo run. Starting an instance on a demo account then shows how counts form on live bars, which history alone cannot reveal.