Waves

What is Waves?

Waves is a custom indicator that is based upon the Elliott Wave Theory—a method of technical analysis that has been popular in various financial markets since the mid-1970s. Traders in the US stock market have given particular attention to the theory’s belief that Forex market trends and crowd behavior (particularly the crowd's tendency to push for reversal of price direction after over-ambitious market moves) can be easily recognized in a basic pattern that accounts for five distinct "waves." Of course the complete Elliott Wave Cycle extends far beyond just five basic pattern movements, but essentially even the more complex pattern cycles can be accounted for as simple extensions of the five basic waves.

How Does Waves Work?

Waves plots Elliott Waves right on a Forex trader's charts, along with suggested target levels. As is the case with all of IBFX’s custom indicators and expert advisors, Waves can be customized to match your personal preferences. Traders who are presently plotting their own Elliott Waves will likely find this Forex custom indicator a true time saver.

Files

Indicators Folder
IBFX – Waves.ex4

Download and Installation Process

Step 1: Download the setup file and double click on it. Follow on screen instructions.

Step 2: Select the tools you would like to install, click next. (Make sure to select your MT4 installation folder).

*This setup will not overwrite any previous version of the tools that was already open source*

*If you want the latest version of the open source tools, make sure to rename or delete them*