eWaves in Action

31/1/2014

I get many requests from eWaves users to post examples of how to trade with the indicator. Here is a perfect recent example of how you could have made 60 pips with a 30 pip SL.

Price formed a clear Wave 3 then pulled back to the BRN at 1.1100 and bounced straight back up, to form what eWaves sees as a Wave 4. Further confluence for support was provided by the D1 SR level (in white).

With the clear down-side rejection at Wave 4 and double support levels, we had a high-probability trade staring us in the face. Entry just above the bar shown, with TP set a few pips below the TZ1 level. Reward twice the risk and a stress-free trade .

You could also have traded the Wave 5 short for another 30 or so pips.

Happy days :)

6 Comments

Fran RAMA

21/3/2014 02:02:39 am

Hi Steve,

I am an AIMSTER happy user of EWAVE -for me the BEST MT4 indi!!!)
Soppting wave 3, 4 &5 is perfect using ewave. I understood that it is possibe to spot wave 1 2 and 3 as well using multi time frames (?) If this is true, how could this be achieved please???

Thx/KR
Fran

Steve

21/3/2014 06:33:10 am

Hi Fran

I'm glad you like eWaves - couldn't agree more about it being the best MT4 indi ever :)

I have a multi-timeframe version in development but, due to other projects, it's on hold for now. I hope to get back to it one of these days. Wave 1 is difficult to spot even for Elliott Wave masters but knowing it's an impulse wave and that it comprises 5 waves, you could use eWaves from a lower timeframe to identify it. Similarly, a simple Wave 2 is an ABC correction with the C leg also comprising 5 waves - again you could use eWaves from a lower timeframe to identify a possible end to Wave 2.
I hope that makes sense and answers your question.
All the best
Steve

narek

9/3/2016 08:05:26 pm

hi
i want download the eWaves in Action indicator ...
but not downloades,
can you help me?

Steve

9/3/2016 09:12:18 pm

You can download it from the Indicators tab of this website :)

DA MAIA SANDRA

3/7/2016 07:43:48 pm

Hello,
can help me because I can not seem to use the EWAVES indicator. have devised an installation on MT4
thank you in advance

Steve

3/7/2016 08:01:04 pm

Hi Sandra. Please use the contact form on my website for support but before you do, please try the following:-
Load the eWaves indicator on to a plain chart with no other indicators.
Switch timeframes to see what happens
Read the manual on my website for an explanation of the options
Check out the various blog posts to see how eWaves can be used for trading
Perhaps also wait for the markets to open so you have tick data

All the best
Steve

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eWaves in Action

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