Elliot Wave Calculator with Graph

Elliot Wave Calculator: Step by Step

Our Elliot Wave Calculator is a sophisticated yet user-friendly tool designed to help traders and analysts forecast market trends based on Elliot Wave Theory. Below, we guide you through the process of using the calculator, ensuring that you can interpret the inputs and results for effective trading decisions.

1. Gather and Input Required Price Points: To begin, you will need three critical price points from the price chart of the asset you are analyzing: High: The highest price reached during a particular time period, Low: The lowest price reached during the same time period, Close: The closing price of the asset for that time period. These values are fundamental as they represent the extreme ranges and the final price that will be used as a benchmark for calculating wave patterns. Once you have these values, input them into the designated fields on our Elliot Wave Calculator
2. Define the Trend Direction: Before calculation, you must define the prevailing trend direction of the market. Up/Down Trend Selector: Choose whether the asset is currently in an uptrend or downtrend. This will affect the calculation of impulse and corrective waves.
3. Calculate the Waves: With the data entered and the trend direction selected, you’re ready to perform the calculation. The calculator applies the Elliot Wave calculation formula to your inputs.

Understanding the Results

Impulse Waves Output

The results for impulse waves are displayed, corresponding to Waves 1 through 5:

• Wave 1: Often the weakest and shortest wave, signaling the start of a new trend.
• Wave 2: A retracement of Wave 1, not surpassing the start of Wave 1.
• Wave 3: Typically the longest and most robust wave, pushing prices further in the trend direction.
• Wave 4: Another retracement that does not overlap with the price territory of Wave 1.
• Wave 5: The final push, often exhibiting signs of exhaustion in the trend.

Corrective Waves Output

Corrective waves are presented for Waves A, B, and C:

• Wave A: The initial correction wave against the trend.
• Wave B: A partial retracement of Wave A, which can sometimes mimic the trend, causing confusion.
• Wave C: The final wave that usually extends beyond the end of Wave A.

For an easier understanding you can see all waves and price points in the elliot wave result graph.