Elliott Wave Prophet

Published: 14.09.2013

Innovative Forex Indicator Elliott Wave Prophet. It is intended, is not difficult to guess, for assistance in carrying out the wave analysis and can to some extent predict future price movement based on already generated waves. Apply Elliott Wave Prophet possible on all currency pairs and all time frames.

Characteristics of Elliott Wave Prophet Indicator

In practice, traders applying wave analysis, face a number of problems. The main difficulty here is to determine the wave cycles and structures. In order to facilitate the work of the trader or the wave analyst developed a special indicator - Elliott Wave Prophet. Overestimate the ability of such instruments is clearly not worth it. On the other side, the wave indicators can be very useful in certain stages of the analysis.


Elliott Wave Prophet shows already formed waves on the chart. But these properties it is not limited. This indicator is also able to point out some guidelines for potential movements. This applies to both impulse and corrective waves. Elliott Wave Prophet can identify a specific wave cycle, signal the key levels.

To install the Elliott Wave Prophet need to copy the folder MQL4 in "Open Data Folder". Restart MT4. Then select the chart and the menu Insert - Indicators - Custom select this indicator or use our template called Elliott Wave Prophet Indicator. After selecting the Elliott Wave Prophet settings window appears in which you can adjust some settings. DrawFirstLines - is the number of the first wave, which will build the display. Here are the color settings and mature and predictable waves.

If for some reasons the trader does not suit automatic construction of wave Elliott Wave Prophet, then he can always set the your own the initial conditions. To do this, simply drag the consistently in order of waves on those portions graphics, where a trader sees a clear structure. Then the indicator your own generate possible variant of price movement.

Conduct an analysis of the wave can be a variety of ways. One option might look like this: at the beginning of the trader makes its visual calculation of the wave structure, and then uses the wave indicators to compare. Thus, regardless of the level of training and experience of the wave analyst, Elliott Wave Prophet Indicator will always be a great help in the analysis of market dynamics.

In the archives Elliott_Wave_Prophet.rar:

  • ElliottWaveProphet.ex4
  • Elliott Wave Prophet Indicator.tpl

Free Download Elliott Wave Prophet

Related Post
  • farzin
    Published: 07.02.2015 Reply to the message

    hi , thanks for sharing these great informations.
    I have downloaded this indicator and in prints the waves , but when i move the wave1 , it doesn't correct the rest if them as the way she could correct the position of the waves. can you retest this indicator if it works on mt4 and is correctable? I have tested in multiple mt4 setups and multiple timeframes but no difference. it was not correctable. :(

    • Daniel
      Published: 07.02.2015 Reply to the message

      Strangely. At me everything working

      • farzin
        Published: 07.02.2015 Reply to the message

        I found that when i move a wave then reload the indicators page ( ctrl + I + enter ) it refreshes the chart and calculates new waves.
        or when i move , then right click a chart and select refresh it changes the rest of the waves . maybe there is an option for auto refresh of the charts that is disabled on my machines ?

        • Farzin
          Published: 07.02.2015 Reply to the message

          I fixed it : with adding a autorefresh indicator for every 2000 mS.
          put ==>

          I think the problem is caused because today the market is closed and no new candles come to refresh the chart.

          • moremoney
            Published: 30.08.2015 Reply to the message

            just downloaded, seem to have the same problem.

            maybe because the market is closed.

            well i guess i will find out on monday

          • Daniel
            Published: 30.08.2015 Reply to the message

            Quite right - the market now does not work.

  • moremoney
    Published: 30.08.2015 Reply to the message


    just downloaded this money maker!!

    should I backtest this first or just go ahead and try it?


    • Daniel
      Published: 30.08.2015 Reply to the message

      You should always start with the backtesting or trading on demo. It is an axiom of the trader.

  • Joe
    Published: 05.04.2016 Reply to the message


    I am unable to move the indicator in chart.

  • Zain
    Published: 23.04.2016 Reply to the message

    After attaching on chart my MT4 stops work and get hang :(

  • ashraf
    Published: 08.08.2016 Reply to the message

    thank you

  • Richard
    Published: 08.01.2017 Reply to the message

    Wow.... %) %) This is what I've been looking for.... in fact it better as the ability to move the wave is ACE, seriously well done and thanks for sharing, looking forward to the market open on Monday to take this bad boy for a spin :)

  • Erminio Bi
    Published: 11.02.2017 Reply to the message

    After applying this indicator of mt4, Metatrader stops working.
    How can I avoid this issue?

  • zangar
    Published: 31.03.2017 Reply to the message

    Hello, Please can you assist me?
    I can't download this indicator and have this error message


    • Daniel
      Published: 01.04.2017 Reply to the message

      The lifetime of link 120 seconds. If the after generation of links you are not clicked on the link “Download” within 2 minutes, then reload the page and repeat the process of loading and generation of links again. Thanks.

  • Bart
    Published: 23.05.2017 Reply to the message

    Hey :) i think you didnt read the elliot theory correctly., judging by your screenshots. Wave 1 and 4 arent allowed to overlap. Have a lovely day.

  • izaki
    Published: 03.08.2017 Reply to the message

    do only alpari only this indicator work ,i used insta it cannot transfer to the chart

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