Elliott Wave-3 Continuation & Elliott Reversals

Elliott Wave Structure is an indicator designed to analyze market structure with the Elliott Wave theory.

It combines confirmed swing analysis, market structure, Elliott impulse detection, and a dedicated Wave-2 to Wave-3 continuation.

This tool was built for traders who require clarity, confirmation, and rule-based execution, not subjective drawing.

Non-Repainting Swing Engine

All calculations are based on confirmed swing points using:

• Adjustable swing depth
• Minimum price deviation (pip filter)
• Confirmation bars

Once a swing is printed, it never moves, ensuring full historical reliability.

Market Structure Analysis:

Automatically identifies and labels:

• Higher High (HH)
• Higher Low (HL)
• Lower High (LH)
• Lower Low (LL)

Elliott Wave Impulse Detection:

The indicator automatically detects complete 5-wave Elliott impulses in both directions:

• Bullish: L-H-L-H-L-H
• Bearish: H-L-H-L-H-L

It validates impulses using internal rules:

• Wave 3 strength
• Wave 2 and Wave 4 retracement logic
• Wave 5 proportionality

Each impulse is graded using a quality score (0–100) and labeled directly on the chart.

Wave-3 Continuation Setup (Primary Trading Module)

This is the core trading component of the indicator.

The system identifies Wave 0-1-2 continuation structures and prepares entries for Wave 3:

• Bullish: Low → High → Higher Low
• Bearish: High → Low → Lower High

Validation criteria include:

• Wave 2 retracement between 23.6% and 88.6%
• No invalidation through Wave 0
• Trend alignment using market structure
• Wave 1 strength relative to ATR
• Price must be sitting on OB

When validated, the indicator automatically draws:

• Wave 1 and Wave 2 structure
• OB entry zone
• Entry signal
• Stop Loss based on ATR beyond Wave 2
• Take Profit based on ATR projection

Risk & Trade Management

• Stop Loss and Take Profit are calculated dynamically using ATR
• Risk-Reward ratio is displayed directly on the chart
• Designed to avoid over-extended or low-quality setups

I personally use it for scalping indices on M1 & M5, but it does work with FX, commodities, stocks, etc... The dashboard shows if it has been profitable on a particular asset.

The free version let you try on major FX M15.