Features of Elliott Wave Software
- Automatic wave counts.
- Manual wave counts.
- Easily find trade setups.
- Wave Scanner & Forecasts.
- Advanced professional charting.
- Intraday & Positional
- Good Risk & Reward Ratio
- Elliott Wave ABC Pattern
Elliott Wave Scanner Window
Elliott Wave Scanner can Scan Based on
- Time Frame
- Symbol Name
- Trade Setup
- Elliott Waves Count
- Elliott Wave Trend
- Trade Pattern
- Volume
- Time
- Risk Reward Ratio
Elliott Wave Indicator (Trade Setup)
Elliott Wave Indicator (Trade Setup)
Elliott Wave Indicator (Manual Trade Setup)
Trainig Details of Elliott Wave Full Software
1:1 Personal Online Training with Mentoring & Decision Making Support.
- Elliott Wave Theory
- Elliott wave Scanner
- Automatic Trade Signal Setups
- Manual Trade Setups
- Intraday Trading Strategies
- Positional Trading Strategies
- Filtering Techniques to Find High Probability Trades
- Money Management
- Risk Management
Price of Elliott Wave is 14,000/-
No Any Additional Cost.
- Elliott Wave Software
- Elliott Wave Scanner
- Elliott Wave Strategy
- Full Training
- Mentor Support
- Live Support
Optional:
Indian Market Data Feed
- 01 Month @ 400/-
- 12 Months @3,900/-
MTP and Mentor Support (After 01 Year)
- Without Data @ 4,000/Year
- With Data @ 7,000/Year
Reinstallation Charges Applicable: 4,500/-
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How to Use "Elliott Wave Software"
Complete Uses, Features and Training Guide.
Table of Contents
Section 1— Automatic trade Set-ups
Trade Setup: TS-3
The TS3 automatic trade set-up is based on an ABC (3-swing) correction to the prior impulsive move. It does not matter whether the correction is down or up, for example against a prior upswing or a prior downswing – the approach is exactly the same.
In this example, the market was moving up, then made a 3-swing (ABC) correction to reverse right at one of the coloured WPT (Wave Price Target) support zones (orange-coloured rectangles on the chart above), where a blue (buy) reversal bar unfolded. This suggested that the ABC correction was over and signalled a new long trade. Once complete, the prior trend normally resumes, which meant a continued move to new highs in this example.
As you can see, this would have allowed you to enter a new long trade just as the correction was ending, to take full advantage of a possible rally. Specifically, the initial risk on the trade (how much you would lose if the trade went wrong) was small in relation to the potential profit on the trade. This is a very important point and one I will go into more detail later…
The important points to check before trade entry:
- The reversal is at one of our price support/resistance areas (we call these WPTs, Wave Price Targets).
- There is a good Risk/Reward at the first profit target (the software will calculate this automatically for you). Ideally, we are looking for a minimum of 2:1.
- The trade is in the direction of the larger-degree trend. Advanced Traders can use DP and/or WPT levels on the higher time frame chart.
The new long trade (in this example) is entered as the as the high of the blue (buy) reversal bar is exceeded. The initial protective stop is then placed 1 tick below the recent low, these levels are calculated and displayed on the chart for you.
In this example the profit at the first profit target was projected to be approximately 8.8x greater than the initial risk required to take the trade (excluding slippage and commission). Having profits much larger than the losses is vital – more on this later in the section on Position Sizing.
MTPredictor calculates how many lots or contracts or shares (the Position Size) you should consider trading. This is based on the % risk on your current account size. For futures, we suggest 1-2%, for stocks 0.1-0.5%, for Forex 1-2%.
Once in a new trade, we move onto trade management:
Once the trade reaches the initial target, we then look at how strong the current swing is. For this we see whether the MTPTrend indicator has exceeded its strength band. If it has not (as in this example) we assume the market is weak and we should come out at the first profit target, banking a Profit of +8.8R in this example. Or if the market was strong (the MTPTrend had exceeded its strength band) we would trail with our ATRStop indicator.
Summary – TS3 automatic trade set-up
The important points to note for the TS3 trade set-up are:
- The reversal is at one of our WPT support/resistance areas
- There is a good Risk/Reward at the first profit target, ideally a minimum of 2:1
- The trade is in the direction of the larger-degree trend. Advanced Traders can use DP and/or WPT levels on the higher time frame chart).
- Once the first Profit target has been reached, then manage the trade accordingly based on whether the MTPTrend Indicator is strong or weak.
Trade Setup: TS1
The TS1 trade set-up is similar to the TS3 in that we are still looking for an ABC correction, but the difference is that the abc correction in the TS1 trade set-up is on a smaller degree. In essence, it catches a similar trade set-up to the TS3 we just saw but with a smaller (lesser degree) abc pattern. Also, the minor abc correction unfolds early in a new trend.
Summary – TS1 automatic trade set-up
The important points to check before trade entry for the TS1 trade set-up are:
- The reversal is at one of our price support/resistance areas (WPTs, Wave Price Targets).
- There is a good Risk/Reward at the first profit target, (the software will calculate this automatically for you). Ideally, we are looking for a minimum of 2:1
- The trade is in the direction of the larger-degree trend. Advanced Traders can use DP and/or WPT levels on the higher time frame chart.
Once the Trade moves in your favour, you can move onto trade management, which is the same as for the TS3 setup, which we covered in the last example
As with the TS3 setup, once the trade reaches the initial target, we then look at how strong the market is. For this we see whether the MTPTrend indicator has exceeded its strength band. If it has not (as in this example) we assume the market is weak and we should come out at the first profit target, banking a Profit of +2.4R in this example.
We will look in more detail later in this document about when to use the ATRStop to run Profits, as well as looking in more depth at Position Sizing.
Trade Setup: TS2
As with the TS3 setup, once the trade reaches the initial target, we then look at how strong the market is. For this we see whether the MTPTrend indicator has exceeded its strength band. If it has not (as in this example) we assume the market is weak and we should come out at the first profit target, banking a Profit of +2.4R in this example.
We will look in more detail later in this document about when to use the ATRStop to run Profits, as well as looking in more depth at Position Sizing.
- Open your “Meta Trader 4“
- Open any new Chart Window-
- “File” > “New Chart” > Click on any Symbol.
Trade Setup: TS3
- Open your “Meta Trader 4“
- Open any new Chart Window-
- “File” > “New Chart” > Click on any Symbol.
Trade Setup: TS4
- Open your “Meta Trader 4“
- Open any new Chart Window-
- “File” > “New Chart” > Click on any Symbol.
DP
- Open your “Meta Trader 4“
- Open any new Chart Window-
- “File” > “New Chart” > Click on any Symbol.
VS
- Open your “Meta Trader 4“
- Open any new Chart Window-
- “File” > “New Chart” > Click on any Symbol.
Wave 3
- Open your “Meta Trader 4“
- Open any new Chart Window-
- “File” > “New Chart” > Click on any Symbol.
MTP Trend Oscillator
- Open your “Meta Trader 4“
- Open any new Chart Window-
- “File” > “New Chart” > Click on any Symbol.
Advance Analysis
- Open your “Meta Trader 4“
- Open any new Chart Window-
- “File” > “New Chart” > Click on any Symbol.
WPT Tool
- Open your “Meta Trader 4“
- Open any new Chart Window-
- “File” > “New Chart” > Click on any Symbol.
Manual Analysis
- Open your “Meta Trader 4“
- Open any new Chart Window-
- “File” > “New Chart” > Click on any Symbol.
