ON Trade Elliot Wave Manual – The Great Elliott Wave Analysis Tool

Description

The ON Trade Elliot Wave Manual indicator is a powerful tool designed to enhance your Elliott Wave analysis. By seamlessly integrating with Elliott Wave theory, it provides traders with both automatic and manual wave-drawing capabilities. This indicator simplifies the process of identifying motive waves, corrective waves, and potential reversal zones, making it an essential asset for traders who rely on wave-based market structures.

Whether you are a beginner learning Elliott Wave theory or an advanced trader refining your strategy, this indicator can help automate wave detection or allow precise manual wave plotting.

Key Features

1. Automatic Elliott Wave Detection

• The indicator autonomously detects the five motive waves and plots them on the chart.
• Identifies potential reversal zones and predicts future price movements based on wave structures.
• Sends alerts and push notifications when significant Elliott Wave formations appear.
• Streamlines wave analysis, saving time and effort.

2. Manual Wave Drawing Mode

• Traders can manually draw Elliott Waves with nine different wave grades.
• Customize wave structures by adjusting lines directly on the chart.
• Saves drawing data in the platform’s database for future reference.
• Ideal for traders who prefer hands-on wave labeling.

How to Use ON Trade Elliot Wave Manual

Automatic Mode

1. Attach the indicator to your chart.
2. The system will automatically identify Elliott Wave structures.
3. Observe key wave formations and reversal zones.
4. Enable alerts to get notified of new wave formations.
5. Use the indicator’s predictions to refine your trade entries and exits.

Manual Mode

1. Switch to manual wave drawing mode in the settings.
2. Use the built-in nine-grade drawing tool to map waves on the chart.
3. Adjust the wave lines based on price action.
4. Save your wave structures for later reference.

Indicator Parameters

Customization Options

• Use_System_Visuals – Matches indicator themes with your platform style.
• Explain_Comment – Enables wave numbering explanations.
• Show_Last_Candle_Counter – Displays a countdown timer for the current candle.

Wave Display Settings

• Basic_Wave_Color – Sets the default color for waves.
• Bullish_Wave_Color – Defines color for upward motive waves.
• Bearish_Wave_Color – Defines color for downward motive waves.
• Correction_Color – Sets the color for corrective waves.
• PRZs_Color – Defines color for Potential Reversal Zones (PRZs).

Alert and Notification Settings

• Send_Alert – Enables real-time trading alerts.
• Send_Notification – Sends push notifications to your device.
• Send_Email – Configures email alerts for wave formations.

Wave Analysis Parameters

• Show_Targets – Displays price targets in automatic mode.
• History_Bars – Defines the number of historical bars to analyze.

Why Use ON Trade Elliot Wave Manual?

✅ Accurate Wave Analysis

Detects Elliott Wave patterns with precision, enhancing market prediction.

✅ Combines Automation and Manual Analysis

Gives traders the flexibility to auto-detect waves or manually customize them.

✅ Real-Time Alerts and Notifications

Ensures traders never miss an important wave formation.

✅ Fully Customizable

Adjust colors, styles, and settings to match your trading strategy.

✅ Saves Time and Effort

Eliminates the need for manual Elliott Wave calculations, allowing traders to focus on execution.

Best Practices for Trading with Elliott Wave Theory

To maximize the potential of the ON Trade Elliot Wave Manual, consider these trading tips:

🔹 Combine with Support & Resistance – Use Elliott Waves alongside support and resistance zones for more reliable trade setups.
🔹 Use Fibonacci Retracements – Elliott Wave theory works best with Fibonacci retracement levels to confirm wave formations.
🔹 Apply Multi-Timeframe Analysis – Check wave patterns on higher timeframes to validate market trends.
🔹 Implement Risk Management – Place stop-loss orders based on Elliott Wave structures to control risk.

Final Thoughts

The ON Trade Elliot Wave Manual is an essential tool for traders who follow Elliott Wave analysis. Whether you prefer a fully automated approach or want to manually label waves, this indicator provides unparalleled flexibility and accuracy.

With customizable settings, real-time alerts, and advanced visualization, this tool can significantly improve your wave-based trading strategy.

👉 Start integrating Elliott Wave analysis into your trading today with the ON Trade Elliot Wave Manual!

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