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 (0β100) 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 β High β Higher Low
- Bearish: High β Low β 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.
