MetaTrader 5 HelpPrice Charts, Technical and Fundamental AnalysisAnalytical ObjectsElliott 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:

Impulse Wave Parameters

  • Anchor Point — select one of points for plotting an impulse or corrective waves;
  • Date/Value — coordinates of the selected 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.