Elliot wave and more than 60 MT4 indicators

Mt4 is considered No.1 choice for a lot of brokers, therefore is considered the most important platform in Forex world. A lot of traders pay more attention to any updates, enhancements or inidcators for MT4.

Here you'll find a link to more than 60 MT4 indicators, the list below includes the available indicators, unzip the downloaded file and put the files in your drive as following
DRIVE

•Pivot_AllLevels.mq4
•Carter MA.mq4
•TradingHours.mq4
•ZigZagFirst.mq4
•ZeroLag MACD.mq4
•ZigZag_Fibo_v2beta.mq4
•ZeroLagStochsSignals.mq4
•TSI Signals.mq4
•WoodiesCCI.mq4
•Show_your_local_time.mq4
•Bollinger Squeez v3.mq4
•Bunnygirl Cross and Daily Open.mq4
•Triggerlines.mq4
•PivotPoints - MT04 - Indicator.mq4
•Vegas Currency Daily.mq4
•Fibo_Pivot_Lines_GMT.mq4
•TD Sequential.mq4
•TestWilliam36HistogramWalert.mq4
•better-murray-math-mm-levels.mq4
•X_profile.mq4
•Range.mq4
•Instantaneous Trend.mq4
•wlxFractals.mq4
•Vertical Lines.mq4
•DailyPivotPoints.mq4
•2EMA_systemv032.mq4
•newMACD.mq4
•TDI.mq4
•Var Mov Avg.mq4
•VSI.mq4

•Support and Resistance.mq4
•WcciPatterns.mq4
•TrendManager.mq4
•Pattern Recognition.mq4
•TradeChannel.mq4
•time to next bar.mq4
•TrendEMA.mq4
•Trend Bands.mq4
•TrendTriggerMod.mq4
•Elliott Wave Oscillator.mq4
•MACD Cross.mq4
•XO.mq4
•WeeklyPivotOnly.mq4
•CandleStop.mq4
•Ultitimate Oscillator.mq4
•Zerolagstochs.mq4
•Three_Color_MA.mq4
•Trend SMC.mq4
•Vegas.mq4
•TTF_hist.mq4
•SilverTrend_Signal With Alert v3.mq4
•Robot_PowerM5-m .mq4
•Paramon_Scalp.mq4
•FIBTunnel.mq4
•FiboPiv_v2.mq4
•ZigZag1.mq4
•Vegas S_P Daily.mq4
•TSI-Osc.mq4
•3colorMACD.mq4
•ZigZag_Fibo_v1beta.mq4


Download from HERE

Live trading with Online Fibonacci Calculator

A lot of traders consider Fibonacci levels is one of the most powerful trading methods, and they pay a lot of attention to Fibonacci numbers and use it for chart pattern trading.

Lately I start to use an online Fibonacci calculatore that gave me a very accurate numbers to recognize charts pattern, here I'll walk step by step for this trade.

First of all you search for a trend with two bull back waves like the one in the first image, like you see it's bullish trend followed by a bullback.

Our target here is to get point (D), getting this level will help too much in the trade, so we submit the wave value to the Fibonacci calculator, lowest point as X, then highest point as A, and the same way we submit (B) and (C), then click "Get Levels" button.

In this trade we got 5 levels, and the reversal point was in the third level, and I got the accurate number for the trade. Check the tool and make your testing with accurate Fibonacci calculator

Chart pattern recognition software

It's recommended to traders specially the beginners to keep a tool or software for chart pattern trading, this tool or software suppose to provide the necessary Fibo numbers for chart trading.

Besides charts recognition, there are online tools that give traders the necessary numbers and help traders to take the right decision about the trades. For example when you find a pattern is forming in your chart, and you're exiting to take it and open a position, in that case you can ask help for such tools to make sure that the price is following a stock pattern, it'll help you to take the decision.

Here you'll find a simple online free tool that will help you to identify which pattern you have in your charts, just fill the boxes with your prices value, and you'll get the pattern name plus the suggested line rejection which will help you to make your stoploose, entry point and targets levels.

By the time you man have the experience to recognize the pattern without any help, and you'll get profit with your own experience, but till then this kind of tool or software still important.

How to Recognize Patterns in Forex

Forex chart pattern trading is one of the most successful trading method in Forex world, all you have to do is to compare the support and resistance levels in your chart to one of charts pattern (Gartley, Bat, Butterfly or crab), if the levels are identical then you have a chart pattern then you apply with your money management to open a position.

It looks so simple to trade using the chart pattern strategy, but still there is a very missed point, the main question here is :"How to Recognize Pattern in Forex", when you get the answer of this question then you have the half way to a successful career as a forex trader.

Charts full of moves that could mislead you to a wrong trades or makes you look at the cart wrongly, then you'll miss a lot of good chart pattern trades, it's important to identify the support and resistance levels and compare it with the Fibonacci pattern levels to make sure that you have a trade, or just ignore the charts because there is no pattern there.

Forex Chart Pttern Recognition Tools

Some traders need to work with a pattern recognition tool, or kind of pattern scanner tool the check the levels you have and compare it with the pattern levels then gives you some suggestions about your trade.

Check this online tool scanner, this tool calculates your levels and tell you where are you from a chart pattern, all you have to do is write your main wave values, then the support and resistance levels you got, the tool will help you to write the Fibonacci levels you have and suggest you the nearest pattern that could work with your values.

