Based on conditions and parameters here is your indicator in MT5xard777 wrote: Sun Dec 14, 2025 1:11 am HI, Can you list the conditions and parameters???
Best
Xard777
Elliott Wave Pro v5 Enhanced Indicator - Complete Summary
Overview
This is a sophisticated Elliott Wave pattern recognition and analysis indicator for MetaTrader 5 that automatically detects, validates, and visualizes Elliott Wave patterns with advanced multi-timeframe context and probability scoring.
Key Features
1. Pattern Detection
Automatic Elliott Wave Recognition: Detects 5-wave impulse patterns (0-1-2-3-4-5)
ABC Correction Patterns: Identifies corrective A-B-C patterns following impulses
Multiple Pattern Support: Can track and display multiple patterns simultaneously
Real-time Analysis: Updates automatically on new bars or at configurable intervals
2. Advanced Validation System
Strict Elliott Rules Enforcement:
Wave 3 cannot be the shortest wave
Wave 4 cannot overlap Wave 1 (except for diagonals)
Wave 2 cannot retrace beyond Wave 0
Fibonacci conformity checks
Configurable Strictness: Toggle between strict/relaxed mode
Diagonal Pattern Support: Optional allowance for diagonal patterns
3. Multi-Timeframe Analysis
Higher Timeframe Bias: Incorporates H1 and H4 timeframe analysis
Market Context Integration: Considers broader market trends
Trend Strength Assessment: Determines if market is trending or ranging
4. Intelligent Scoring System
Composite Score (0-100) with weighted components:
30% Fibonacci Conformity: Wave retracement and extension accuracy
15% Volume Confirmation: Volume increase during impulse waves
20% Momentum Alignment: Price movement consistency with wave direction
15% Time Symmetry: Proportional wave time durations
20% Market Context Alignment: Agreement with higher timeframe bias
5. Technical Components
Pivot Point Detection: Advanced swing point identification with ATR filtering
ATR-Based Filtering: Minimum swing size based on market volatility
Volume Analysis: Volume confirmation for pattern validity
Trend Analysis: Moving average-based trend determination
6. Visualization Features
Complete Wave Drawing: Automatic drawing of wave labels (0-5 or A-B-C)
Fibonacci Levels: Displays key Fibonacci retracement levels (23.6%, 38.2%, 50%, 61.8%, 78.6%)
Price Targets: Projects wave 5 completion targets
Statistics Panel: Real-time display of market context and pattern information
Color Coding: Different colors for bullish/bearish and impulse/corrective patterns
7. Alert System
Configurable Alerts: Audio, visual, and push notification options
Quality Thresholds: Only alerts on high-scoring patterns (≥70/100)
Pattern Status Alerts: Notifies on confirmed patterns
8. Performance Optimizations
Refresh Rate Control: Configurable update frequency (default 500ms)
Auto-update Toggle: Process only on new bars or continuously
Memory Management: Automatic cleanup of old drawing objects
Efficient Search: Configurable search depth to balance accuracy/speed
Input Parameters
General Settings
Auto-update, alert systems, refresh rate control
Pattern Detection
Pivot confirmation bars, minimum/maximum pivots, ATR filtering
Wave Rules
Strict mode, diagonal allowance, Fibonacci retracement ranges
Multi-Timeframe Analysis
Higher timeframe selection, analysis depth
Display Settings
Color schemes, line styles, visibility toggles
Advanced Scoring
Weight adjustments for different scoring components
Output Information
Visual Outputs
Wave Labels: Numbers (0-5) for impulse waves, letters (A-B-C) for corrections
Trend Lines: Connecting wave pivot points
Fibonacci Levels: Horizontal lines at key retracement levels
Price Targets: Projected completion levels for Wave 5
Statistics Panel: Market context and pattern information
Text Information
Pattern Score: Quality assessment (0-100)
Market Bias: Bullish/Bearish/Neutral based on multi-timeframe analysis
Volatility: Current market volatility percentage
Trend Status: Trending/Ranging determination
Pattern Count: Number of detected patterns
Algorithm Flow
Data Collection: Gather price, volume, and time data
Pivot Detection: Identify swing highs/lows with ATR filtering
Market Analysis: Assess multi-timeframe context
Pattern Search: Scan for valid Elliott Wave sequences
Validation & Scoring: Apply rules and calculate quality scores
Visualization: Draw patterns, Fibonacci levels, and information
Alerting: Trigger notifications for high-quality patterns
Technical Advantages
Accuracy Improvements
Multi-factor validation beyond basic Elliott rules
Market context consideration reduces false signals
Volume confirmation adds reliability dimension
Time symmetry analysis improves pattern identification
Performance Features
Configurable search depth balances speed/accuracy
Efficient memory management prevents resource leaks
Real-time optimization with refresh rate control
Selective drawing based on pattern quality thresholds
User Experience
Clean visualization with organized information display
Configurable appearance to suit different trading styles
Comprehensive alerts for timely notifications
Clear statistics for quick market assessment
Use Cases
For Traders
Pattern Identification: Automatically spot Elliott Wave setups
Trade Confirmation: Use pattern scores for entry/exit decisions
Market Analysis: Understand broader market context
Risk Management: Use Fibonacci levels for stop-loss placement
For Analysts
Technical Analysis: Enhance manual Elliott Wave analysis
Backtesting: Historical pattern identification and analysis
Market Studies: Research wave characteristics and probabilities
Strategy Development: Build trading systems around detected patterns
Limitations & Considerations
Not 100% Predictive: Elliott Wave theory is probabilistic, not deterministic
Requires Sufficient Data: Needs adequate historical bars for accurate analysis
Subjectivity: Some wave interpretations may vary
Complex Markets: May struggle in highly volatile or news-driven markets
Best Practices
Use as Confirmation Tool: Combine with other indicators for higher probability
Consider Timeframe Alignment: Trade in direction of higher timeframe bias
Focus on High-Score Patterns: Prioritize patterns with scores >70
Monitor Context Changes: Watch for shifts in market bias or volatility
Combine with Price Action: Use support/resistance levels with wave projections
This indicator represents a comprehensive Elliott Wave analysis tool that combines traditional wave theory with modern technical analysis techniques for improved pattern recognition and trading decision support.
I would say best use on BTCUSD would be 1hr TF
Best,
Xard777
