Tool
Elliott Wave Interpretor
interpretor.elliott_wave
Inputs
The Elliott Wave bundle from a market.elliott_wave node: the current wave count, its labelled position (1-5 / A-B-C), validity, and a confidence score.
Outputs
A boolean gate: true on each bar the chosen wave position is reached (wave_position mode) or the count's confidence meets your threshold (confidence_filter mode).
Reads an Elliott Wave count and gives you a simple yes/no gate based on where the count currently sits. Elliott Wave theory labels price moves as a 5-wave trend followed by a 3-wave correction; this interpretor lets you fire only when the count reaches a position you want to trade.
How it works
Wire `info` from a market.elliott_wave node, then choose a mode: wave_position fires when the live count is in a position you pick (such as in_wave_3 or corrective_abc_finished), while confidence_filter fires when the count's confidence is at least your threshold. The output is a per-bar true/false gate for a filter or signal.
Modes
Mode options
Fires when the live count is in the position you pick (such as in_wave_3 or corrective_abc_finished).
When to use: Use when you want to time entries around a specific point in the wave count.
Fires when the count's confidence is at least your min_confidence threshold (and the count is valid).
When to use: Use to act only on high-quality wave counts and skip shaky ones.
Position options
Fires while the count is inside wave 3 — typically the strongest, longest impulse leg.
When to use: Use to ride the powerful third wave, a favourite trend-entry spot.
Fires while the count is inside wave 5 — the final impulse leg before a correction.
When to use: Use to trade the last push, but expect a turn soon after it completes.
Fires when wave 2 has just finished — the pullback that sets up the wave 3 entry.
When to use: Use to position right before wave 3 begins, anticipating the strong leg.
Fires when wave 4 has just finished — the pullback that sets up the final wave 5 push.
When to use: Use to position for the last impulse leg as wave 4 ends.
Fires when the 3-wave A-B-C correction has completed — a fresh impulse may begin.
When to use: Use to catch the end of a pullback and the start of a new trend.
Configuration
Picks the test: wave_position checks where the count sits, confidence_filter checks how confident the count is.
In wave_position mode, which count position fires the gate (in_wave_3, in_wave_5, wave_2_complete, wave_4_complete, or corrective_abc_finished).
In confidence_filter mode, the minimum count confidence required (and the count must be valid) for the gate to fire.
Connects to
Examples
- Filter: only allow long entries when the position gate reports the count is in wave 3.
- Use confidence_filter with min_confidence 0.7 so you only act on high-quality wave counts.
Common mistakes
- Trusting Elliott counts as exact predictions — counts are interpretations and can shift as new bars arrive, so pair them with confirmation.
- Setting min_confidence too low, which lets shaky, low-quality counts trigger trades.