Most Elliott Wave indicators on TradingView are fundamentally broken! They completely ignore Elliott Wave Theory’s 3 cardinal rules, giving you false signals that can destroy your trading account.
In this video, I expose why popular Elliott wave tools fail traders and show you my open-source solution that ONLY labels patterns when they pass proper validation checks.
🔥 KEY FEATURES OF MY INDICATOR:
✅ Validates ALL 3 Elliott Wave cardinal rules
✅ Shows dots instead of invalid wave counts
✅ Confidence rating system (High/Medium/Low)
✅ Works on Bitcoin, stocks, forex, and indices
✅ Completely open-source and FREE
✅ No repainting or false signals
💡 What You’ll Learn:
– Why traditional Elliott Wave indicators fail
– The 3 cardinal rules that MUST be validated
– How to identify legitimate wave patterns
– My confidence rating methodology
– Live trading examples and analysis
🎯 Important Links:
Get the indicator: https://www.tradingview.com/script/ll4E7z1x-Elliott-Wave-Detector-PRO-TGTBTB/
Get a free TradingView account: https://www.tradingview.com/?aff_id=147924
My Crypto Exchange of Choice: https://www.bitmart.com/invite/cBnmdn
👍 If this video helped you understand why most Elliott Wave tools are broken and how to fix your analysis, SMASH that like button and subscribe for more honest trading content!
Timeline:
0: 00 Introduction & what this video covers
0: 34 About the indicator (free & open source)
1: 02 The problem: most EW indicators just count swings
1: 31 The 3 Cardinal Rules of Elliott Wave
2: 43 Why most indicators skip rule validation
3: 30 The core principle: “Don’t label what you can’t validate”
3: 56 What the dots mean (unconfirmed patterns)
4: 47 Live example: Bitcoin 4H — flat corrective pattern
6: 42 Live example: NASDAQ 100 4H — ABC correction & buy signal
8: 58 Corrective patterns explained (Zigzag, Flat, Triangle)
10: 20 Elliott Wave guidelines & why they’re confusing
10: 44 The forecast panel: confirmed vs. unconfirmed
12: 14 Honest limitations of the indicator
13: 19 Where to find the indicator + outro
#elliottwave #elliotwavetheory #tradingview #tradingindicators