Forex BeST Elliot Wave Oscillator MT4 Indicator

Forex BeST Elliot Wave Oscillator MT4 Indicator:

About the Forex BeST Elliot Wave Oscillator MT4 Indicator

BeST_ Elliot Wave Oscillator Strategies is an MT4 indicator which by default is the difference of two SMAs displayed as a histogram fluctuating around zero while a Signal Line generates Entry Signals either in a Reverse or in a Normal Mode and it is a very powerful tool generating big profits as very often exploits huge market movements.

Signal Line comes in 2 types:
  • Advanced Get Type – like the corresponding one used in the homonym analysis package
  • Mov. Average Type – as a Moving Average of the Elliot Oscillator

Indicator’s features

  • Easy to trade producing clear Entry signals displayed as Arrows at the EWO and its Signal Line crossing points
  • Not repainting or backpainting Signals
  • Uses 4 selectable and fully configurable Entry Filters of common use
  • Customizable colors and sizes
  • It implements performance statistics (mainly for the Reversed Entries Mode)
  • It implements all MT4 Alerts (sound/message,email,push notification)

Input Parameters

Basic Settings

  • Elliot Oscillator’s Signal Type – select Signal’s type
  • Reverse_Entries Mode – select Entries Mode (Reverse or Normal)
  • Oscillator’s parameters – select MAs forming EWO parameters
  • Signals’ parameters – select Signal Line parameters

Entry Filters Settings

  • Entry_Filter – select  Filter Type (Inactive by default)
  • Single MA_Filtering Method Settings
  • Two MAs_Filtering Method Settings
  • MinCrossingPercentage_Filtering Method Settings
  • ADXPMDI_Filtering Method Settings
Level Settings
  • Level Value – select Oscillator’s Level value (by default is the Zero-Line)

Displaying Settings – select which chart objects and features to show/activate and select the color, size and distances of drawn objects

Arrows Settings – select Entry arrows / signals features

Alert Settings – for controlling the use of all MT4 alerts

For EA Developers

  • Buy Arrows:    Buffer = 2
  • Sell Arrows:    Buffer = 3

Test results:

Forex BeST Elliot Wave Oscillator MT4 Indicator

Copy and paste the file into the MQL4 Indicators folder of the Metatrader 4 trading platform.

You can access this folder from the top menu as follows:

File > Open Data Folder > MQL4 > Indicators (paste here)

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