Elliott Correction (ABC)
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    Elliott Correction (ABC)

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    Article summary

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    Elliott Correction (ABC) is a tool based on Elliott Wave theory and it consists of three sub-waves (degrees).
    The Elliott Correction works in pairs with Elliott Impulse but it makes net movement in the opposite direction to the trend.

    To add Elliott Correction to the chart, click its name or the iconelliott_correction(ABC)on the Drawings Panel. Successively, specify points on the chart to draw a wave.

    Note: To cancel drawing, press ESC

    elliott_correctionElliott Correction

    Actions with the Elliott Correction

    • To edit the Elliott Correction, drag it by one of the points.
    • To move the Elliott Correction, drag it by its line to where you want it on the chart.
    Note: To open the settings window, double-click a line on the chart

    Elliott Correction Toolbartoolbar1(2)

    Color. In the Color section, you can change the color of the Elliott Correction entirely. The slider at the bottom is intended to set transparency of the color.
    To create a custom color:
    • clickto open the color picker
    • by using the slider at the bottom, adjust the main color
    • on the color picker, set a shade for the main color

    The custom-created colors are added to your palette. To remove a custom color, drag it out of the palette.

    Weight. In the Weight section, you can set the thickness and style of the Elliott Correction entirely (currently, only dashed style is available).
    Settings. A set of parameters that are described in Elliott Correction Settings.
    Lock. Locks the drawing position. The figure cannot be moved or edited on the chart.
    Delete. Removes the Elliott Correction from the chart.
    Note: To delete an Elliott Correction, you can also press the Delete or Backspace button on your keyboard

    Elliott Correction Settings

    • Coordinates. The coordinates of every point of the Elliott Correction that you can specify manually by filling out the values for the prices, dates and time.
    • Style. In this section, you can set a color and style for the Elliott Correction or turn on/off displaying of its wave.
    • Degree. Time span of every degree:
      • Subminutte - minutes
      • Minuette - hours
      • Minute - days
      • Minor - weeks
      • Intermediate - weeks to month
      • Primary - from a few month to two years
      • Cycle - one year to several years
      • Super Cycle - multi-decade (about 40-70 years)
      • Grand Super Cycle - multi-century

    Click Close to apply the settings.

    Note: At the bottom-left corner of the window, click Restore Defaults to reset the settings

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