Elliott Wave Calculator
Calculate Elliott Wave fibonacci projections for waves 3, 5, and corrective ABC targets. Enter values for instant results with step-by-step formulas.
Reviewed by Daniel Agrici, Founder & Lead Developer
Formula
Wave 5 Target = Wave 4 End + (Wave 1 Length x Fibonacci Ratio)
Elliott Wave projections use Fibonacci ratios (0.618, 1.0, 1.272, 1.618, 2.618) applied to completed wave lengths to project future wave targets. Wave relationships must satisfy three cardinal rules: Wave 2 cannot retrace >100% of Wave 1, Wave 3 cannot be the shortest impulse wave, and Wave 4 cannot enter Wave 1 price territory.
Worked Examples
Example 1: Wave 5 Fibonacci Projection
Problem:Bullish impulse: Wave 0 = 100, Wave 1 end = 120, Wave 2 end = 112, Wave 3 end = 145, Wave 4 end = 135. Calculate Wave 5 targets.
Solution:Wave 1 length = 120 - 100 = 20 points\nWave 5 = 61.8% of Wave 1: 20 x 0.618 = 12.36, Target = 135 + 12.36 = 147.36\nWave 5 = 100% of Wave 1: 20 x 1.0 = 20, Target = 135 + 20 = 155.00\nWave 5 = 161.8% of Wave 1: 20 x 1.618 = 32.36, Target = 135 + 32.36 = 167.36\nWave 3 length = 145 - 112 = 33 points\nWave 5 = 61.8% of Wave 3: 33 x 0.618 = 20.39, Target = 135 + 20.39 = 155.39
Result:Wave 5 Targets: 147.36 (61.8%) | 155.00 (100%) | 167.36 (161.8%) | Cluster near 155 = high probability
Example 2: Elliott Wave Rule Validation
Problem:Check if this wave count is valid: Wave 0 = 100, Wave 1 = 120, Wave 2 = 115, Wave 3 = 138, Wave 4 = 119. Bullish impulse.
Solution:Rule 1: Wave 2 retracement = |115-120|/|120-100| = 5/20 = 25% (VALID, <100%)\nRule 2: Wave 1 = 20 pts, Wave 3 = |138-115| = 23 pts, Wave 3 > Wave 1 (VALID)\nRule 3: Wave 4 (119) vs Wave 1 end (120) - Wave 4 < Wave 1 end\nWave 4 at 119 enters Wave 1 territory (Wave 1 high = 120, low = 100)\nActually Wave 4 must not go below Wave 1 HIGH in bullish: 119 < 120 = VIOLATED\nThis wave count is INVALID - must be recounted
Result:INVALID COUNT | Wave 4 (119) overlaps Wave 1 territory (120) | Must recount
Frequently Asked Questions
What are the three cardinal rules of Elliott Wave Theory?
Elliott Wave Theory has three inviolable rules that must be followed for a valid wave count. First, Wave 2 must never retrace more than 100 percent of Wave 1, meaning the end of Wave 2 cannot go below the start of Wave 1 in an uptrend or above it in a downtrend. Second, Wave 3 can never be the shortest of the three impulse waves (1, 3, and 5), and in practice Wave 3 is usually the longest and strongest. Third, Wave 4 must not enter the price territory of Wave 1, meaning in a bullish impulse, the low of Wave 4 must stay above the high of Wave 1. If any of these rules are violated, the wave count is incorrect and must be re-evaluated. These rules are absolute and distinguish Elliott Wave from mere guidelines.
How do Fibonacci ratios relate to Elliott Wave projections?
Fibonacci ratios are deeply intertwined with Elliott Wave Theory because wave relationships consistently demonstrate Fibonacci proportions. Wave 2 typically retraces 50 percent to 78.6 percent of Wave 1 (both Fibonacci ratios). Wave 3 is often 161.8 percent of Wave 1 in length, which is the golden ratio extension. Wave 4 commonly retraces 38.2 percent of Wave 3. Wave 5 frequently equals Wave 1 in length or extends to 61.8 percent or 161.8 percent of Wave 1. For the corrective ABC pattern, Wave C often equals Wave A or extends to 161.8 percent of Wave A. These Fibonacci relationships allow traders to project price targets for upcoming waves based on completed wave measurements. The more Fibonacci relationships that cluster at a single price level, the stronger that level becomes as a target.
How do you project Wave 5 targets?
Wave 5 targets can be projected using several Fibonacci-based methods. The most common method uses Wave 1 as the reference: Wave 5 often equals Wave 1 in length (100 percent), or extends to 61.8 percent or 161.8 percent of Wave 1. To calculate, measure the length of Wave 1 and project the appropriate ratio from the end of Wave 4. A second method uses Wave 3 as reference: Wave 5 is often 38.2 percent, 50 percent, or 61.8 percent of Wave 3 in length. A third approach projects from the beginning of Wave 1 to the end of Wave 3, multiplying by 61.8 percent or 100 percent and adding to the Wave 4 endpoint. When multiple methods cluster at similar price levels, those levels carry higher probability. In extended fifth waves, the target may reach 261.8 percent of Wave 1.
What are corrective wave patterns and how do you identify ABC targets?
Corrective waves follow the five-wave impulse and typically unfold in three waves labeled A, B, and C. The simplest form is the zigzag (5-3-5 internal structure) where Wave C extends to 100 percent or 161.8 percent of Wave A. Flat corrections (3-3-5 structure) have Wave B approximately equal to Wave A, and Wave C equal to or slightly beyond Wave A. Triangle corrections contract with five overlapping waves. For ABC target projections, measure the full impulse move and apply Fibonacci retracement ratios. The most common corrective targets are 38.2 percent, 50 percent, and 61.8 percent retracements of the entire impulse. The nature of Wave 2 often determines Wave 4 through alternation, meaning if Wave 2 is sharp, Wave 4 tends to be sideways and vice versa.
References
Reviewed by Daniel Agrici, Founder & Lead Developer · Editorial policy