Modern Elliot Wave trading using Elwave. - page 20
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To: Lalthan and Joe44
Thanks, Joe44, for the suggestion. That is a good idea.
Lalthan, you can go to 4shared.com - free file sharing and storage and do a public search for "gbpjpy1.csv" file to download, and then generate the Elwave 7.6 chart.
We can then compare the chart pattern and wave counts to see what are the differences?
kennethThanks, Kenneth, for the help. I am trying to lay my hands on one of these Elwave softwares to explore what it is all about?
Joe44
Helping the cause... Opening that gbpjpy1.csv on elwave 7.6
If you need modification to my setting let me know.
Having running Elwave in real time almost all of past week and giving it a try again this week, i had not experience any alert in the Alert Inspector window yet. Any idea why anyone?
Hi guys,
I have attached my wave calculation from Kenneth's file as per GreatYves's setting.
It is corresponding nicely with GreatYves's count (Image attached).
I will show another analysis with analysis of entire chart
I have done another analysis using the total record count from the csv file. However, the wave count analysis is now totally different from GreatYves's file.
My question is:
1. What difference does the analysis from the last 24000 records compared to the total analysis from the whole records?
2. GreatYves - How do you define this number (i.e. last 24000 records). Is this the beginning of a cycle or is it a random number?
3. If we are updating from a particular random record number (e.g. last 24000 records), are we ignoring the larger time frame?. I believe this is important in case the wave formation of the larger time frame is yet not completed and hence, we may get analysis which is completely against the larger time frame.
Another request: How do you guys get that drop down on the top right hand corner of your Elwave i.e. the drop down of CYCLE etc. It is not appearing in mine.
Thanks
I have done another analysis using the total record count from the csv file. However, the wave count analysis is now totally different from GreatYves's file.
My question is:
1. What difference does the analysis from the last 24000 records compared to the total analysis from the whole records?
2. GreatYves - How do you define this number (i.e. last 24000 records). Is this the beginning of a cycle or is it a random number?Random.. 24000 of a hourly .csv is 1000 days. If daily .csv it's 92 years... But i wonder if it really works that way.
3. If we are updating from a particular random record number (e.g. last 24000 records), are we ignoring the larger time frame?. I believe this is important in case the wave formation of the larger time frame is yet not completed and hence, we may get analysis which is completely against the larger time frame.
Another request: How do you guys get that drop down on the top right hand corner of your Elwave i.e. the drop down of CYCLE etc. It is not appearing in mine.
ThanksIn the options... sorry got to run..
Ignore my question about the dropdown of CYCLE etc. I got it. I had displayed all my toolbars and hence, was completely hidden to the far right corner of the screen. Had to remove some of the toolbars to view it.
I have done another analysis using the total record count from the csv file. However, the wave count analysis is now totally different from GreatYves's file.
My question is:
1. What difference does the analysis from the last 24000 records compared to the total analysis from the whole records?
2. GreatYves - How do you define this number (i.e. last 24000 records). Is this the beginning of a cycle or is it a random number?
3. If we are updating from a particular random record number (e.g. last 24000 records), are we ignoring the larger time frame?. I believe this is important in case the wave formation of the larger time frame is yet not completed and hence, we may get analysis which is completely against the larger time frame.
Another request: How do you guys get that drop down on the top right hand corner of your Elwave i.e. the drop down of CYCLE etc. It is not appearing in mine.
ThanksAfter reflexion, Elwave settings for forex should not be the same as stocks or indices, since the price variation is much more limited, i mean a pair is usualy trading within a certain range. like USDCAD as always been trading somewhere between .65 cents to 1.45$ at most, (i think!)? gbpusd from 2.45 to 1.04 so these figure are relatively in a close range. Compare to a stock that can range from a few cents to many hundred dollars! Base on that knowledge maybe the time span (number of bars) can be much lower, say the last significative swing, from june 2001 so about 8.5 years or 8.5 x 260 = 2210, let's say 2400 bars would be enough, or that would be 100 days if you analyze an hourly chart. Now a consensus would have to be done on that figure, so we all have the same output. What do you think guys?
With bars set at 2400, elwave wave count seems to make more sense, here some charts made of daily mt4 history files.