Elliott Wave Theory - Motive Waves

In fact the markets moves in predictable, repetitive cycles or waves and can be measured and forecast using Fibonacci numbers.

The very basics of Elliott Wave Theory;
The Elliott wave principle at its core consists of motive waves, movement in the direction of the larger trend, and corrective waves, any correction against the main trend. Market prices alternate between a motive phase, and a corrective phase on all time scales of trend.
Wave analysis offers insights into trend dynamics and helps you understand price movements in a much deeper way and offers the trader a level of anticipation and/or prediction when searching for trading opportunities

Technical Indicators

Using various technical indicators among elliott wave practitioners is not so common, except few, probably the common one used is a kind of momentum indicator , such as RSI or MACD , to detect divergencies

Fibonacci retracement and extension drawing tools are essential for elliott wave practitioners. In todays computerized era many of the darawing tool's auto indicator versions are availabe on the trading platforms, such as Auto Fib ( where and how tp apply )

Elliott Wave Oscillator ( EWO ) , is inspired by the Elliott Wave principle and helps counting the waves

Volume and Volume Profile ( Vol / Vol Profile) combined with price action is esential in technical anlaysis and for elliott wave practitioners helps to identify impulse and correction phases