Available soon
Loading product…
Elliot Waves Tracker is an MT4 expert advisor that opens trades from fractal-based wave signals and adds averaging orders on a martingale grid. It includes a chart panel, time filters and two exit methods.
Get one message the moment it launches, with its price.
Elliot Waves Tracker is an expert advisor for MetaTrader 4 that builds its entries from a wave-based algorithm using fractal signals. When price moves against an open position, it can add further orders on a martingale grid, and it closes the basket either on an opposite signal, at a fixed take profit, or whichever comes first.
The expert reads its own wave-counting logic, inspired by Elliott wave ideas, and turns it into buy and sell signals based on fractals. The first order is opened with the lot size you set. If price continues against that order and moves far enough, the next signal is accepted and an averaging order is placed with a larger lot, calculated with a multiplier. The chart shows the average price of all open orders as a yellow breakeven line.
The expert is not limited to one instrument or timeframe, so it can be attached to any symbol your broker provides. In practice, each symbol and timeframe needs its own settings, because volatility, spread and typical swing size differ. Depending on those values, it can be set up for short-term trading or for slower, longer holding periods. Always check results in the strategy tester and on a demo account for the exact symbol you intend to use.
The exact default values are shown in the input window when you attach the expert, so check them there rather than relying on this page.
| Setting | Purpose |
|---|---|
| Use time control 1 and 2 | Limit trading to chosen time windows; when off, the expert runs around the clock |
| Lot | Size of the first order, with a minimum of 0.01 |
| Mult 0 | Multiplier applied to each averaging order |
| Distance 0 | Distance in pips before a new signal can open the next position |
| Close by reverse signal | Enables closing on an opposite signal |
| Min profit for signal close | Profit filter in pips for that exit |
| Use fix TP and Profit 0 | Enable and set a fixed take profit in pips |
| Magic Number | Separates orders when several charts run in one terminal |
| Font size | Text size of the on-chart panel |
The panel shows the traded symbol, the number of open buy and sell orders, the current floating profit or drawdown, and closed profit for the day, week and month. Floating drawdown turns red once it passes 20 percent. Two buttons let you close all buy orders or all sell orders by hand.
A martingale grid increases position size as price moves against you, so a long one-directional move can cause large drawdown or a margin call. Study the settings before use, keep the first lot small relative to your balance, and consider a cent account if your deposit is modest. Confirm the leverage and margin rules with your broker.
Trading carries risk and you can lose part or all of your deposit. Past results, including backtests, do not predict future ones. Test on a demo account first.
| Product type | Expert Advisor |
|---|---|
| Platform | MetaTrader 4 |
| Strategy focus | Scalping, Signals, Trend |
| Delivery | Download from your account after purchase |
| License key | Not needed |
| Status | Launching soon |
| Category | Expert advisor (automated trading) |
| Trade style | Signal-based entries with a martingale averaging grid |
| Markets | Any symbol offered by the broker, after per-symbol tuning |
| Timeframes | Any, with settings adjusted for the chosen timeframe |
| Exit options | Opposite signal with profit filter, fixed take profit, or both |
| Extras | On-chart panel, breakeven line, manual close buttons |
| Requirements | MT4 terminal with automated trading enabled |
No reviews yet. Customers who own Elliot Waves Tracker can review it here.
No. This listing is for MetaTrader 4 only. It will not load in an MT5 terminal, so make sure your broker offers MT4 before buying.
Open your MT4 terminal, choose File and then Open Data Folder, and copy the expert file into MQL4/Experts. Restart the terminal or refresh the Navigator, drag the expert onto a chart, and enable automated trading in the toolbar and in the expert properties.
The strategy adds positions in a martingale grid, so exposure can grow quickly. The author suggests careful money management, and a cent account with a minimal lot if the deposit is small. Check the current recommendation, test on a demo account and set a lot size you can afford to lose.
Yes, but give each chart a different magic number so the expert only manages its own orders. Settings that suit one symbol or timeframe may not suit another, so tune each chart separately.
The settings can be arranged for short-term trading, for example with a small fixed take profit, but the same expert can also be set up for slower styles. How it behaves depends on the broker, spread and your chosen values, so test it first.
No. Trading carries risk, a martingale grid in particular, and past results do not predict future ones. Test on a demo account before using real funds.
Elliot Waves Tracker
Notify me at launchQuestions about this tool?
Ask us on Telegram Install guide for MT4 and MT5 Get a custom version builtFree, practical help with testing, sizing and running expert advisors.
More MT4 tools with a similar focus.
Own Elliot Waves Tracker? Sign in to review it.