When you got a valid pattern with levels that identical with any chart pattern then you can identify your entry point, exit point and your targets points.

How to Draw Fibonacci Retracements

Since you're already here then you already know how Fibonacci is important in Forex trading world, and all you want to know as I guess is "how to draw Fibonacci Retracements" accuracy to get the correct numbers for your trades.

What makes Fiboancci levels so important is that Fibnoacci is playing the main rule in harmony pattern trading, when you get the support and resistance levels using fibo tool, then you'll find out which pattern is forming, you can easily identify if is it gartley pattern, butterfly pattern, Crab Pattern or bat pattern.

Well, here we'll give you the example using MT4, using the same concept will give you the same result in any other platform, it all about how to use it, no where to use it.

First look at your wave in your charts, this wave has a start and end point, click the Fibonacci icon in your tool bar, or click Insert>Fibonacci>Retracement, if your wave an up trend wave, then make a click in the lowest point of the wave and drag to the top, if your wave is a down trend wave, make a click in the highest point and drag to the lowest point, then automatically you'll find the support and resistance levels drawn and you can apply your pattern strategy to start your calculations and trading.


How to Draw Fibonacci Retracements on Metatrader4 - Watch the top videos of the week here

Learn Gartley pattern Trading

Wherever you search about Gartley pattern you get the same points and rules, which could lead you at the end to nothing, here we’ll try to walk with you step by step with the small movie below to make you closer to the Gartley pattern trading world.

Start by an impulsive wave, every wave must be followed by a serial of bull back small moves, traders analyze these small moves and determine when and where the market will start a new trend.

We’ll take the trend in the movie as a case study, the chart we have is for AUD/USD daily time frame, among the bars there is a bearish 4 bars followed by small bullish bar, To see the picture more clearly we have to go to smaller time frame.

When we open the same bars in 4 hr the picture is more clearly, we saw in the daily time frame just 4 bars which in 4hr chart is a strong bearish trend, now the picture is much better.

By using Fibonnaci retracement tool we have for this trend, we found that there is a resistance in 61.8 Fibonacci level, another one in 78.8 level, and one resistance level, this is Gartley pattern, it could be read as a 61.8, 61.8, 127, below you’ll find a list for all the potential Gartley patterns value that you’ll meet in your trading world

You can use online tool to determine the category of your pattern and the potential support and resistance level for your trade.

Sample of Gartley Pattern Values

0.618/0.618/1.414
0.618/0.618/1.618
0.618/0.707/1.270
0.618/0.707/1.414
0.618/0.707/1.618
0.618/0.786/1.270
0.618/0.786/1.414
0.618/0.786/1.618

When NOT to Trade

Why NOT to Trade

Just take a side, there is no trade zone here, no trade zone for me, all these words mean DON NOT trade, you may hear such words from professional traders from time to another, if you don't hear it, then professionals don't say every thing to you.

I think one of the most important reason that makes people fail with Forex trading, is that they trade in the wrong time, simply they don't choose the right time to open a position, what I mean by "Right time" is not what time in the day, no, what I mean that it could be days or even weeks.

You may have your own system that tested and works fine, you know when to open a position, when to close, exits and take profits, and every thing is just fine, but suddenly day after day you lose, you don't make any profits, the system performance is decreased, and you're asking what happened??

When to Trade

Simply your system in incomplete, it doesn't tell you "When not to trade" the market must be have the necessary move and liquidity to make money, if you have no moves in the market then how can you make money, you may see up and down moves, but if you calculate the daily pips, you'll find out that pips could be done in few hours in another day, which means that the market not moving, then Don't trade and stay away from the market.

Volume Indicators

There are indicators that could help you to know the market condition, for me I'm using Volume indicator, if the volume went after a specific level, then I'll take a rest and not to trade then keep my money as is, any trade under that level it'll be risky, even if I get profit, it'll be very small profit that doesn’t deserve the risk, take a another look at your system and consider the market condition before opening any positions.

Chart pattern recognition

Chart pattern recognition is the half way to a successful pattern trade, the key here is how do you look at the charts, I checked tools and software that could help you recognize patterns in the chart, but believe me nothing work like human eyes, so just try to train yourself to analyze the chart and get the pattern out of it.

To help you more to start looking at your charts with a different way, let's think about it for a second, if we look at Gartely, Bat, and butterfly pattern we'll find that it'll come after an impulsive wave, then if you have a strong wave that forms an Elliot Wave, then your role starts after the fifth wave, when you see a strong bull back starts to form, in this case, it'll be your turn to make your setup, use any trend indicators will help you to know how the markets moves.
I'm using a technique helps me a lot to recognize chart patterns, when there are a strong up or down trend, I look at pattern in the opposite way, yes against the trend, and I think it makes more sense, because the end wave goes in the same start wave direction, so if there is a down trend, then it make more sense to trade the opposite way, any way, it make sense for me, and works fine.

Viewing the charts in a higher timeframe will give you a clue about the market directions, try to draw support and resistance lines in the higher time frame, that'll guide you to see patterns more clearly.

The above tips will guide you to look at your charts with a different way, keep monitoring your charts moves, use Fibonacci levels to study the potential support and resistance levels, and by the time you'll learn more about charts pattern.