Do not trade immediately. The indicator will label a small move up as "Wave 1" and the pullback as "Wave 2." Crucial Rule: Wave 2 should not break the start of Wave 1.
There is a dirty secret in the world of automated wave counters: mt5 elliott wave indicator
Several developers and trading education sites provide specialized MT5 indicators: Do not trade immediately
This is a popular downloadable indicator that displays wave formations as a histogram. mt5 elliott wave indicator
The indicator's whispers kept coming. Aria kept listening.
If the indicator asks for a DLL import, ensure the DLL is verified. Malicious MT5 indicators are rare, but always scan DLLs from unknown sources.