Rank: Advanced Member
Groups: Registered, Registered Users, Subscribers, Unverified Users
Joined: 3/27/2006(UTC)
Posts: 41
Location: Singapore
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Hello all,
I wonder if we could have Elliott Wave programmed in Indicator Builder to identify the followings:
1) Up wave
2) Down wave
3) Targeted Price &
4) Timing for exit.
I came across during one of the preview where the presenter shown using a chart from www.profitsource.com that can screen stock with closed to the above set up.
The strategy is to screen stock already with the first two waves and make an entry for the third wave with profit at a predetermined exit (Price or date).
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Rank: Member
Groups: Registered, Registered Users
Joined: 5/17/2005(UTC)
Posts: 24
Location: London
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Hi royttm,
I don't see any programming limitations for such a function (using MSX and C++). The problem is find a mathematical decription for such features, which would be very tricky although I don't think it would be impossible.
How do you plan to distinguish between the different elliott wave degrees (there are 13 degrees ranging from Grand-grand supercycle to sub-sub minuette)?
Also how would described mathematically a corrective wave (such as a flat) or an impulsive wave?
In order to get correct fibonacci targetting, you would need to correctly identify each corrective and impulse wave in the sequence.
I haven't thought much about it at this stage but I'm sure there must be some way! :D
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