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Stock Screening, Elliott Wave Screening

  #6 (permalink)

Los Angeles, California
Trading Experience: None
Platform: MotiveWave, Optuma, Wav59
Posts: 42 since Jun 2012
Thanks: 3 given, 11 received

I did purchase MotiveWave when I took the Wavy Tunnel II class online. I have tried the scanner and it scans for selected waves, but it has no other selection criteria and I have to step through the results and do further analysis on another platform. I've used the Elliott Wave indicator and the Harmonics Indicator to forecast stock price movements, but sometimes these two indicators project in opposite directions. I'm not sure what lookback period is best for these indicators to get the best forecasts.

Regardless of this, in January of this year I did a forecast analysis using MotiveWave for ODP (Office Depot) and it projected strong increase of prices from both indicators; however, shortly after the analysis the prices crashed from $3.66 to $2.27. See image below. The forecast looked so optimistic and the trend seemed to confirm the movement, but probably some corporate action made a dramatic change in the movement.

I use the coding features of ThinkOrSwim and Amibroker to create screening criteria and I'm looking for some programmable characteristics of Elliott Waves to program them. I've seen Ramp9 scan for Elliott Waves, but just like MotiveWave, the scan features are limited and not customizable.

forgiven View Post
most of the traders i know that are good with waves use motive wave. you may not have to do any programing with there scanner. i am not sure. it cost like 1500.00 but they will take 1100.00 if offered most of the time. hope it helps

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