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Stock Screening, Elliott Wave Screening
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Stock Screening, Elliott Wave Screening

  #1 (permalink)
Elite Member
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Stock Screening, Elliott Wave Screening

Are there criteria for Elliott wave 3 or for Elliott wave 5 that can be used in programming code for a stock screening application?

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  #2 (permalink)
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  #3 (permalink)
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waves

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wave 3 has to be the longest wave of the pattern, it should be 161% of wave one, wave 5 should be close to the size of wave one. those are just general guide lines. wave 4 should not retrace into wave two. but in real trading its fuzy like every thing else

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  #4 (permalink)
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I mean no disrespect to your answer, but I didn't see any programming code or criteria in which to make programming code. I know what these waves are suppose to look like, but putting the "longest wave" into a programming code is very difficult - as would be the percent retracements. There may be some other way to program a search criteria.

Sorry, but I clicked the wrong button. Your answer cannot help me. Thanks for your effort.

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  #5 (permalink)
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sorry i did not understand the question

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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  #6 (permalink)
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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.


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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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  #7 (permalink)
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it looked good

hope you had a call spreed on and did not lose much

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  #8 (permalink)
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There is a book called "Elliott Wave Techniques Simplified" by Bennett McDowell
Which explains finding the wave count by a price oscillator historgram , which he calls the "Optimum Wave Locator " with a Relative strength index (RSI) called (PTF) they can be purchased on his site :WWW.TradersCoach.com. I have not used the indicators as I subscribe to an Elliott site.

You would need a basic understanding of the Elliott Wave Theory

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