Elliott wave – can anyone actually trade it ?
Simplified Elliott wave analysis controlling the risk for real traders
Elliott wave is a unique form of market analysis, developed by R. N. Elliott in the 1930’s. Since then, numerous Elliott wave software programs have used his wave analysis techniques. Despite promising a lot, many Elliott wave forecasts and approaches have failed to deliver, why ?
At MTPredictor we believe we have the answer.
MTPredictor uses Elliott wave analysis in a truly unique manner it identifies Elliott wave patterns in isolation and only if a valid Elliott count is present.
It is software that enables you, the trader, to identify trade set-ups without needing a complete historical analysis of a market or the added confusion of multiple time-frames. This solves one of the main Elliott problems, labels sometimes appearing to work, sometimes not. The traditional way of dealing with this is by using alternate wave counts, we believe this leads to more questions than answers, so we never use alternatives.
Elliott wave analysis in the MTPredictor software is applied in isolation, and only when a valid (and clear) wave count is present on the chart!
What does this mean for you, the trader ?
Firstly, it means that the Elliott counts placed on the chart are applied automatically by the software. Most traders find it difficult to place valid Elliott wave analysis and wave counts on a chart consistently, even then, it takes time. This is where MTPredictor will help you it will place a valid (and only a valid) wave count on the chart for you automatically with a mouse-click. This makes Elliott wave extremely easy to apply.
Secondly, MTPredictor has isolated one specific Elliott wave pattern, the simple ABC correction, and made it the centre of the automatic trade selection module in the software. It is the basis for 4 of our 5 automatic trade set-ups.
This means the software helps you to 1) identify this ABC wave pattern 2) analyze the risk/reward and project profit targets and 3) calculate your Position Size, all from a simple, quick mouse-click.
If you have trouble with Elliott wave, you’re frustrated at ever-changing wave counts, confusing and misleading alternate counts, unreliable forecasts or even find it difficult to place wave counts on a chart, take a look at MTPredictor.
Developer Steve Griffiths has used over 30 years’ practical experience to filter out Elliott wave confusion and develop software which places counts automatically on your charts, which do not change when you are open-trade and are not optimized (see Definitions). Steve Griffiths Isolation Approach is unique and makes using Elliott Wave with clear Risk Control a reality.