Advanced Elliott Wave Indicator for Prorealtime
Anticipate Bull Markets and Corrections Before Anyone Else
Advanced Elliott Wave Indicator for Prorealtime
Anticipate Bull Markets and Corrections Before Anyone Else
How will the Advanced Elliott Wave indicator help you?
The Elliott Waves enable the identification of trend cycles in the markets. The Advanced Elliott Wave indicator will help you detect the beginning and end of trends as soon as they form. It provides reliable buying signals with targets calculated from the Fibonacci levels.
✅ You will benefit from substantial price movements on the stock market.
Try the indicator for Free
Start a FREE TRIAL with the Advanced Elliott Wave indicator today. You will access the indicator’s complete functionalities for two weeks.
Install the indicator on Prorealtime
The Advanced Elliott Wave indicator is available on the Prorealcode marketplace. After you get a license, you will access the indicator and scanner on your Prorealtime platform.
Key Features
Elliott Wave Display
The indicator displays impulsive and corrective waves on your charts. You will spot Elliott Waves formations at a glance.
Fibonacci Level Display
The indicator displays Fibonacci levels on your charts. You will identify key price levels.
Anticipate Corrections
The wave 5 occurrence indicates the end of the bullish cycle. You will anticipate corrective phases in the market.
Buying Signals
The indicator detects the beginning of new bullish cycles. You will benefit from the full amplitude of the trend.
Signal Confirmation
The indicator incorporates validation, volume, and divergence filters. You will focus on the best trade opportunities.
Risk Management
The indicator displays the targets and stop-losses on the chart. You will optimize your profits while minimizing risk.
Trading Alerts
The indicator allows for trading alert creation. You will never miss trading opportunities again.
Total Customization
The indicator is fully customizable. You will adapt the indicator to your trading strategy.
Automated Trading
The indicator is implementable in a backtest. You will validate your strategy and run trading bots.
Available Brokers
The Advanced Elliott Wave indicator is compatible with all versions of Prorealtime. You can install the indicator on any broker that provides this platform. The brokers with which you can use the indicator are Interactive Brokers, IG, Saxo Bank, and Boursorama:
Why Use the Elliott Wave?
The Elliott Wave is a technical analysis theory developed by Ralph Nelson Elliott in the 1930s. It is based on the idea that financial markets move in repetitive cycles, influenced by investor sentiment.
The Elliott Waves will help you anticipate future price movements. They allow you to detect the beginning and end of primary trend cycles.
Anticipate Corrections
The formation of wave 5 indicates the beginning of a corrective cycle. You can use Elliott Wave to hedge your portfolio or close a long position.
Detect Uptrend Starting
The appearance of wave C indicates the beginning of a new bullish cycle. You can take a long position to profit from the upcoming movement.
The following image shows the three Elliott cycles, consisting of a bullish cycle, a correction phase, and the emergence of a new uptrend:
Why use the Advanced Elliott Wave indicator?
The Advanced Elliott Wave indicator contains everything you need to trade Elliott Waves. It will help you spot trend cycles with key price levels. The indicator is particularly suitable for swing traders and long-term investors.
1. Automatic Elliott Wave Detection
Any trader who has ever used the Elliott Wave method knows it can be time-consuming to plot waves on a chart correctly.
Automatically displaying Elliott Waves will save you valuable time. You’ll detect the beginning of corrective phases and new bullish cycles at a glance:
You will spot Elliott Waves at a glance on your charts
2. Fibonacci Levels Display
The indicator allows the display of Fibonacci retracements and extensions on each wave. The retracements will help you anticipate the depth of the correction. The extensions will help you set your price target.
You will evaluate the coming key price levels
3. Anticipate the Market Corrections
A market correction often follows five impulsive waves. The Advanced Elliott Wave indicator displays the waves when the algorithm recognizes a complete impulsive cycle.
When you see the indicator drawing the fifth impulsive wave, you can consider that a correction may occur.
You will cover or secure your long positions
4. Profit from the Start of the Uptrend
Bear markets can provide opportunities, but no one can say how far they will fall. Even if the third corrective wave often indicates the correction’s end, this is insufficient to buy the market.
The Advanced Elliott Wave indicator provides consistent buying signals. It detects the breakout and retest of waves (5) and (B) and displays the signal on your chart.
You will benefit from the whole coming uptrend
5. Improve your Performance
Although key-level breakouts provide excellent signals, you can improve the performance of this strategy. The Advanced Elliott Wave indicator allows for signal confirmation.
You will activate breakout and retest validation or apply volume and divergence filters. Thanks to these built-in filters, you will increase the success rate of your trades.
You will focus on the best trade opportunities
6. Manage Risk with Target and Stop-loss
Risk management is essential in trading. Often neglected by traders, limiting losses and securing profits will determine your trading performance.
The Advanced Elliott Wave indicator displays the targets and stop-losses on the price chart.
You will maximize your profits and control your risk
7. Trading Alerts
The Advanced Elliott Wave indicator allows for trading alert activations. The Prorealtime platform will notify you when the price breaks a key level.
You will create an alert on all assets in all timeframes.
You will never miss a trade opportunity again
8. Adapt the Indicator to Your Needs
The indicator is fully customizable. You can select the type of corrective waves, choose the signals, apply filters, display Fibonacci levels, and customize the display.
Type of Corrective Waves
- Zig Zag
- Regular Flat
- Expanded Flat
- Running Flat
- Triangle
- All Corrective Waves
Type of Signals
- Breakup of Wave 5
- Retest of Wave 5
- Breakup of Wave B
- Retest of Wave B
Signal Confirmation
- Signal Validation
- Volume Confirmation
- Strength Confirmation
Fibonacci Display
- Select the Wave for Display
- Determine the Extension Levels
- Length of Fibonacci Lines
- Transparency of Fibonacci Area
Risks Management
- Target Display
- Target Level Setting
- Stop Loss Display
- Stop Loss Level Setting
Waves Display
- Impulsive Wave Colors
- Corrective Wave Colors
- Line Thickness
- Elliott Wave Oscillator Smoothing
You will adapt the indicator to your trading style
9. Backtest and Automated trading
The Advanced Elliott Wave indicator is perfectly integrable in a backtest.
The following strategy opens a long entry after the breakout of the B Wave with volumes and strength. It closes the entry on the 261.8% Fibonacci level:
The following gallery shows the strategy run on all the Nasdaq 100 index stocks in the weekly timeframe:
You will backtest your strategies and create trader bots
Online Documentation
I provide complete documentation describing the usage and settings of the indicator. I also provide an example of code you can use to backtest your strategies and create an automated trading system. You can consult this documentation at any time on these pages:
Try the indicator for Free
Start a FREE TRIAL with the Advanced Elliott Wave indicator today. You will access the indicator’s complete functionalities for two weeks.
Install the indicator on Prorealtime
The Advanced Elliott Wave indicator is available on the Prorealcode marketplace. After you get a license, you will access the indicator and scanner on your Prorealtime platform.