Elliott wave Fibonacci calculator

What the page does, and what it will not do

Elliott wave counting is a subjective craft. The same chart can hold several valid counts, and different analysts will mark different highs and lows as the end of each wave. This page does not count waves for you. You pick the five turning points: where wave 1 started, where wave 1 ended, and where waves 2, 3 and 4 ended. Everything else on the page is arithmetic on those five numbers plus a tolerance you set.

The page does not fetch prices, does not read a chart, does not tell you whether a wave count is right, and does not give a buy or sell call. If the five prices you enter do not describe a clean impulse, the arithmetic still runs, and a note under the metric tiles says the count does not look clean.

The seven projections

Let W1 be (wave 1 end minus wave 1 start), W3 be (wave 3 end minus wave 2 end), and W1-to-3 be (wave 3 end minus wave 1 start). The signs carry through, so a rising impulse has positive deltas and a falling impulse has negative deltas, and both run through the same formula.

• Wave 3 at 1.618 of W1 from the wave 2 end: wave 2 end + 1.618 x W1.
• Wave 3 at 2.618 of W1 from the wave 2 end: wave 2 end + 2.618 x W1.
• Wave 4 at 0.382 retracement of wave 3: wave 3 end - 0.382 x W3.
• Wave 4 at 0.500 retracement of wave 3: wave 3 end - 0.500 x W3.
• Wave 5 at 0.618 of W1 from the wave 4 end: wave 4 end + 0.618 x W1.
• Wave 5 at 1.000 of W1 from the wave 4 end: wave 4 end + 1.0 x W1.
• Wave 5 at 0.618 of W1-to-3 from the wave 4 end: wave 4 end + 0.618 x W1-to-3.

Two Wave 3 lines, two Wave 4 lines and three Wave 5 lines. Seven lines in all, which is where the cluster idea comes in.

What a cluster is here

A cluster is a run of projections that sit close together in price. The page sorts the seven lines from the lowest price to the highest, then walks through them in order. If the next line sits within the tolerance (in per cent) of the one before it, the two go in the same cluster. If the next line sits further away, a new cluster starts. The chart shades every cluster that holds two or more lines as a band on the ladder, and the table marks every row with its cluster number.

Why this matters is simple. Each of the seven lines is one guess at where a particular wave might turn. When several guesses land within a small price band, that band is where the arithmetic agrees with itself, under this wave count and this tolerance. It does not say a turn will happen there. It only says the arithmetic agrees.

Worked example you can check

Take a rising wave count: wave 1 ran from 100 to 130, wave 2 ended at 115, wave 3 ended at 170 and wave 4 ended at 150. W1 is 30, W3 is 55 and W1-to-3 is 70. At a tolerance of 5 per cent, here are the seven lines sorted low to high.

Three clusters hold two lines each: 142.50 and 148.99 near the wave 4 retracement, 163.54 and 168.54 where the wave 3 and wave 5 projections meet, and 193.26 and 193.54 where two wave-5 and wave-3 projections overlap. The 180 line sits alone. The chart shades the three multi-line clusters.

How the tolerance moves the answer

Tolerance is a one-knob control. At a tolerance of 0, every line is its own cluster: no pair is ever close enough. At a wide tolerance (10 to 20 per cent) every line can fold into a single cluster, which is not useful. In between, clusters form around the real overlaps.

Using the default inputs, here is how the count of multi-line clusters changes with tolerance.

Around 5 per cent the page separates the natural overlaps on this count without collapsing them into one block. The right tolerance for a chart depends on the instrument's own price swing and on your own reading; 1 to 5 per cent is a working range for most equity indices and single stocks.

Rising and falling structures

Nothing in the formulas requires an up-trend. If wave 1 runs down (wave 1 end below wave 1 start), W1 is negative and every projection flips below its anchor. Wave 3 at 1.618 of W1 points down from the wave 2 end; wave 4 retracement sits above wave 3 end because wave 4 retraces against wave 3's direction. The ladder then plots the cluster bands below wave 4 end.

Direction is detected from wave 1 alone. If wave 2 then ends in the wrong place for that direction (above wave 1 end in a down impulse, say, or below wave 1 start in an up impulse), the page runs the arithmetic anyway and shows a note. Elliott counts that look unclean on their own numbers usually need a fresh look at the swing points.

What this calculator leaves out

• The wave count itself. You pick the five turning points by hand; the page does not label them for you.
• Live prices. Nothing is fetched from a chart or a feed.
• Any claim that a cluster must hold. These are seven arithmetic lines drawn from five prices. They are not forecasts.
• The other Fibonacci ratios some Elliott books use (0.236, 2.000, 3.618). The seven used here are among the ones most often quoted.
• Alternate wave counts and extended fifths. The page runs one count; to run another, enter the five turning points of that count.
• Price scaling (log versus linear). Projections are arithmetic on the prices you enter, so a log reading would need you to enter log prices.

Frequently asked questions

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