Elliott Motive Wave Rules Checked from Six Chart Pivots

Summary

This interactive chart tool helps users assess whether six manually selected pivots form an Elliott motive wave. It checks that the pivots progress in time, alternate direction correctly, and satisfy generic motive-wave rules: wave two does not retrace past wave one’s start, wave three passes wave one’s end and is not the shortest of waves one, three, and five, and wave four meets retracement constraints. Fibonacci-style ratios are used for several of these checks.

The script separately evaluates impulse and diagonal possibilities. For an impulse, it checks wave-four overlap with wave one and whether all three motive waves are extended. For diagonals, it looks for overlap and progressively expanding or contracting wave lengths. A chart checklist shows passed and failed conditions and labels the resulting pattern. This is an educational rule-checking aid based on the user’s chosen pivots; it does not identify pivots automatically, establish that Elliott-wave interpretation is predictive, or provide trading performance evidence.

Key ideas

• The user selects six price and time pivots to define a candidate five-wave structure.
• The tool checks pivot order, alternating direction, retracement ratios, and relative wave lengths.
• Impulse and diagonal classifications use additional, distinct overlap and extension conditions.
• The chart displays individual rule results so users can see why a candidate passes or fails.
• The document presents an educational checklist, not evidence of profitable trading performance.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.