In 1938, a monograph entitled The Wave Principle was the first published reference to what has come to be known as the Elliott Wave Principle. The monograph was published by Charles J. Collins and was based on the original work presented to him by the founder of the Wave Principle, Ralph Nelson (RN.) Elliott.
Elliott was very much influenced by the Dow Theory, which has much in common with the Wave Principle. In a 1934 letter to Collins, Elliott mentioned that he had been a subscriber to Robert Rhea's stock market service and was familiar with Rhea's book on Dow Theory. Elliott goes on to say that the Wave Principle was "a much needed complement to the Dow Theory."
In 1946, just two years before his death, Elliott wrote his definitive work on the Wave Principle, Nature's Law—The Secret of the Universe.
Elliott's ideas might have faded from memory if A. Hamilton Bolton hadn't decided in 1953 to publish the Elliott Wave Supplement to the Bank Credit Analyst, which he did annual‑
ly for 14 years, until his death in 1967. A.J. Frost took over the Elliott Supplements and collaborated with Robert Prechter in 1978 on the Elliott Wave Principle. Most of the diagrams in this chapter are taken from Frost and Prechter's book. Prechter went a step further and in 1980 published The Major Works of R.N. Elliott, making available the original Elliott writings that had long been out of print.