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..... people with a lack of intelligence.
you're the one who's missing....
Bill Williams's books are typical trash. i have read his books. i think that this old fool has not invented anything useful, despite the pretentiousness of his statements. and i have the impression that most books are designed to lead people away from the essence.
+1
The fractal theory preached by Mandelbrot, Taleb and their followers does not say much about predicting future price increases and volatility, they just talk about "fat tails" and risky markets. There are no quantitative models. Moreover, the fact of "fractality" is declared purely speculative, empirically, by the fact that one can iteratively get thick-tailed distributions similar to the generation of fractals, which seem to be similar to the price ones. So even the founding fathers offered nothing practical other than intimidation.
I'm not against fractals, but for the moment it is a poorly worked out conceptual system, very vague boundaries even of the concept itself, a very big circle of phenomena can be called a fractal and it is rather difficult to make any practical sense out of the fact of fractality.
And Bill Williams is the most typical near marketer, and unlike at least PhD in mathematics Mandelbrot and Taleb, he is a PSYCHOLOGIST, and in his books I do not remember which one, but exactly was, "an exercise in meditation" )))))))))) This is for completely naive citizens.
You can't do without Williams. His Super AO is a really grainy indicator. Counting waves is very easy. There are clear rules. You just have to follow them.
Three basic applications of the AO indicator (Awesome Oscillator) when calculating the Elliott Waves.
1. To determine the peak of the 3rd wave of any order on any time frame.
2. To determine if the minimum conditions are met for wave 4. (Passing of the histogram over the zero line after the peak of the third wave)
To identify whether there is a divergence between the price and the driving force, and also to show what the value of the driving force of the market is now.
Determining the peak of wave 3 using the AO.
Wave 3 will have the highest peak on the AO of 100-140 bars.