EWI’s Certified Elliott Wave Analyst Program (CEWA)

The Definitive Certification for Elliott Wave Professionals

About CEWA

The CEWA program is the most comprehensive and rigorous assessment process of its kind. It was developed by Elliott Wave International, which is the world’s largest independent technical analysis firm in the world. EWI has a 40+ year history.

CEWA and CEWA-M certifications are the ultimate accreditation of Elliott wave proficiency.

If you represent an institution searching for the top Elliott wave practitioners in the world, look for the CEWA or CEWA-M designation. Banks, pensions and hedge funds know that individuals who earn the CEWA distinction have proven themselves highly skilled in applying the Wave Principle.

If you are an individual interested in certifying your own Elliott wave knowledge or are working as a trader or analyst in the field of technical analysis, CEWA certification is your standard. Earning those four letters after your name may open some doors for you that you thought would never be opened.

Where Did CEWA Come From?

The CEWA story begins over 30 years ago. In the late 1980s, EWI conducted a series of live, two-day Elliott wave workshops. The sessions taught the basics of the Wave Principle. EWI’s founder Robert Prechter directed the instructors and taught many sessions himself.

Many workshop students requested an advanced tutorial, so EWI began to develop one. Our goal with the tutorial was to require more than parroted definitions. We decided to create a rigoroustrue test for applying wave analysis and forecasting. EWI’s veteran Dave Allman designed the course in consultation with professional educators and Elliott wave experts whose combined experience totaled some 70 years in nearly 100 financial markets. The resulting advanced course provided 16 hours of teaching. Several hundred students took the course over the years. Of them, three or four received the “Excelled” ranking – and ultimately, EWI hired two of them as analysts.

In 2012, Allman and Wayne Gorman, co-author of Visual Guide to Elliott Wave Trading, designed a fully automated, online CEWA Exam I. In 2016, we launched the material that became CEWA Exams II and III.

Today’s CEWA program is scrupulously vetted: In addition to the original authors’ now 120+ years of experience applying the Wave Principle, there’s been feedback from 12 EWI analysts who themselves have earned CEWA designations. These analysts brought an additional 200 years of Elliott wave experience.

Several hundred candidates have taken the exams.

How It Works

We offer the CEWA certification over three focused exams. Candidates MUST pass all three to become CEWA certified and to use the CEWA designation.

  • CEWA Exam I (One test, multiple choice – 60 minutes) measures basic, entry-level competence in and understanding of the Elliott Wave Principle. The candidate must have a working knowledge of the definitions and concepts of the Wave Principle. The exam is administered in our online Certification Portal. — Cost: $300, or $150 per retake.
  • CEWA Exam II (Two tests, multiple choice and multiple response – 45 minutes per test) requires deeper knowledge of the Wave Principle. The exam is proctored online by Mercer | Mettl.* — Cost: $1500; $250 per test per retake. Note: The price includes Exam III. Must wait at least 30 days in between test retakes.
  • CEWA Exam III (Three tests, all of which are chart labeling – 75 minutes per test) measures the ability to apply the Wave Principle to idealized market structures. The exam is proctored online by Mercer | Mettl.* – Cost: $1500; $250 per test per retake. Note: The price includes Exam II. Must wait at least 30 days in between test retakes.

*  To ensure secure, credible results and protect the value of your CEWA certification, CEWA Exams II and III are proctored by Mercer | Mettl, one of the largest online examination proctoring companies in the world.

New! Each Exam Comes with a FREE Prep Course ($600 Total Value)

When you sign up for CEWA Exam I, II or III, you get free access to a detailed prep course to help you pass each exam. The prep course includes a live group Q&A session with a Certified Elliott Wave instructor. The instructor will help answer any questions you or your fellow students may have about the course material or the Wave Principle.

Prep courses of this quality would normally cost at least $200 each. However, we want to make the information as accessible as possible. So, when you purchase the exams, you’ll get the prep courses for no additional cost.  

For more details about the prep courses, see the “Exam Process and Prep Courses” tab on the right-hand navigation.

Register now for CEWA Exam I

  • Exam I Prep Course ($200 value) — Live Q&A September 2024



Register now for CEWA Exams I, II & III*

  • Two test retakes** ($300-$500 value)
  • Exam I Prep Course ($200 value) — Live Q&A September 2024
  • Exam II Prep Course ($200 value) — Live Q&A September 2024
  • Exam III Prep Course ($200 value) — Live Q&A TBD

$2700 – $2900


*Your access to Exams II & III opens when you pass Exam I
**If you pass all three exams on the first try (it’s rare!), we’ll gift you a three-month subscription to a service of your choosing