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Req Elliot Waves Pro Indicator

StaticX

Member
Hey Guys,

Does anyone have the following Elliot Waves indicator.

It is called "Elliot Waves Pro"



Cheers
StaticX
 

StaticX

Member
Well I finally tracked it down.

I have also attached an ebook to assist with anyone who does not understand Elliott Waves.

Looks interresting: Info from the site
* Yes, EWP shows alerts for Buy or Sell.
* Yes, you can use EWPro Indicator on smaller time frames (M1, M5?).
* Yes, works with all currency pairs.
* Yes, EWPro is highly profitable!
* EWPro has 80-90% accurate signals!

Cheers
StaticX
 

Attachments

Joy22

Member
Well I finally tracked it down.

I have also attached an ebook to assist with anyone who does not understand Elliott Waves.

Looks interresting: Info from the site
* Yes, EWP shows alerts for Buy or Sell.
* Yes, you can use EWPro Indicator on smaller time frames (M1, M5?).
* Yes, works with all currency pairs.
* