EW Elliott Wave Easy Counter Script - MetaTrader 4 Script

This simple script enables you to perform basic Elliott wave counting in MetaTrader 4 with a simple drag and drop. The program automatically tracks the waveform you're on, so there's no need to mess around with annoying text objects.

Be sure to check out the Chart Object Removal Tool if you plan to use this script. This will make it easier to delete old wavenumbers.

Parameters and usage

This script has no external user parameters. Parameters must be adjusted from within the source file. The reason for this is to allow easy calculation of wave numbers without hindrance. For most people, being asked to enter something every time you add a tag is undesirable. If you don't like the default settings, be sure to download the source files:

Whenever you change any parameters, be sure to press the "Compile" button when finished.

It may be necessary to have two scripts (for example, one for dominant trend wave counting and one for corrective trend wave counting). This is easy to achieve. There are a few ways to fix this, but probably the easiest is to save as when opening the source code. If you right-click on the script in MetaTrader 4 -> Modify, the source file ElliottWaveEasyCounterScript.mq4 will open. Go to File->Save As and save it as whatever you want (e.g. "EWDominantTrendWaveCounter"). After saving, click the Compile button. You can do this multiple times with different names and different parameters.

Attachment download

📎 elliottwaveeasycounterscript.mq4 (3.44 KB)

📎 elliottwavelabel.mqh (7.28 KB)

Source: MQL5 #10582