HOW-TO: Use the MTP WPT Script to project Elliott Wave Targets

In this "How To" video, we take a look at how to use the MTPredictor WPT (Wave Price Targets) Script to project, in advance, possible areas where a manual Elliott Wave count is likely to end.

First, you must have your own idea of an Elliott Wave count that you you wish to use on the chart in question. (How to perform manual Elliott Wave counts is not covered in this help video).

Next, you tell the Script which Elliott Wave you would like to project the end of; then you tell the Script which pivots to use for your own manual Elliott Wave count. The Script then places coloured zones on the chart for the areas where the next anticipated Elliott Wave swing is likely to end. The coloured zones (or Wave Price targets as we call them) are clusters of the relevant Fib ratios from the previous swings. The scripts knows which ratios to use for which swings and then does the calculation to cluster the relevant price levels together for you in easy to see coloured zones.

The Scripts can project the WPT zones for the possible end of Waves, 2, 3, 4, 5 and C.

Please note: this is not a trade recommendation, you should all perform your own Analysis. Losses can and will unfold when Trading, please always use Stops and keep your losses small.