|From : v srikanth at 09:09 PM - Sep 03, 2010 (10 hours ago) Reply to v srikanth|
|Subject: Elliot wave calculator|
|Hi Santosh, Hope u r doing fine, did u have Elliot wave calculator in Excel sheet. If yes please gimme plz.|
The Elliott Wave Principle helps in describing how financial markets behave. As per the principle, markets create specific wave patterns in price. These wave patterns are often found to be in particular Fibonacci ratios.
I am uploading an Elliott Wave Calculator.
The calculator will help to broadly classify various waves associated with the Elliott Wave principle as per the Fibonacci ratios
Some of the commonly accepted ratios and rules have been taken into account while making the calculator.
Following assumptions related to price aspect are made while making the calculator.
1) You need to first establish Wave 1, based on that rest of the waves have been calculated .Once Wave 1 is identified, insert the values in grey cells under “FROM” and “TO” Cells
2) Wave 2 is 0.618 times Wave 1
3) Wave 3 is 1.618 times Wave 1
4) Wave 4 is 0.382 times Wave 3
5) Wave 5 is equal to Wave 1
6) Wave A is 0.382 times Wave 5
7) Wave B is 0.618 times Wave A
8) Wave C is equal to Wave A
Following assumptions related to time aspect are made while making the calculator.
1) Once Wave 1 is identified calculate the number of price bars between the start and end of the wave. Insert this in calculator (grey cell under the column “Time Bars”)
2) Wave 2 is 0.618 times Wave 1
3) Wave 3 is equal to the sum of time between Wave 1 and Wave 2
4) Wave 4 is 1.382 times Wave 2
5) Wave 5 is 1.382 times Wave 4
6) ABC waves is half in length to 12345 waves
7) Wave A and Wave C are of same time duration.
8) Wave B is 0.618 times Wave A
The above points are commonly accepted ratios in Elliott wave principle and thus are not absolute values
I feel if Elliott Wave price projection is used with oscillator divergence and trend channels, it can give quite reliable price projections. With the help of the calculator we can quickly form an opinion about the current trend in any time frame from 1 min to 1 month or more, in any stock or index
The calculator is still under development stage, price calculation have been fully developed, some aspects regarding time need to be modified if required
Lastly I would like to thank Ilango of http://tradeinniftyonly.blogspot.com/ for his valuable inputs in conceptualizing this calculator.For detailed information about Elliott wave ,please visit his blog.
Please post your feedback , suggestions and strategies about how this can be use in trading.
From : Vimal Raj at 11:50 PM - Aug 07, 2012 ( )
How to use this system
1. This system can be used for both intraday and positional trading.
2. To use this system, you must enter the high, low and close for the time frame, you want to trade.
3. If you want to trade for a time period of one week, take the high,low and close of the last week before beginning of next week.
4. If you want to trade for a time period of one month, take the high, low and close of the last month before beginning of next month.
5. Similarly for one year.
6. If you want to trade intraday, you should take the high, low and closing price for previous day.
Now lets take an example for trading 1 week time frame
Example - 1 Week
1. I noted down the high, low and close for 9th April week for Nifty future.
2. High, low and close are 5398, 5290.10 and 5364.90.
3. I get two sell signals.
Go Short at / below 5398. Stoploss at 5403.39. Target 1 is 5331.31.
Go Short at / below 5372.53. Stoploss at 5403.39. Target 2 is 5320.09.
4. Based on this call, I will try to sell at or below 5398 for target of 5331.31 (target achieved)
I will then wait for price to come again near second sell level (5272.53).
I again try to sell at or below 5272.53 for target of 5320.09 this time (again target achieved).
Example - 2 Intraday
1. I note down the high, low and close for the previous day (say 08/04/2010) for Nifty future.
2. Lets say they are 5370, 5290.10 and 5301.60. 3. I get three buy signals.
Go Long at / above 5290.1. Keep Stoploss at 5284.8. Target 1 is 5320.62.
Go Long at / above 5301.76. Keep Stoploss at 5284.8. Target 2 is 5340.59.
Go Long at / above 5316.54. Keep Stoploss at 5301.76. Target 3 is 5365.92.
4. The next day, low for Nifty future was 5307.10. So i could not buy at 1st and 2nd buy signal prices.
But I could enter long at 3rd buy signal (5316.54) for target 5365.92 (target achieved)