Elliott Waves NM is a powerful tool for determining Elliott waves using the method described in Glen Neely’s book “The Mastery of Elliott Wave Analysis”.

Selecting a certain wave (left-click on its end), the table is filled with data. The selected wave is m1 (the analyzed wave). The green lines are the waves m-4, m-3, m-2, m-1, m0, m2, m3, m4, m5, m6 (the waves surrounding the wave m1). The data in the table is the ratio of the corresponding wavelengths as a percentage. Structural labels (such as c3, L5, F3, etc.) are determined automatically, according to the rules described in the book by Glen Neely. Based on the values of the structural labels, you can select certain Elliott shapes.

:F3 – “first three”. The wave with this structural designation is either the first segment of the group that occurs after “x:c3”, or it occurs between two “fives” (: 5).

:c3 – “central three”. It can never be the first or last segment of a sequence.

x:c3 – “the central triple in the X-wave position”. Occurs between Standard Elliott price Patterns, combining simple corrections into larger configurations.

:sL3 – “penultimate three”. This wave must always be followed by a wave with the notation “:L3”. Indicates the formation of a Terminal or Triangle.

:L3 – “the last three”. Must be part of a Terminal or Triangle and therefore must be the last of a sequence of”triples”.

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:5 – “five”. It symbolizes any Impulse Wave that does not complete the Elliott price pattern.

:s5 – “unusual five”. Usually part of a Complex Elliott Configuration, but may be the third segment of a Trend Impulse with a Failed fifth or with a Stretched fifth.

:L5 – “last five”. Always completes the larger Elliott figure. It can also complete several such price patterns at the same time.

The following groups of monowaves can be distinguished:

:5 – :F3 – :?5 -: F3 -: L5 Momentum (trend wave)

:5 – :F3 – ?5 Zigzag (corrective wave)

:F3 – :c3 – :?5 Flat Correction (correction wave)

:F3 – :c3 – :c3 – :?3 – :?3 Triangle (correction wave)

:F3 – :c3 – :c3 – :?3 – :L3 Terminal (final wave)

If the last structural designation of the Correction Series does not contain the position indicator “L”, this series must be compressed into a” triple ” and considered as part of a Complex Correction.

The indicator works on the following timeframes:

• M1-shows the hour mark;
• M5-four-hour marking;
• M15 and M30-day marking;
• H1 and H4-weekly markup;
• D1 – monthly markup.

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