---
title: "Elliott Tools - Analytical Objects - Price Charts, Technical and Fundamental Analysis - MetaTrader 5 Help"
description: "Elliott tools can be applied to a price or indicator chart using the \"Objects — Elliott\" items of the \"Insert\" menu or the... - Elliott Tools - Analytical Objects - Price Charts, Technical and Fundamental Analysis"
image: "https://www.metatrader5.com/i/logo_metatrader5.png"
url: "https://www.metatrader5.com/en/terminal/help/objects/elliott"
---

[MetaTrader 5 Help](https://www.metatrader5.com/en/terminal/help) → [Price Charts, Technical and Fundamental Analysis](https://www.metatrader5.com/en/terminal/help/charts_analysis) → [Analytical Objects](https://www.metatrader5.com/en/terminal/help/charts_analysis/objects) → Elliott Tools

# Elliott Tools

Elliott tools can be applied to a price or indicator chart using the "Objects — Elliott" items of the ["Insert"](https://www.metatrader5.com/en/terminal/help/startworking/interface) menu or the ["Line Studies"](https://www.metatrader5.com/en/terminal/help/startworking/interface) toolbar.

Two types of Elliott tools for displaying waves are available in the platform:

|  | Type | Description |
| --- | --- | --- |
| ![Impulse Wave](https://www.metatrader5.com/i/help/terminal/en/elliott_motive_wave_icon.png) | Impulse Wave | According to Elliott's theory, impulse waves create a directed trend (bull or bear) and cause the market to move very actively. Five points are necessary to draw this tool. |
| ![Elliott Correction Wave](https://www.metatrader5.com/i/help/terminal/en/elliott_corrective_wave_icon.png) | Elliott Correction Wave | Corrective waves (rollbacks) are characterized by moving against the trend. |

Section ["Elliott Wave Theory"](https://www.metatrader5.com/en/terminal/help/objects/elliott/elliott_theory) features theoretical aspect of working with these objects. Practical details are described in section ["Construction of waves"](https://www.metatrader5.com/en/terminal/help/objects/elliott/waves_applying).

## In this section

- [Elliott Wave Theory](https://www.metatrader5.com/en/terminal/help/objects/elliott/elliott_theory)
- [Construction of Waves](https://www.metatrader5.com/en/terminal/help/objects/elliott/waves_applying)

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