If you are an Elliott wave trader, you need an Elliott wave tool that is suitable for trading. It is not easy to manually complete the Elliott wave theory. However, once you understand its trading principles, Elliott Wave can improve your trading performance much faster. They offer a great approach to solving geometric puzzles in Forex and stock markets. It provides two Elliott wave tools on the MetaTrader 4 platform.
MetaTrader 4 is one of the most popular trading platforms since 2010. Free access to all traders around the world. The platform provides two powerful Elliott wave indicators. Therefore, there are two options for choosing the Elliott wave indicator for trading. These tools are already used in daily work by thousands of professional traders.
1. MetaTrader 4 Elliott Wave Trend
The Elliott Wave Trend is a very powerful Elliott wave indicator. This indicator can be used to count Elliott waves and detect patterns in Elliott waves. All of these are essential steps in predicting the market using Elliott wave theory. In addition to them, it provides built-in support and resistance systems and turning point strength indicators to improve your trading performance. Still, there are many additional features within this technical indicator for exploration.
2. X3 Chart Pattern Scanner for MetaTrader 4
The X3 Chart Pattern Scanner is a dedicated tool for detecting chart patterns such as harmonic patterns and Elliott wave patterns. The pattern detection process is fully automated and you can even create customized Elliott waves and harmonic patterns as needed. However, this is just a short summary. You can find more information and its features from the product page. It is a very unique and powerful tool in the trading world.
In summary, both tools are high performance trading systems. However, if you want to use only Elliott wave trading, you need to select the Elliott wave trend. If you don’t care about both Elliott Wave and Harmonic Pattern Trading, you should use the X3 Chart Pattern Scanner.
Elliott Wave Indicator in MetaTrader 4-Trading System-January 28, 2021
https://www.mql5.com/en/blogs/post/742536?utm_campaign=RSS&utm_medium=display&utm_source=MQL5+EN+Blog Elliott Wave Indicator in MetaTrader 4-Trading System-January 28, 2021