A complete list of the best Elliott Wave software providers 2022

As there is no single universal Elliott wave trader and instead there are numerous options you can find any level of pricing you are looking for. However, the free Elliott Wave traders will offer limited functionalities and thus you would have to intervene manually for conducting analysis. The premium solutions start from 250 US dollars but for a lifetime access license. Some of the best Elliott Wave software choices with a great value for price are SWAT, WaveBasis, ELWAVE, and MotiveWave. Most of these platforms offer various subscription plans and paid packages. Some of them even provide free software and trading tools like MotiveWave.

  • MTPredictor’s Elliott Wave software will help you identify low risk/high return trades quickly and easily, helping you to maximise your profits and cut your losses.
  • For charting styles you can choose between line style, OHLC bars and Candle Sticks charting styles and customize colors and spacing.
  • Elliott Wave theory offers some of the complex and significant insights into market participants’ behavior and price trend lines which every intermediate and advanced trader should be aware of.
  • Leadingtrader and Simpler Markets Ltd is not an investment advisory service and does not make any recommendations to buy or sell any stocks, futures, forex, options or any financial instrument.
  • The platform includes a version for Windows or Mac , which makes it appealing for Apple users, and also Linux.

Weis Wave Volume is one of the most stable and accurate indicators for trend identification. Our team gathers a vast amount of information and comes up with some of the simplest and easiest trading strategies to follow each week. Ralph Nelson Elliott was a professional accountant born in 1871 who developed what is known today as being the Elliott Wave theory. The Elliott Wave Principle by Ralph Nelson Elliott reveals in detail his theory about market behavior and how prices in any market move in specific patterns. In the above figure, we highlighted the ideal place to hide your protective stop loss.

Buy and sell orders can be placed directly from the option table by clicking on the Buy/Sell buttons that are next to each Put/Call pair. Once your free trial ends, if you do not purchase any MotiveWave product, you will be automatically switched over to the FREE Community Edition. You’ll have full access to all of the trading software features found in the Ultimate Edition during the trial. When it comes to charting and other basic functionality, ELWAVE offers everything you would expect from a professional charting application. For charting styles you can choose between line style, OHLC bars and Candle Sticks charting styles and customize colors and spacing.

Elliott Wave, Price & Time Projections*

We encourage you to find your own set of rules because once you have a firm understanding of how to trade Elliott Wave you can develop many Elliott Wave strategies around it. Now, we can note that wave four retraces a little bit above the 50% retracement. With trading experience, it will become much easier to spot the Wolfe wave patterns. The bullish Wolfe Wave is a reversal trading pattern that naturally occurs during a downtrend. As the name implies, the bullish wave signals a change in the trend direction from bearish to bullish.

With this information you can easily decide whether or not a trade makes sense for you. Even if you don’t know anything about Elliott Wave you will quickly learn how to use this information to your advantage. The information in the Summary can also be used to scan an entire universe of symbols to look for opportunities to trade; more on that in the section entitled Scanning and real-time monitoring below. The Watermark and Copyright features are available in the Professional and Ultimate Editions only. Current positions and profit/loss are also visible on the table for each option.

It also gives traders the opportunity to access different types of guides on trading markets, to further enhance their knowledge and understanding of Forex trading. It comes with an amazing 46 percent win rate and is capable of providing traders with 7 percent monthly returns, with just a 2 percent risk per trade. At the end of your first year, after buying the Purchased License, you can stay on the version available at that time, use it indefinitely, and not pay anything else.

Support and updates

Instead of the chaotic and unpredictable manner in which everyone considered the market trends to behave he identified an intrinsic narrative. These cycles represented the predominant emotions of investors worldwide and reappeared on the market from time to time. The upward and downward swings were the reflections of the traders’ emotions and these swings got the name of “waves”. To assist traders in using the theory, many software providers have created special programs that can be used specifically for wave counting. The above-discussed programs are some of the best ones available in the market. The list of tools offered by the software is of a very high quality, which can match the style of many traders.

