FxMath Elliott Wave Pro

01What this is

An analysis engine plus a workstation. The counting is deterministic and auditable; the drawings, plans and orders are built on top of that one answer.

How it works

MetaTrader 5 terminal  (running, logged in)
        │  IPC — the MetaTrader5 Python package, no EA required
        ▼
  ewp/mt5feed.py    symbols · quotes · history
  ewp/pivots.py     ATR-adaptive ZigZag (5 degrees)
  ewp/rules.py      impulse / correction / triangle / combination rules
  ewp/counts.py     candidate windows, ranking, alternatives
  ewp/fib.py        projections, labels, status
  ewp/signals.py    trade plan: bias, entry, stop, targets, size
  ewp/api.py        Flask → JSON
        ▼
  static/           the dashboard (HTML + JS + chart canvas)
  ewp/trading.py    optional order execution

Nothing is uploaded anywhere. Everything runs on your machine, against your terminal.

What you get

02Install and first run

Two requirements: a running MetaTrader 5 terminal, and Python with Flask plus the MetaTrader5 package.

Requirements

Launch

cd ~/Desktop/ElliottWavePro
./gui.sh        # native control panel (recommended)
./run.sh        # browser only, opens the dashboard
./start.sh      # background server, no browser
./stop.sh       # stop the background server

On Windows, the equivalent entry points are gui.bat-style shortcuts or, once packaged, FxMathElliottWavePro.exe — see BUILD_WINDOWS.md.

Check the feed before anything else

wine python -m ewp --check

It prints the package status, the account, and every terminal it found:

MetaTrader5 package : yes
terminal connected  : True (connected)
account             : {'login': 115412174, 'server': 'MetaQuotes-Demo', ...}
terminals found     :
   * MetaTrader 5                 running  C:\Program Files\MetaTrader 5\terminal64.exe
     AMarkets - MetaTrader 5      closed   C:\Program Files\AMarkets - MetaTrader 5\terminal64.exe

03The control panel

A native window that finds your terminals, remembers your settings and hands them to the dashboard.

TERMINAL row

Every terminal64.exe found on the machine is listed with a connected or running marker. Three buttons:

Pair, timeframe, degree

The SYMBOL box searches the whole broker catalogue as you type. TIMEFRAME lists all 21 timeframes. DEGREE picks the Elliott degree. Under them, a live preview of the current count:

Impulse 1-2-3-4-5 · score 93% · 5 waves complete

Engine tab

Base ATR factor, degree ratio, ATR period, minimum score, max alternatives, bars analysed, and the diagonal/complex-correction switches. These are the same parameters the dashboard exposes in Settings; changing them here changes the chart you open.

Layers tab

Chooses what the dashboard draws: structure, labels, Fibonacci, targets, channel, history, sub-waves, all degrees, plus the light/dark theme.

OPEN CHART vs Dashboard

• OPEN CHART opens the browser with your settings encoded in the URL.
• Dashboard opens the plain dashboard, using whatever the browser remembered.
• The link below the buttons is the exact URL of the current configuration — copy it to bookmark or share.

04Dashboard tour

One screen: the chart on the left, the analysis and your tools on the right.

Top bar

Chart header

Pair, timeframe badge, live tag, price and change, then the BARS field: how many bars are pulled from the terminal and analysed (200–20 000). The right side shows N bars · ATR · last bar time.

Right panel, top to bottom

Bottom status bar

Left: a one-line summary of the structure. Right: degree, number of valid counts, data source and auto-refresh interval. The footer repeats the engine version and the disclaimer.

Light theme

05Timeframes and degrees

Two independent axes: the chart's timeframe, and the wave degree you are counting.

Timeframes

All 21 the terminal can build are supported: M1 M2 M3 M4 M5 M6 M10 M12 M15 M20 M30 H1 H2 H3 H4 H6 H8 H12 D1 W1 MN. Nine are tabs; the rest live behind ⋯. Every timeframe is available for every symbol — nothing has to be exported first.

