Elliott Wave Oscillator Indicator
What Is the Elliott Wave Theory?
The Elliott Wave Theory in technical analysis describes price movements in the financial market. Developed by Ralph Nelson Elliott, it observes recurring fractal wave patterns identified in stock price movements and consumer behavior. Investors who profit from a market trend are described as riding a wave.
Elliott Wave Theory: What It Is and How to Use It (investopedia.com)
An oscillator to help you confirm your Elliott waves counting (doesn't count the waves automatically)
- Different bar colors for noticing trend change
- Capable of drawing moving average in indicator's window
- All options are customizable
- Alert settings
Original:
MT5:
https://www.mql5.com/en/code/16509
Elliott Wave Oscillator.ex5
Elliott Wave Oscillator.mq5
MT4:
https://www.mql5.com/en/code/15941
Direction:
Config:
Buy-Marron-Sell-Green:
Config:
Test_v2.60-Color-Buy-Maroon-Sell-Green.set
Bravo!