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

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

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)
KNOXVILLE TN.
 
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waves

Answer
This post has been selected as an answer to the original posters question Answer


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)
Los Angeles, California
 
Trading Experience: None
Platform: MotiveWave, Optuma, Wav59
 
Posts: 42 since Jun 2012
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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)
KNOXVILLE TN.
 
Trading Experience: Advanced
Platform: nijia trader
Broker/Data: A.M.P. I.Q. ....C.Q.G.
Favorite Futures: ym
 
Posts: 538 since Mar 2012
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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)
Los Angeles, California
 
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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

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

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  #7 (permalink)
KNOXVILLE TN.
 
Trading Experience: Advanced
Platform: nijia trader
Broker/Data: A.M.P. I.Q. ....C.Q.G.
Favorite Futures: ym
 
Posts: 538 since Mar 2012
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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)
melbourne victoria australia
 
Trading Experience: Advanced
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Posts: 79 since Apr 2016
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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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  #9 (permalink)
Waco + Texas/USA
 
 
Posts: 26 since Sep 2018
Thanks: 0 given, 7 received

Science direct has an article titled Multi-classifier based on Elliott wave’s recognition. This contains all fuzzy logic and neural net algorithm information for designing and implementing what you are attempting to do.

This should give you the relevant information you are looking for. There is also at least one open source project written in c++


Sent from my iPad using Tapatalk

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  #10 (permalink)
Malaga
 
 
Posts: 1 since Feb 2019
Thanks: 1 given, 0 received

Elliott Wave Rules and Observations Are Key


Understanding the basic rules for Elliott Wave trading is important, but understanding some of the strong observations is also key to successfully trading the 5th Wave in particular...

Elliott Wave Theory Observations important to TradeTheFifth dot com

Observation 1
The first observation is a general Elliott Wave Theory observation and when present builds confident in the relationship between Wave 2 and Wave 4. Not forgetting the 3 Hard Rules still apply….

In many cases if Wave 2 is simple then the Wave 4 is most likely to be more complex and vice versa. The Chart Below gives a great example of this confidence building observation.

Obervation 2
The second observation helps us determine a target price for the 5th Wave. Along with previous support and resistance levels from one time frame up to what we are trading.

The Wave 1 and Wave 5 tend to be the same size. and further more the 5th wave is usually between 120% and 140% of the height of the 4th wave. To simplify this method of of calculating the target for the 5th wave, please watch the video below.

Observation 3
This is the first of two Elliott Wave Observations that are included in our indicator suite as they are measurable. We have provided automatic Wave 4 Pull Back Zones that measure the depth of the Wave. This is compared to that of the whole length of the 3rd Wave. These are represented by Green, Amber and Red zones on your chart and are dynamic. They adjust until the Wave 3 high has been found and the 4th Wave Pull Back is underway. If the Wave 4 Pullback finds support/resistance in the Green Zone then there is an 85% probability that a new Wave 5 high will occur. For the Amber zone it is 80% and then the Red Zone is 75%. These zones use Fibonacci retracements between the Wave 2 and Wave 3 extremes.

If the Wave 4 pull back goes beyond the Red Zone then the probability is too low for a Wave 5 will occur. Therefore a real possibility that the trend will fail. You are really rolling dice if you look for a trade out of these zones.

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