Degrees

Each degree has its own swing threshold: ATR × base × ratio^(4 − degree). A coarser degree ignores small noise; a finer one reacts to it. The DEGREES card shows how many pivots each level produced, which tells you whether a degree is too fine (hundreds of pivots) or too coarse (under ten).

Decomposing a wave

Press DECOMPOSE ↗ (or X): the app pushes the current degree, jumps one degree finer and zooms the chart to that structure's own time window. A breadcrumb appears so you can walk back.

Two related overlays do something different:

• SUB-WAVES — draws the best finer impulse inside the active count, in place, without navigating.
• ALL DEGREES — every degree's ZigZag at once, faint, so you can see how they nest.

06Reading the count

What the pattern name, the score, the ratios and the percentages actually mean.

The three hard rules

The chips on the card are coloured: green = satisfied, yellow = not applicable (diagonal / incomplete), red = broken.

Score

A 0–100 confidence built from: base pattern quality, the Fibonacci ratios (W2 38–62 %, W3 ≥ 1.618×W1, W4 24–38 %, W5 ≈ W1), alternation, and whether the structure is still unfolding. It is a ranking device between competing counts — not a probability of profit.

Alternatives

Elliott Wave is ambiguous by nature. The engine keeps up to 18 rule-compliant interpretations and ranks them; clicking one makes it active, and labels, projections and the trade plan follow. Two counts can both be “valid” — the score is how they are ordered.

Wave measure

Independent of the score, this table checks the guideline ratios:

For corrections the rows are B/A and C/A; for triangles C/A, D/B, E/C; for diametrics F/A, E/B, D/C. The verdict line reads textbook, acceptable or distorted.

Fibonacci time targets

Under the table, the projected turns: 0.618, 1.0 and 1.618 times the duration of the leg that just finished. Past dates are filtered out — if everything is behind you, the card says “time targets already passed”.

Status lines

07Patterns

Twelve codes, each with its own validity test.

08The trade plan

If the count is right, this is where you would act — and where you would be wrong.

Reading the caution line

• reward/risk below 1 — the target is closer than the stop; a valid count with a poor trade.
• late entry — wave 5 of a mature impulse — the trend is nearly spent.
• impulse complete — nothing to do here; decompose into the correction instead.

On the chart

The plan draws three lines: ENTRY (blue), SL (red) and the targets (green). They always come from the same numbers as the card, so the picture and the text cannot disagree.

09Drawings and objects

Trendlines, channels, Fibonacci retracements and text labels, saved per pair and timeframe.

Drawing

Selecting and deleting

Three ways, all equivalent:

1. Click the line — it turns red — then Del.
2. OBJECTS card at the top of the panel lists every drawing on this pair/timeframe; × deletes one, clear all wipes them.
3. Right-click → Delete selected object (Del) or Clear all drawings (⇧Del).

Higher-timeframe ghost

The HTF GHOST layer overlays the next-higher timeframe's close as a dashed line — M30 shows H4, H1 shows H4, H4 shows D1 — for degree context without leaving the chart.

10Research tools

Scanner, confluence, backtest, journal, report and workspaces.

Scanner

Comma-separate the pairs, pick the timeframe chips, set BARS (any value 200–20 000; it drives both the history fetch and the analysis window), then RUN. Every column sorts; a click opens that pair and timeframe. The progress line shows elapsed time — the first scan of a new symbol/depth is slower because the terminal has to build that history once.

Confluence

scan runs the engine on four timeframes and reports how many agree: aligned, mostly aligned, mixed, conflicting. Click a row to jump to that timeframe. Counter-trend waves stand out immediately — e.g. “1↑ 3↓” on a bounce.

Backtest

At each step only the bars up to that point are visible, so the count is the one you would really have seen; the outcome is then read from the following bars, and the stop is checked before the target inside each bar (the conservative assumption). Reports trades, win rate, average R, total R, profit factor and max drawdown.

Journal

log current plan stores the live plan with its price; the journal scores every logged plan later against what price actually did.

Report and sharing

P or the ⤓ button builds a sheet with the chart image, the plan, the measure table and the confluence verdict, and opens it in its own window. A share bar sits at the top:

Add ?report=preview to the URL to see the same sheet inside the app instead of a popup — handy on tablets and for screenshots.

