Description
🌊 Elliott Wave Impulse Pro - Automated Wave Scanner for cTrader
Automatic Elliott Wave Detection with Professional Filters
Discover high-probability trading setups based on Elliott Wave Theory – fully automated, precise, and with intelligent quality filters!
🎯 What Makes This Indicator Special?
The Elliott Wave Impulse Pro continuously analyzes the market and identifies precise Wave 1-2-3 impulse patterns. When a high-quality setup forms and Wave 3 begins, you receive a clear buy or sell signal with exact entry, stop-loss, and take-profit levels.
✨ Key Features:
🔍 Intelligent Pattern Recognition
- Automatic detection of bullish and bearish Elliott Wave formations
- Precise identification of Wave 0, 1, 2 and Wave 3 projection
- Fibonacci retracement validation (38.2% - 78.6%)
- Only patterns with proven structure are displayed
📊 Unique Wave Quality Score (0-100 points)
- Evaluates each signal based on 4 criteria: Retracement quality, risk/reward, wave strength, and movement smoothness
- Automatically filters out weak setups
- Only high-quality patterns above your minimum score trigger signals
🛡️ Professional Filter Systems
- Support/Resistance Filter: Signals only at significant S/R zones
- Trend Filter with 200 MA: Choose between with-trend, counter-trend, or both
- Multi-Timeframe Confirmation: Higher timeframe must confirm the signal
- Minimum Risk/Reward Ratio: Only trades with attractive chance-risk ratios
💎 Risk Management Included
- Automatic calculation of entry, stop-loss, and take-profit
- Adjustable TP multipliers (default: 1.618x Wave 1)
- Stop-loss below/above Wave 2 with safety buffer
- Display of R/R ratio for each trade
🎨 Professional Visualization
- Color-coded wave lines (Wave 1, 2, 3 in different colors)
- Buy/sell arrows directly on chart
- Optional: TP/SL lines, entry level, Wave 3 projection
- Clear info panel with all relevant trade data
- Fully customizable colors
🎛️ Over 30 Customizable Parameters
Fully adaptable to your trading style:
Base Settings: Lookback period, minimum Wave 1 size, Wave 2 retracement range, minimum R/R ratio
Signal Quality: Wave Quality Score on/off, minimum score (0-100), S/R zone filter, S/R lookback
Trend Filter: Trend alignment on/off, MA period, mode (both/with-trend/counter-trend)
Multi-Timeframe: MTF confirmation, higher timeframe selection (H1, H4, Daily, Weekly), HTF trend MA period
Display Options: Wave lines, TP/SL lines, entry line, Wave 3 projection, info panel
TP/SL Settings: TP multiplier (default: 1.618 - the golden ratio!), SL buffer in pips
Colors: All colors individually customizable
Summary
Key features include an intelligent pattern recognition system that displays only well-structured waves, and a unique Wave Quality Score (0-100) that evaluates signals based on retracement quality, risk/reward ratio, wave strength, and movement smoothness. Professional filters allow users to customize trend alignment using a 200-period moving average, multi-timeframe confirmation, and minimum risk/reward thresholds to ensure high-probability trades.
Risk management tools automatically calculate trade parameters with adjustable take-profit multipliers based on the golden ratio (1.618x Wave 1) and safety buffers for stop-loss placement. The indicator offers professional visualization with color-coded wave lines, trade arrows, optional display of TP/SL lines, and an info panel showing relevant trade data. Over 30 customizable parameters enable adaptation to various trading styles and preferences.
Supported markets include Forex, indices, commodities, stocks, and cryptocurrencies such as BTCUSD, EURUSD, GBPUSD, XAUUSD, and NAS100.
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