aaven wrote: Thu Jun 11, 2020 3:59 am
Implant,

Could you please have a look at my markup and let me know if any error in understanding the system's components?

I have removed some of them temporarily to better understand the others and will add them shortly.

I Request your guidance in understanding the below:

1. Could you please explain the star symbol and what it means?
2. The Semafor count in 15 Min TF- Some times there are counts that are overlapping; like in the snapshot-Example[0,3]. How does one distinguish which count belongs to which time frame?
3. The master Semafor which starts the count i.e. Zero-is it based on Hourly or 4HR or any other time frame?

Thanks

Judging by the first picture, you absolutely correctly compared the indicators of the system with their graphical display on the chart.
Now about the second picture and your questions ...
1. The star symbol is part of the TrendEnvelopes indicator, which means that at the moment the price has dropped / risen above the indicators line itself, which may be a possible change of direction. This signal requires confirmation. Highlighted in yellow to attract attention. In general, in the system, everything that is displayed in yellow is attracting attention.

2. There are only 2 MTF indicators in the system !!! These are TrendEnvelopes and SuperTrend. All other indicators works only on the current TF, including semaphore and wave counter. The timeframe correspondence table for both indicators is given below.


3. The indicators semaphore and wave counter are two independent and unrelated indicators. Its display their values ​​for the current TF of the chatr (not MTF).
The semaphore indicator in this setup is non-repainting !!! This means that the points displayed by it, can only change in the direction of increasing significance, but never in the direction of decreasing! There are 3 types of points displayed by the indicator ...
1- black dot (minor), 2- red in the gray ring (middle), 3- red in the big yellow ring (major).
For example, a black dot may turn red later, but never vice versa! This indicator is used rather as a control of how correctly the position is open, at the same time, also to search for the second point. In the figure below, the situation when the second point of the semaphore did not coincide with the second point of the wave counter.




In this case, we can use the second semaphore point as an equivalent signal for the subsequent opening of a position. In this figure, the second points, although they did not coincide, are nearby. But there are situations when they don't coincide significantly and in these cases the interchangeability of the second points of the semaphore and wave counter helps a lot, allowing you to open a position at a much more favorable price.

4. Wave count indicator - not MTF !! Displayed as circles with a number inside. Circles come in two colors - pink for counting down and green for counting up. The indicator calculates waves according to the original algorithm (not a zigzag and not Elliott waves). From the third peak, the count goes simultaneously in two directions, so there are combinations such as 3-0, 4-1, 5-2, as shown in your picture. This means that if the price doesn't go below the pink point 3, then this will be the zero (starting) point for the subsequent countdown. Then peak 4-1 is formed, but if the price goes further down, then the green dots with numbers 0 and 1 will simply disappear and only pink point 5 will remain, which will subsequently be the beginning of a possible new countdown. Thus, we get a combination 5-0. The logic of this indicator is somewhat complicated for perception, and obviously you haven't yet fully experienced the laws of its behavior. It takes time. But as usual for us, the main point is the second, no matter what color. In the figure below, the current situation with SP500 on the M5 timeframe.



A strong downward movement, consisting of two full wave counts from 0 to 5. Note how points 5 and 0 coincide with the change in the significance of the semaphore vertices, so the semaphore separates these two counts from each other. Watch further, not yet see...