An automated wave chart for NEoWave wave analysis. This is an automated wave chart plotter that help you to find the current psychological trend and forecast the next one. This Indicator uses the concept of plotting wave charts as per the NeoWave method invented by Glenn Neely in 1990 in the “Mastering Elliott Wave” book. NEoWave is a advanced version of elliott...
This oscillator for the Elliott Theory has been invented by Tom Joseph and it's useful to correctly count the impulsive and corrective waves. Its difference compared to a simple MACD is the peculiarity to use the ratio between the Fast SMA (default period set to 5) and the Slow SMA (default period se to 35). The used formula is as below: ( (fast_SMA / slow_SMA)...
Elliott Wave, indicating possible waves 2, 3, 4 and 5 Based on my Elliott Wave - Oscillator, this signals are converted into numbers displayed on chart: Waves2, Waves3, Waves4, Waves5: - Indicated on Chart with numbers Fib fan Wave 4 retracement - Blue, green and red lines for optimum retracement Probability and target for wave 5 - Plotted when wave 4 is...
Elliott Wave, indicating possible waves 2, 3, 4 and 5 Based on my Elliott Wave - Oscillator, this signals are converted into numbers displayed on chart: Waves2, Waves3, Waves4, Waves5: - Indicated on Chart with numbers Fib fan Wave 4 retracement - Blue, green and red lines for optimum retracement Probability and target for wave 5 - Plotted when wave 4 is...
Waves3: Indicated in RED Line(Upwards) and Green Line(Downwards) - Detects wave greater than SMA Waves4: Maximum height indicated in yellow Line - Detects when wave greater than SMA (Wave 3 or 5) approaches wave 4 regression point Waves5: Indicated in White Line - Detects divergence in oscilator and price, meaning end of trend Appreciate any suggestions,...