optiongurus 18 posts msg #56894 - Ignore optiongurus |
11/20/2007 7:59:37 PM
Anyone in here use elliot wave theory in their trading? I have a scan that picks up the 123 then retraces the ABC in stock charts, my timing is alittle off so I usally end up missing part of leg A or I pick it up late on leg 3 on the 60 but my timing is off. Does anyone have anything similar in stock fetcher? That and I was wondering if anyone has created a filter that mimics the 60 or 30 minute (12,26,9) macd that you can see on the daily charts? Any help would be appreciated. I thank you for your help fellow traders. Cheers!
|
bkhurana43 103 posts msg #56903 - Ignore bkhurana43 modified |
11/21/2007 8:43:40 AM
Please post your existing scan with reasonable explaination so that fellow traders can comment and see what you are trying to achieve.
|
danglin 37 posts msg #56922 - Ignore danglin |
11/21/2007 8:23:07 PM
I use Elliott Wave in my trading strategy.
To identify Elliott Wave turning points I utilize Profitsource:
It identifies all 123.... and ABC points for you.
My basic strategy is this:
(1) Scan your Watchlist for stocks resting on a trend line or a Fibonacci line of support. (see my prior thread on how to find strong stocks in Investors Business Daily and Vector Vest to create watchlist. email me and I can tell you what program to use to automatically scan for Fib lines and trendlines).
(2) View the resulting symbols in Profitsource to see which stocks are at a Elliott Wave turning point.
(3) Analyze the resulting list to check for a 1 day change in PUT/CALL Open Interest Ratio to see where the "sentiment is".
(4) I only trade when stock has moved passed my midpoint (or pivot point) and when overall market and my symbol sector are moving in my trade direction. I use cool-trade for this by writing algorithm to check for these conditions.
Very sophisticated, comprehensive but SURE trade that guarantees wins.
Cheers!!!
|
jbrtrader 32 posts msg #56937 - Ignore jbrtrader |
11/22/2007 2:18:59 AM
Here is a basic one that brings up a few nice wave patterns.I find it usually picks up at the A or C wave of 2's and 4's.Might be able to tweak it to your time frame.Nice thread,hope to see more input!
EWAVE: Show stocks where Close gained more than 20 percent over the last 30 days
and price closed below the DMA(7,+5)
and Average Volume(90) is above 150000
and close is between 5 and 50
|
SFMc01 358 posts msg #56946 - Ignore SFMc01 |
11/22/2007 2:57:26 PM
danglin; how do I email you in order to ask questions like what program you use for fib lines?
Thanks ... Steve SFMc01@aol.com
|
danglin 37 posts msg #56965 - Ignore danglin |
11/24/2007 7:20:56 PM
danglin462@aol.com
|
dangreene 229 posts msg #56981 - Ignore dangreene |
11/25/2007 12:19:40 PM
http://www.ddmachine.com/
For Fib and Pivot point calcs, Click on "calculators" tab
|
jbrtrader 32 posts msg #57103 - Ignore jbrtrader |
11/28/2007 3:07:54 PM
danglin,
That software your using looks interesting,wondering if you could tell us what its reading for the QID?Thanks
|
moqual 38 posts msg #57106 - Ignore moqual modified |
11/28/2007 3:47:49 PM
I believe that after today's huge 300+ point rally, the DJIA is tracing out the 4th wave of a 5 wave decline that began at the October 11th high.
Danglin,
Does your software agree?
|
jbrtrader 32 posts msg #57122 - Ignore jbrtrader |
11/28/2007 5:22:14 PM
moqual,
With that count, I'm assuming that your expecting some form of alternation to form here for wave 4.One thing I see that could negate that count would be a violation into 13,400 or higher,then the overlap comes into the picture.An alternate looks like a completed a,b,c wave from the Oct high with the c leg measuring very close to a nice 1.618 of wave a.
|