Hey! I'm JugglingCow, howd'yado. This is my Olaf guide, I was having lots of trouble with playing Olaf, and many guides out there just couldn't help me play him, and this one may not suit you, there will be guides out there that might, or you can alwaus just try to go on your own accord. Olaf is a great champion, as his abilities offer him much sustain. In fights he is a beast, and will take down two or three foes before he can be shut down. I had stopped playing Olaf after trying and failing miserably many times, until recently I thought "You know what? Let's give him a try." and it when successfully! I would get two kills in team fights, and most of the time escaped.

I thought E was the smart choice too, because of all the true damage, yes that is useful in fights - VERY USEFUL. W is more useful as it allows you to build tankiness right at the start and get good damage too (as it works off of a percentage of the health Olaf has.)
What also is great about W is it gives you is boosted healing effects, life steal and spell vamp! Yes! That means if you're in a fight and it is maxed, not only will you be doing insane damage.

As a bonus when W is maxed it gives you not only an extra 21% increase to Life Steal to heal you when slamming axes in faces, but also 21% extra spell vamp effects when you're striking lightning down on your foes or chucking axes in the back of running cowards!

Pros
Olaf is pretty unkillable once you grasp his abilities.
Olaf can slow escaping enemies with axes.
Olaf can take down many enemies with his true damage and life steal.
Olaf can escape from his enemies, unable to be slowed with his ultimate.
Olaf's ultimate gives him huge armour and magic resist when activated.
Olaf's axes give off a small splash of damage to minions surrounding it's landing point.


Cons
Olaf if focused by a team of more than 3 may die too quickly to kill his enemies.
Olaf's true damage ability eats away at his health.
Olaf can die easily if against someone with a quick knock up without warning.
Olaf's axes, as a skill shot, can fail to hit the target.

When farming, the only ability that should really be used is his Q, it gives him splash damage to wipe out creep waves quickly and takes mana, not health (this ability shouldn't be used if you are exchanging pokes with the enemy, as it will be needed for such.) His W has to be reserved for unexpected ganks/fights.
His Q can have reduced CD (cooldown if you did not know.) if he walks to the axe and picks it up.

I have chosen the runes I have to make Olaf harder to kill (Magic Resist + Armour + Health). It gives his early games increased sustain, the increased health also adds to the effects of his W.
The attack speed runes are so you don't need too many attack speed items.
The attack damage allows him to have better base attack damage, of course for early game damage.
The armour penetration is perfect as he will be getting natural attack damage from his masteries, runes, items and his W. This will allow him to cut through the armour people start with or might try to build to counter you.

Fighting one on one

Only if you are facing an AP champ or AD champ who has high burst - In example Fiora or Kha'Zix.
Pop your ulti!
This should be used when diving straight into action, to give you that huge damage!

Use this when they're about 75% full health, to rock them down a lot.

If needed, to give a little push to their demise, chuck this where you are (judging you should be all up in their grill right as you are ready to use it.)

If you need to escape or someone comes to gank, pop this bad boy.

Fighting a small crowd or more

Pop this immediately!

Then pop this, when you've popped your R + W, begin taking them down one by one, aiming at the highest damage dealers first.

Pop this while facing every one who goes against your might!

This can be used for team poking, people escaping, enemies all standing together or even just to push your enemy to lower health!


IF YOU DID NOT USE YOUR ULTIMATE AND YOU WON THE FIGHT, BUT YOU ARE LOW ON HEALTH AND SOMEONE IS CHASING YOU. POP IT! - Or if all your abilities are available, turn around and destroy that poor sucker!

The masteries are there to make you better.
In the Offense mastery tree we only go for nine points because you'll be doing more pew pew with Olaf in the Defense mastery tree (because of health and his W of course.)

With the Defense, it's pretty simple, we go for twenty one points so you get more health and thus do more boom boom with the W! It's also there for durability and sustain of course, you'll be wanting a lot of that on Olaf.

In summary, it's simple! If you see someone who is at full health and you're at full, you can probably take them. Don't commit suicide under turrets for no reason. Get your items as listed, the runes and masteries are key for him!
Remember, it goes max W, R, Q, E.
When fighting against someone who's alone who is AD it goes W, E, Q.
When fighting against someone who's alone who is AD burst or AP it goes W, R, E, Q. (For the major WREQage.)
When fighting against a team it goes R, W, E, Q.