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Elliott Wave Indicator - Elliott Wave in 1 Second

Q&A and Support about Steve's (Snorm) Indicators
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User avatar
autopro
Posts: 19
Joined: Fri Jan 06, 2012 11:22 am
9

Re: Elliott Wave Indicator - Elliott Wave in 1 Second

Unread post by autopro »

Hi Steve,
Re The attached image, there is no clear explanation in your manual, can you please explain…
1. As you see there are 2 no. (3) wave markers, one green one red,
its not clear why they’re one after the other and why one
is green and one is red? Does the number represent the start or end of the wave?
i.e When it shows green (3) is this the start of the wave and red (3) the end?
2. On the image there is a Green (and sometimes red) “target” icon (dot with circle around it)
There is no mention of what that is?
3. The red dotted diagonal lines are the join of the wave indicators, PA highs/lows?
4. The vertical red lines have numbers on them what are they representative of?

Is there more info or details somewhere that I have missed???
steveEWind.jpg
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User avatar
snorm
Posts: 306
Joined: Sat Aug 13, 2011 9:57 pm
10

Re: Elliott Wave Indicator - Elliott Wave in 1 Second

Unread post by snorm »

autopro wrote:Hi Steve,
Re The attached image, there is no clear explanation in your manual, can you please explain…
1. As you see there are 2 no. (3) wave markers, one green one red,
its not clear why they’re one after the other and why one
is green and one is red? Does the number represent the start or end of the wave?
i.e When it shows green (3) is this the start of the wave and red (3) the end?
2. On the image there is a Green (and sometimes red) “target” icon (dot with circle around it)
There is no mention of what that is?
3. The red dotted diagonal lines are the join of the wave indicators, PA highs/lows?
4. The vertical red lines have numbers on them what are they representative of?

Is there more info or details somewhere that I have missed???
Hi Jeff

The two '3' markers represent what the indicator sees to be to the top/bottom of up and down Wave 3 moves - red for down and green for up.

The 'target' icon is where the indicator thinks Wave 1 might have started - it from this point that the Fibonacci Expansions & Time Zones are computed. Again, red for the start of a down-move and green for the start of the up-move. The PDF that explains the options on my web site says: "It must be noted that the start of Wave 1 can be very tricky to spot, even for the naked eye, let alone to program. As such, a symbol is displayed (rather than a number) and it is from this point that Fibonacci Expansion and Time Zones are calculated"

The dotted diagonal lines, which can be green or red, are the Fibonacci Expansion line points - from start (symbol) to W3 to W4

Vertical red lines are the Fibonacci Time Zones - the text attached to them should explain what they are but you'll also need a bit of an understanding of Fib Time Zones for this. The first horizontal line shows where the projection is calculated from (ref the FibTimeFromPeak option). The second vertical line shows where W5 should be - this can be set in the options (FibTimeLevel1)

Please note that the Wave counts on the price chart are for information only, to show how the indicator is working out the Fib stuff. It is not necessary to have them on the chart (too many things on the price chart detract from reading the price action), hence why they are not shown by default. The MOST IMPORTANT part of this indicator is the wave count on the histogram - this is the crucial and most useful part of the indicator, underpinning the AIMS trading system and removing subjectivity as much as possible.

Hope that helps :-B
cheers
Steve

User avatar
Herbert
Posts: 587
Joined: Sat Jan 07, 2012 12:18 pm
9

Re: Elliott Wave Indicator - Elliott Wave in 1 Second

Unread post by Herbert »

Haha, welcome to elliot-ala-rolls-royce Jeff..... study this baby closely dude.... Let the Chaos lead you...hehe :D

Hey Steve...... i am totally paralyzed for the day....... My amazement on your work achieved here is overwhelming... all the extra's i was not even expecting....sinking in.....WOW. B-)
As we say in Afrikaans here in good ole' RSA: "Jy mag maar boet!!!"

AWESOME! AWESOME!! AWESOME!!
I cannot grasp how you could only charge what u did for this... Yeah, as mentioned, $500 does not even stick... :o

I've subsequently taken the day off to get over myself... :-
Herbert
Luck = LABOR UNDER CORRECT KNOWLEDGE - Forex Joe
"Nothing wins more than superior research and preparation"
AIMS - The art of Trading markets successfully

User avatar
Herbert
Posts: 587
Joined: Sat Jan 07, 2012 12:18 pm
9

Re: Elliott Wave Indicator - Elliott Wave in 1 Second

Unread post by Herbert »

And this is ONLY V1.0 (rofl) (rofl) (rofl) (rofl) (rofl) (rofl)
Luck = LABOR UNDER CORRECT KNOWLEDGE - Forex Joe
"Nothing wins more than superior research and preparation"
AIMS - The art of Trading markets successfully

User avatar
immy
Founder
Founder
Posts: 8689
Joined: Mon Nov 22, 2010 4:46 pm
11

Re: Elliott Wave Indicator - Elliott Wave in 1 Second

Unread post by immy »

Remeber we do not trade Elliott Wave it is there as an opinion, it is there to give us confidence. We trade the Setup and only the Setup but the Ewave analysis Takes Care of THE MIND part of trading by giving you confidence and reason to Exit etc.
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What is the Biggest Hidden Secret of Successful Trading?
The Consistent Pursuit of DS1 :nerd