Adaptive Elliott Wave Degree Chart

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Elliott Wave Degree Chart

The Elliott Wave Degree chart is used by R. N Elliott in his book, the Wave Principle to identify the position of the wave within the market cycle of the financial asset.

In other words, this chart is structured to help Elliot Wave Technicians like myself to identify one thing.

That is, the position of the current wave count within the grand scheme of things.

Especially in context to the longer term “Market Cycle” of the financial asset.

With reference to the definition from Wikipedia, the Elliott Wave Degree can be broadly classified as the following categories.

 
Higher Time Frame

The “Higher” time frame ( in the darker shade of blue at the top ) consists of the following phases :

  • Grand Super Cycle
  • Super Cycle
  • Cycle

These phases can stretch “Multi-Centuries”, “Multi-Decades” & “Multi-Years” respectively.

 
Middle Time Frame

The “Middle” time frame ( in the lighter shade of blue in the middle ) consists of the phases :

  • Primary
  • Intermediate
  • Minor

Typically, this translates into “Months To Years”, “Weeks To Months” & “Days To Weeks” respectively.

 
Lower Time Frame

While the “Lower” time frame ( in white background at the bottom ) consists of the following phases :

  • Minute
  • Minuette
  • Subminutte

And this usually represents “Days”, “Hours” & “Minutes” respectively.

 
Limitations Of Broker’s Data

However, due to the limitations of data available from most of our brokers.

I reckon the time scale of the Elliott Wave Degree cycle might have to be modified accordingly.

This kind of allows us to “adapt” to the shorter time frames in today’s market context.

As I am an avid user of the widely popular MT4 trading platform.

I will use the MT4 charting system to illustrate my perspective.

The 9 different cycles identified by R. N Elliott himself can easily translate and corresponds to the 9 different time frames available on the MT4 charting system.

Kindly refer to the above-mentioned chart for a clearer understanding of the modified MT4 time settings.

It is modified to suit the relatively shorter time frames in today’s financial markets.

Learn more about how you can shorten your learning curve on the Elliott Wave Principle by clicking here.

For more articles on the Elliott Wave Theory, check out our Elliott Wave Articles Category.