Elliott Wave Symbols

Author: Optuma Team Last updated: Jul 24, 2020 00:20
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The Elliott Symbol tool can be used for the manual application of Elliott Wave symbols at user-defined points on a chart (including swing charts). The tool is not automated and therefore cannot be used to automatically identify Elliott wave patterns. Nine cycle levels are available - from Grand Supercycle to Subminuette:

Elliott Wave Symbols

To add the tool to your chart, select the tool from the Drawing tool group. With the tool selected, left-click once on the chart to display the Elliott Symbol selection window as displayed in the screenshot above.

Next, left-click on the desired starting Symbol. With the symbol selected the mouse pointer will then display as a pencil, left-click on the desired chart position to apply the first symbol in the Elliott wave sequence. After the first symbol has been applied, left-click on each chart position that you wish to plot an Elliott symbol. After you have completed with the symbol sequence, left-click on Close in the Elliott Symbol selection window.

Actions & Properties



Add Additional Symbols: Opens the Elliott Symbol selection window and allows you to continue adding additional symbols to the existing sequence.

Delete Symbol: Allows you to delete the selected symbol.

Add to Toolbar: Adds the selected tool to your custom toolbar.

Apply Settings to All: When multiple Elliott Wave Symbols have been applied to a chart, page or workbook, this action can be used to apply the settings of the one selected to other instances of the tool. This is a great time saver if an adjustment is made to the tool - such as line colour - as this allows all the other Elliott Wave Symbols in the chart, page or entire workbook to be updated instantly.

Copy Tool: Allows you to copy the selected tool, which can then be pasted onto a different chart window.

Move to Back: If the tool is displaying in front of other tools or indicators clicking this action will move the tool view to the background.

Move to Front: If the tool is displaying behind other tools or indicators on the chart, clicking this action will bring the tool to the forefront.

Restore Default Settings: Click this action if you have adjusted the default settings of the tool, and wish to return to the standard properties originally installed with Optuma.

Save Settings as Default: If you have adjusted any of the tool’s properties (colour, for example) you can save the adjustments as your new default setting. Each time you apply a new Elliott Wave Symbols to a chart, the tool will display using the new settings.

Delete: Deletes the tool from the chart.



Tool Name: Allows you to adjust the name of the tool, as it’s displayed in the Structure Panel.

Font Size and Colour Styles: This option expands to display the properties of the Elliott Symbols.

  • Font Size - Sets the size of the respective Elliott Symbol. To change the value amount, click in the field and enter the new value.
  • Font Colour - Allows you to select the colour of the Elliott Symbol. Clicking on the drop down arrow will display a colour swatch. Locate the desired colour and left-click it once to select it.
  • Visible - To hide a symbol sequence, deselect the check box with the green tick

Display Symbol as ALT: When selected this option will insert the text ALT in front of the selected symbol to help identify alternative wave counts.

Show Extended Symbols: When selected the Elliott Symbol selection window will display the following additional symbols: D, E, W, X, Y, and Z.

Tool Transparency: Use this slider bar to adjust the transparency of the tool. Moving the slider to the left will increase the transparency of the tool.

Visible: Un-tick this checkbox to hide the tool from the chart.