How to find Elliot Wave Pattern
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Hello guys and Mr fxdreema.
I am trying to automate the strategy I use manually, but I am having a hard time doing it.
I want to detect a certain wave pattern (using Elliot Waves) and apply Fibonacci retraction to it, then buy or sell depending on the situation.
Here is what I am trying to achieve:
I need to identify point 1 and then point 3, so I can find the possible trend change. Also, I would like to apply Fibonacci Retraction from point 1 to 2, so I can check if point 3 is on the expected range.
I tried using "New top trend" and "New botton trend", but I could not figure it out.
Is it possible? Can you guys help me out? Thanks!
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Oh, I don't know. For this indicators are used I believe. They have settings, algorithms and so on. This is not a task that can be done in one particular way. EAs are mostly used for putting orders, while indicators do the calculations. Well, fxDreema does not produce indicators.
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Alright! Thanks anyway.
I´ll try to use another tool that builds indicators and import them here.
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Hey rafaelgrecco,
Did you ever figure this out? I was trying to do the same thing.
Thanks for any feedback or guidance on this. -
you can do this in fxdreema with zigzag indicator, but you need a lot of time to understand how zigzag is working
probably you need few lines of own code in custom mql4/5 code block, but I am sure it can be done 8-)
