Another version

Papybillou wrote: Sat Feb 25, 2023 11:11 pm Another version

same here

Example EW_ABCD_PRO_fix.ex4

This indicator has nothing to do with Elliott Wave Theory and never has. In the original, this indicator is called MT4 GoodTrade3.
In fact, the indicator determines the initial zigzag and builds price targets based on fibonacci extensions from the first driving wave. The indicator has a tricky mechanism for splitting the chart into zigzags. There are many versions, but I have never seen the original mq4 file. The indicator is very, very useful when used correctly. And as for the automatic construction of Elliott waves - you can relax and exhale - no, there have not been and will not be such indicators and programs, most likely it is impossible. All similar programs and indicators that I had to test (and there were a lot of them, about 10) use the usual zigzag to split the chart into waves, which is fundamentally wrong, because it is impossible to do it correctly with this approach. An adaptive dynamic zigzag algorithm is needed, the parameters of which would change depending on changes in a number of factors. Even programs created separately for this purpose, such as Elwave, for example, can't do this correctly.

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MayaxatL wrote: Wed Jul 22, 2020 2:24 pm Elliott Wave Good Trade 3

It repaints a lot

Elliot Wave Theory (EWT) IMO is just a theory and has no consistent profits. It's speculative at best and there is no definitive answer on the waves formations. It is left to the trader to guesstimate which wave 12345/ABC. I tried EWT is using an oscillator to confirm with divergence wave 3 and 5, but the moves always seemed counter trend. The only logical way I saw value in using EWT was to use a higher timeframe (TF) as your base and try to enter on a lower TF using EWT going back in the direction of the higher TF. But who wants to watch there charts for hours waiting for a setup.

I found no value in the study and have moved on to trading pairs against the opposite index. This has proven to be more consistent than anything I have ever used!!!

precisely rubbish to be thrown in the bin

tiaulu wrote: Thu Apr 04, 2024 2:38 pm precisely rubbish to be thrown in the bin