A high speed self-corrected algorithm is proposed for the polarization modulated ellipsometry (PME). In this post-flight analysis, we prove that a set of optimized ellipsometric parameters (EPs) can be obtained by using the intensities at 4 specific temporal phases. The correction ability to its initial phase by this technique has been demonstrated through a twisted nematic liquid crystals (TN-LC) cell under the driving of a square wave. Furthermore, the optimal modulation amplitude in obtaining the accurate and precise set of EPs will be discussed in this work. (C) 2011 Elsevier B.V. All rights reserved.