The Elliott wave pattern is a common geometric pattern used in forex and stock market trading. In the 1980s and 1990s, this approach was considered a fairly complex trading strategy. However, as with personal computer development, there are many automated tools for detecting Elliott wave patterns. This means that this sophisticated trading strategy is accessible to the average trader with the help of automated tools. Here is a list of several articles that give insights on the trading of Elliott wave patterns.
1) How Elliott Wave can improve trading performance
2) Elliott Wave Trend-Basic Tutorial 1
3) Elliott wave trend
The Elliott wave trend is a very powerful indicator. You can count Elliott waves and detect patterns of Elliott waves. In addition to them, it provides accurate support and resistance systems built in to improve your trading performance.
4) X3 chart pattern scanner
The X3 Chart Pattern Scanner is not entirely an Elliott wave tool, but it does have some Elliott wave pattern features (it can detect harmonic patterns, Elliott wave patterns, and X3 patterns). Primarily, the X3 Chart Pattern Scanner is a dedicated tool for detecting chart patterns such as harmonic patterns and Elliott wave patterns. It’s the perfect tool for using both harmonic and Elliott wave patterns in one tool. In addition, the pattern detection algorithm in the X3 chart pattern scanner can be customized using the RECF notation shown in the link below.
Here is the link to the Profitable Pattern Scanner
Trading Elliott Wave Pattern-Trading System-December 31, 2020
https://www.mql5.com/en/blogs/post/742209?utm_campaign=RSS&utm_medium=display&utm_source=MQL5+EN+Blog Trading Elliott Wave Pattern-Trading System-December 31, 2020