Tradehook.tech-MTMGBS-Waves

Semi-automated Elliott Wave analysis identifying potential 5-wave impulse structures and 3-wave corrections.

Key Features

Elliott Wave detection

5-wave impulse identification

3-wave correction detection

Wave labeling

Fibonacci projections

About This Indicator

Tradehook.tech-MTMGBS_Waves

Elliott Wave & Impulse/Correction Detection

Category: Waves | Overlay: Yes | Complexity: ⭐⭐⭐⭐⭐

Description

Waves provides semi-automated Elliott Wave analysis, identifying potential 5-wave impulse structures and 3-wave corrections.

Wave Validation Rules

Wave 2 cannot retrace more than 100% of Wave 1
Wave 3 cannot be the shortest impulse wave
Wave 4 cannot overlap Wave 1 territory
Wave relationships follow Fibonacci ratios

Best Use Cases

✅ Determine current market position in cycle
✅ Project wave targets using Fibonacci
✅ Identify wave 3 (strongest) opportunities
✅ Anticipate corrections for entries

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