Elliott Waves Indicator

Description:




The indicator doesn't draw the Elliott waves, but it helps you to
define them.


Lets consider how does it works:



1. The WAVE. The first, you should draw any trend
line using Fractals and define its name it in the following form :
"1*****", for exampe: "1 wave". After the first
tick, or if you don't want to wait for it, update it using the right
mouse button you will get the picture like this:






The dotted line with rectange shows the estimated
price movement, and if the wave has been defined correctly, the price
will came into the estimated rectange. V is the average volume in the
1st wave.



After that, we are waiting for the lower fractal and
rename the dotted line to "2 wave" (note that the number and
space after it are important). Now moving the end of that line on the
next formed fractal (lower) and we will get the estimated price movement
in the 3rd wave:



(if you have moved the line to the bar without
fractal, the indicator will inform you about it and will try to move the
line by its own vision. If the line hasn't been moved by the indicator,
you should move it on the fractal manually)








After the price will reach rectangle (in our case we have the movement,
the price moved upper than the estimated target), you should rename the
dotted line to "3 wave" and remove it to the upper fractal. The
result you will see looks as follows:



The indicator informs us, that the average volume in the 3rd wave
is always larger, than in the 1st wave. So it's possible that our
wave definition was wrong.


But anyway, we have reached the target estimated and we can continue.


After the price will reach the estimated target and after the next
fractal formation we rename the dotted line to "4 wave" and remove its
end on the fractal:



Further, we should wait for the upper fractal in the target estimated
and draw the "a b c" retracement. Read the book "Trade Chaos" by Bill
Williams for the details.

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PREGUNTA, LO TIENES AUN ADMIN ???

GRACIAS

gabrielandres escribió:PREGUNTA, LO TIENES AUN ADMIN ???

GRACIAS

Prueba este enlace COMPAÑERO espero te sirva.. buen fin de semana.
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