Workspaces

Settings → Workspaces saves the current symbol, timeframe, degree, engine parameters, layers and risk under a name, and restores all of it later.

11Monitoring and alerts

The watcher runs inside the server, so it keeps working after you close the tab.

Settings → MONITOR sets the interval, the symbol list, the timeframe list and an optional webhook. Events fire only when something actually changes:

• a new count appears (pattern, start or leg count changed),
• the bias flips,
• the count is invalidated,
• the plan changes (entry, stop or targets moved).

They land in alerts.json, appear in the ALERTS card (polled every 20 s) and, if a webhook is set, are POSTed as {"text": "…"} — which Slack, Discord, Mattermost and n8n all accept.

{
  "monitor": {
    "enabled": true,
    "interval": 60,
    "symbols": ["EURUSD", "GBPUSD", "XAUUSD", "USDJPY"],
    "tfs": ["H1", "H4", "D1"],
    "degree": 2
  },
  "webhook": "https://hooks.slack.com/services/..."
}

The same file lives in ~/.fxmath-ewp/config.json. Disable the watcher with wine python -m ewp --no-monitor.

12Trading from the chart

Optional, off by default, and locked on live accounts until you unlock it.

Enabling

Placing an order

1. Set LOTS (pre-filled from the plan's risk sizing).
2. Press BUY or SELL.
3. Check the confirmation: account mode, symbol, side, volume, market entry, SL, TP and the approximate money at risk. If the count disagrees with your click, it warns you.
4. SEND ORDER.

The stop and target come from the plan, so the order is a bracket from the start.

Managing positions

The POSITIONS card appears while something is open: side, volume, entry, live P/L and a × per position, plus close all and today's realised P/L. Breakeven and trailing are applied by a manager thread every few seconds.

Breakeven and trailing are percentages of the take profit

Both rules are expressed relative to the distance between entry and TP, so one setting works on every instrument — a point means something different on EURUSD, gold and an index, a percentage of TP does not.

Example — long from 1.1000 with TP at 1.1100 (1 000 points):

• at 1.1030 (30 %) the stop moves to 1.1005 (+5 %);
• at 1.1050 (50 %) the stop trails at 1.1025 (25 % behind);
• at 1.1080 it is at 1.1055 — the stop only ever tightens, never loosens.

The settings card prints the equivalent in points for the chart you are looking at, so you always know what “30 %” currently means in money.

What the app does for you

Common broker replies

13Settings reference

Every switch in one table, with the effect of moving it.

Engine

Chart

Layers

Structure · wave labels · Fibonacci · targets · count channel · history · sub-waves · all degrees · Fib grid · HTF ghost. The all button in the card header toggles the set.

14Keyboard and mouse

Mouse

15Troubleshooting

16FAQ

Does it need an EA or indicator installed in MT5?

No. The Python bridge talks to the terminal over IPC. You need the terminal running and logged in, nothing compiled or attached.

Is it repainting?

Confirmed pivots never move: a swing is only registered after price reverses by the degree threshold, and it is placed on the bar of the actual extreme. The last pivot is explicitly marked provisional — that is the wave forming now, and it should change.

Why does the plan sometimes say WAIT?

Because the impulse is complete. The next move is the correction, and joining an exhausted trend is the most common Elliott mistake. Decompose into the ABC instead.

Can two counts both be valid?

Yes — that is the nature of the method. Alternatives are ranked and you choose; the app never pretends there is a single truth.

Does the backtest include spread and commission?

No. It measures the structural edge (R multiples on the plan's levels). Treat it as a filter, not as a P&L statement.

Can I trade a live account?

Yes, after ticking allow live accounts. Caps, the daily loss limit and the panic button still apply, and every order is audited.

Where is my data?

Nothing leaves your machine. Settings, journal, alerts and the order log live in ~/.fxmath-ewp/; drawings live in the browser's local storage.

Can it run on another platform (cTrader, NinjaTrader, IB)?

Not yet. The engine is platform-neutral; each platform needs a data adapter and, for trading, a broker adapter. MT5 is the connector that ships today.

17Glossary