Wave 5 is the final decline of a downward Elliott impulse. This screen lists stocks on the Toronto Stock Exchange where waves 1 to 4 are in place over the last 128 bars, the wave 4 rebound stayed below the bottom of wave 1 and below the wave 2 high, the wave 4 high was set within the last 7 bars, and the price has turned down from it while wave 5 has not formed a low yet. Wave 1 must start from at least a 64-bar high; closing prices are used, and swing points are confirmed by 7 bars on each side. The count is invalid if the price rises above the bottom of wave 1; wave 5 often travels about the length of wave 1, measured down from the wave 4 high. Because it is the last leg of the decline, a reversal often follows. Because these signals are rare, the list includes all stocks on the Toronto Stock Exchange, with no price or liquidity filter.