The Momentum-based ZigZag does not repaint, meaning it does not recalculate the bars, the downside being that a messy market could result in a lot of contradictory signal bars. It is a form of technical analysis that is based on investors sentiment and psychology. In a complete Elliott Wave cycle, impulse waves have 5 ebitda growth rate waves and correction waves have 3 waves. Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated – therefore anyone considering it should be prepared to lose their entire investment. Investing carries risk of losses, the market service that never makes mistakes does not exist.

Finally, at the stage of wave five, a few short-sellers will enter the market to start another sell-off, however, it will not be enough to sustain another rally and will eventually bottom out. With years of experience in the market, WaveBasis is an amazing tool for traders to use. WaveBasis is a great option for both experienced and beginner EW analysts, as it offers numerous additional tools to make your job easier.

You can have more gauges in a panel than you can on a chart, and these gauges allow built-in or custom study values. A Price Alert (an alert for when a price for a particular instrument has been reached), does not require a chart in order to execute. Price Alerts accumulation distribution indicator can be created directly from the Alerts panel or from the Price Axis of a chart. Simple Price Alerts are included in all of the current MotiveWave editions. ECS does not gain or lose profits based on your trading results and operates as an educational company.

Charting and Trading Software

However, the Elliott Wave theory is a unique concept that has been brilliant in describing the fractal nature of various financial markets. The theory is widely accepted nowadays and actively used in the day-to-day trading of both beginner and expert traders. The main application of the theory for any trader is to detect the presence of the most destructive wave formation which later can be used in one’s favour. Importantly, EW theory is rarely used as a stand-alone approach and is often combined with the principles of Fibonacci ratios or other Support & Resistance levels. MotiveWave is considered to be one of the best Elliott Wave software providers available in the market today.

This platform is fully web-based and allows traders to count the waves both manually and automatically. MotiveWave software is one of the most established and easy-to-use charting, analysis, and trading programs created for individual traders. MotiveWave is known for featuring highly-effective advanced charting and drawing solutions, which are very easily customized. For example, show a Trend Line only on bar sizes smaller than or equal to 1 hour and a Comment only on the current bar size of 1 day. Simply click on the page tab at the bottom of the console window to go to that Page.

In this article, we will discuss how to use and evaluate retracements in the wave analysis. Trade management, automated trading, and programming all meet the requirements of professional trading. Some things take some getting used to and could be improved, especially for inexperienced programmers.

The Community Edition

The Order Flow MotionWave edition, a full-featured trading platform, costs 595 US dollars for a lifetime license, and similar to the Standard edition it needs no upgrades, as well. The PRO advanced trading platform of the MotionWave software requires 1,495 US dollars to purchase a lifetime license. The Elliott Wave Lite trading platform costs a bit less than the Pro edition – 1,395 US dollars with a lifetime license. Finally, the full-features advanced trading and Elliott Wave platform Ultimate edition comes with a price of 2,295 US dollars for a lifetime license.


Community Edition currently has 280+ built-in studies and indicators, with more always being added. Automatic wave counts, and innovative companion tools to streamline manual wave counting. I signed up on your program and am very impressed with the innovative yet simple Elliott wave analysis tool. However, before deciding to participate in Foreign Exchange (FX) trading, you should carefully consider your investment objectives, level of experience and risk appetite. Remember that software’s past performance does not ensure future results and you may lose some or all of your invested capital.

The ultimate Elliott Wave analysis

If you have a question about how to use the software or are experiencing an issue, please contact our Support Team. This support is only available on the trial and paid editions (not the free Community edition). You can always purchase the optional Additional 1 Year of Updates at any time to get instant access to the latest version and you do not need to pay for any ‘missing back years’. bp shares buy sell You can connect to as many of our supported brokers and data service providers as you like. Access to our Support Team and all updates we release for the software for 1 Year from date of purchase, or if you have time left on your support life, it will be added on to your existing time. Most impulses in a motive contains extensions, an elongated impulse with exaggerated subdivisions.

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