ZigZag Elliott Wave Strategy (Demo) by GLRSMEER
By GLRSMEER
Performance Metrics
- Author: GLRSMEER
- Symbol: NASDAQ:NBIS
- Timeframe: 4 hours
- Net P&L: +12,182.18 USD (+12.18%)
- Win Rate: 59.1%
- Profit Factor: 1.6
- Max Drawdown: 7,070.31 USD (6.79%)
- Total Trades: 999
Description
1. Strategy ObjectiveObjective:Capture the Wave 1 → Wave 2 correctionEnter Wave 3 (strongest wave) after Wave 2 endsTake profit at the Wave 3 targetAdd more in Wave 4Manage the position towards Wave 52. Visuals on the ChartGreen dots → Wave 1 peakRed dots → Wave 1 troughOrange line → Wave 3 targetBlue/purple → Fibonacci levelsBackground:Green → Wave 2 areaOrange → Wave 4 area3.Strengths and Weaknesses of the Strategy✅ Strong:Trend-catching focusedLogical entry with FibonacciHigh potential due to focus on Wave 3❌ Weak:May cause zig-zag repainting (late signal)Elliott waves don't always form clearlyMay result in losses on fake retracementsAll investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, backtest, or individual's trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance.