Pattern & Elliott Tools

What this page is

The fourth button on the rail holds fourteen tools in three sections. Patterns has the six harmonic and classical shapes. Elliott Waves has the five standard labellings. Cycles has three tools that take one period and repeat it across the chart.

The eleven pattern and wave tools all work the same way. You click one anchor per vertex, in order, and the tool draws the zig-zag through them and prints the letter or number that belongs to each corner. The click count is simply how many vertices that pattern has: four for an ABCD, five for an XABCD, six for a Three Drives, seven for a Head and Shoulders.

Some of them add more. XABCD, Cypher and Triangle shade the wings between consecutive legs. XABCD, Cypher, ABCD and Three Drives print each leg's ratio against the leg before it, in small grey figures at the midpoint — that is the number a harmonic trader is actually checking. Head and Shoulders draws a dashed neckline between the two armpits and runs it past both shoulders.

The three cycle tools take two clicks that define one period and then repeat it. Cyclic Lines repeats it as vertical rules, Time Cycles as semicircles sitting on the baseline through your two anchors, and Sine Line as a continuous wave with the amplitude your second click set.

This is the one flyout where colour carries meaning. All fourteen tools have a fixed signature hue that nothing else uses, so a chart with three different patterns on it is readable — the violet one is always the Cypher, the blue one always the Elliott impulse, the red one always the correction. Each hue has three shades, dealt in order, so placing the same tool twice gives you two objects you can still tell apart.

Why it helps you

When to use it, and where to find it

• After the last leg of the shape has actually formed. A pattern anchored to a swing that is still in progress relabels itself every session.
• When you want to record a count or a pattern you will be reviewing later, rather than acting on immediately.
• When the automatic detectors on the chart have marked something and you want to draw your own version of it to compare.
• Before a neckline break, so the level is already on the chart when it matters.

Try it — a short walkthrough

1. 1
   Pick the pattern and click one vertex at a time

   Open the fifth rail button and choose, say, ABCD. Click the four swing points in order. The tool letters each corner as you go and finishes on the last one, then the rail returns to the cursor.
2. 2
   Use the magnet for the vertices

   A pattern is entirely defined by where its corners sit, and a corner half a candle off changes every leg ratio. The magnet button below Undo snaps each click onto the nearest open, high, low or close.
3. 3
   Check the ratios the tool prints

   On XABCD, Cypher, ABCD and Three Drives, the small grey number at each leg midpoint is that leg divided by the one before it. Compare them with what the pattern is supposed to have before you believe the label.
4. 4
   Label a wave count

   Choose Elliott Impulse Wave and click six points — the origin and the five wave ends. It prints 0, 1, 2, 3, 4 and 5 on them, always in its own blue, so a second count placed later comes out in a different shade of the same hue.
5. 5
   Fix a corner without redrawing

   Press Esc or the cursor button, click the pattern to select it, and drag any of its handles. The letters, the shading and every printed ratio recompute as the vertex moves.

Every part, up close

The Chart page — patterns you draw on the left, patterns the app finds on the right. Each part with a close-up of the real screen; the numbers match the dots on the picture.

1

Fourth button down

The fourth button on the rail holds the fourteen tools you place by hand, one click per vertex.

2

Your own labelling

The zig-zag and its letters come from your clicks, so the count on the chart is your reading of the structure rather than the software one.

3

The detectors

The chips on the right edge are the opposite arrangement — CP, E1 and E2 find patterns for you and draw them, where this rail is where you draw one yourself.

Reading the numbers

• XABCD Pattern — 5 clicks, labelled X A B C D. Shades the two wings and prints each leg ratio, with a dashed chord from X to D.
• Cypher Pattern — 5 clicks, labelled X A B C D. Same construction as XABCD; a separate tool because it is a different rule set and gets its own signature colour.
• ABCD Pattern — 4 clicks, labelled A B C D. Prints the leg ratios, no shading.
• Triangle Pattern — 4 clicks, labelled A B C D. Shaded, no ratios.
• Three Drives Pattern — 6 clicks, labelled 0 1 A 2 B 3. Prints the leg ratios.
• Head and Shoulders — 7 clicks. Only three vertices are captioned — LS for the left shoulder, H for the head and RS for the right — and a dashed neckline is drawn between the two armpits and extended past both shoulders.
• Elliott Impulse Wave (12345) — 6 clicks, labelled 0 1 2 3 4 5.
• Elliott Correction Wave (ABC) — 4 clicks, labelled 0 A B C.
• Elliott Triangle Wave (ABCDE) — 6 clicks, labelled 0 A B C D E.
• Elliott Double Combo (WXY) — 4 clicks, labelled 0 W X Y.
• Elliott Triple Combo (WXYXZ) — 6 clicks, labelled 0 W X Y X Z.
• Cyclic Lines — 2 clicks. The span between them becomes one period, repeated as vertical rules across the chart in both directions. The first two are drawn at full strength and the repeats faded.
• Time Cycles — 2 clicks. The same period drawn as semicircles resting on the baseline through the anchors, with the baseline itself shown dashed.
• Sine Line — 2 clicks. One wavelength from the horizontal span and one amplitude from the vertical, repeated as a continuous wave.
• Fourteen fixed hues, in three shades each: the Elliott impulse is blue and the correction red, following the convention that motive structures are cool and corrective ones warm. The remaining twelve are spread evenly round the wheel so no two neighbours in the flyout are neighbours in colour. The flyout row itself is tinted with the tool's own hue, which is the only place the mapping is written down.
• XABCD, Cypher and Triangle Pattern shade their interiors, so those three carry background colour, visibility and opacity controls in the settings dialog. The rest draw lines only.

What it does not do

• None of these tools finds anything. They draw where you click and letter what you clicked; the judgement about whether the shape is really there is entirely yours. The automatic detectors are a separate system, on the chips down the right-hand side of the chart page.
• A pattern anchored while its last leg is still forming will change every time a new high or low is made. Wait for the leg to finish, or expect to move the handle.
• The printed leg ratios are measured in price only, ignoring how much time each leg took. Two patterns with identical ratios can be very different trades.
• The three cycle tools repeat their period a fixed forty times each way. That is enough to cross any view, but the repeats are a projection of one measurement and nothing checks that the interval was ever regular.
• All fourteen tools can be drawn on the Chart page, so nothing in this flyout is greyed out. If the engine ever could not draw a tool, its row would be disabled with a tooltip saying so.

Questions people ask