MetaTrader 5 iPhone/iPad HelpChartObjectsElliott ToolsConstruction of Waves

Construction of Waves

Two objects are available in the platform - Impulse and Corrective waves. To apply waves on a chart, five points should be defined for an impulse wave and three - for a corrective wave. Settings are identical for both objects, but they should be specified separately:

  • Point – coordinates of the anchor point (date/value of the price scale);
  • Degree – select the cycle level influencing also the displaying of point markings;
  • Lines – if this field is selected, all points of an impulse or corrective wave will be sequentially joined.

Common parameters of object are described in a separate section.

Impulse Wave Parameters