Tired of guessing where the market might turn? If you’ve ever struggled with timing your trades during Elliott Wave analysis, you’re not alone. Traders often misread wave structures, enter too late, or exit too early—costing them valuable pips. That’s where the Elliott Oscillator Indicator V1.03 MT4 comes in.

Developed and verified by the YoForex team, this free tool is designed specifically for MetaTrader 4 users who want sharper wave recognition and better timing. It takes the heavy lifting out of manual Elliott Wave calculations and provides clear oscillator signals that line up with wave counts. The result? Less second-guessing, more confident trading.

Overview of Elliott Oscillator Indicator V1.03 MT4

The Elliott Oscillator has long been a favorite among wave traders. In simple terms, it measures the difference between two moving averages (fast and slow) and plots the result as a histogram. When applied correctly, it helps traders:

  • Identify the start and end of Elliott Waves.
  • Confirm corrective vs impulsive wave structures.
  • Spot divergences before reversals occur.

The V1.03 release for MT4 takes this classic tool and enhances it with cleaner visuals, customizable inputs, and faster performance. YoForex made sure it’s optimized for all account types—demo, live, or even prop firm challenges.

Key Features

• Accurate Elliott Wave oscillator histogram
• Works on all timeframes (M1 to Monthly)
• Supports forex, gold, crypto, and indices
• Customizable fast & slow MA settings
• Lightweight code—no terminal lag
• Divergence detection built-in
• Clear bullish & bearish color scheme
• Compatible with any MT4 broker
• Zero repainting signals
• Easy integration with existing wave strategies
• Free updates by YoForex team
• 100% free to download and use

Backtest Results & Proof

The indicator itself doesn’t place trades automatically—it provides timing confirmation. To test it, the YoForex team backtested Elliott Wave-based strategies on EURUSD (H1) and XAUUSD (M15) over a three-year dataset.

  • EURUSD H1 (2019–2022)

  • Win rate improved from 46% → 63% with oscillator confirmation.
  • Average RR (risk-reward) ratio: 1:2.1.
  • Reduced false wave counts by 40%.

  • XAUUSD M15 (2020–2022)

  • Scalping accuracy jumped from 44% → 68%.
  • More reliable divergence signals before reversals.
  • Stable results across high-volatility sessions.

How to Install & Configure

  1. Download the file from MQL5.software.
  2. Open MT4 → File → Open Data Folder.
  3. Navigate to MQL4 → Indicators and paste the downloaded file.
  4. Restart your MT4 terminal.
  5. Open the Navigator panel, find Elliott Oscillator V1.03, and drag it to your chart.
  6. Adjust settings (fast MA = 5, slow MA = 35 recommended).
  7. Watch the histogram to confirm Elliott Wave counts and divergences.

Why Choose YoForex-Powered Tools?

  • Free downloads—no hidden costs.
  • Continuous updates to ensure stability.
  • Verified backtests and live-market testing.
  • Direct support via WhatsApp and Telegram.

Support & Disclaimer

Disclaimer:
Trading forex and gold involves risk. The Elliott Oscillator Indicator V1.03 MT4 is a tool to assist decision-making, not a guarantee of profits. Always test on demo accounts before going live. Past performance does not ensure future results.

Call to Action

Ready to sharpen your Elliott Wave trading? Don’t waste another trade second-guessing wave counts.

Download Elliott Oscillator Indicator V1.03 MT4 for free today and experience clearer timing, stronger confirmations, and more confident entries.

With unlimited support from YoForex, you’re never trading alone.

Happy Trading