Wave 5 is the final advance of an 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 pullback stayed above the top of wave 1 and above the wave 2 low, the wave 4 low was set within the last 7 bars, and the price has turned up from it while wave 5 has not formed a peak yet. Wave 1 must start from at least a 64-bar low; closing prices are used, and swing points are confirmed by 7 bars on each side. The count is invalid if the price falls below the top of wave 1; wave 5 often travels about the length of wave 1, measured from the wave 4 low. Because it is the last leg of the trend, many traders take profits near its target. Because these signals are rare, the list includes all stocks on the Toronto Stock Exchange, with no price or liquidity filter.
