Nelly Elliott Wave Indicator
The Nelly Elliott Wave indicator, used for forex trading, works with MetaTrader 4 to plot Elliott waves on the forex chart automatically using the Nelly Elliott method. Once the indicator is loaded onto the chart, it plots the daily, quarter-daily, weekly, and monthly Elliott wave on the MetaTrader 4 chart. It is:
- A free indicator for plotting Nelly Elliott waves
- Helps plot Nelly Elliott waves
- Assists as much as possible with drawing and identifying Nelly Elliott waves on the chart
- Useful for all currency pairs and timeframes
- Compatibility: MetaTrader 4
The Nelly Elliott Wave indicator uses a single wave to plot all the waves until the price direction changes, using the following colors:
- Monthly Elliott wave: blue-violet
- Weekly Elliott wave: green
- Daily Elliott wave: blue
- Quarter-daily Elliott wave: yellow
All the waves can be turned on and off — just edit the indicator’s inputs and click OK to save the new settings.
Key Points of the Nelly Elliott Wave Indicator:
- Works based on the Nelly Elliott method
- Plots 4 Elliott waves on the chart
- Does not repaint
- Can be used on any pair and timeframe
- Free to use
Settings of the Nelly Elliott Wave Indicator:
The Nelly Elliott Wave indicator shows the daily close time, and it displays settings for showing daily waves, weekly waves, monthly waves, and quarter-daily waves, along with color, width, and style options.
Recommended pairs: any currency pairs, any stocks, any commodities, any cryptocurrencies, gold, and any other commodities
Trading platform: MetaTrader 4 (MT4)
Timeframes: M1, M5, M15, M30, H1, H4, D1, W1
Indicator type: Nelly Elliott Wave plotting indicator
How to Install the Nelly Elliott Wave Indicator:
- Copy and paste the indicator into the MT4 data folder’s indicators directory
- Then restart the MT4 platform and attach it to any chart
- Adjust the settings to suit you, then save them as a template
Disclaimer: This content is for educational purposes only and does not constitute investment advice. Trading forex and CFDs involves substantial risk, including the use of leverage, and results are not guaranteed. This article may contain affiliate links; we may earn a commission if you sign up through them, at no extra cost to you.
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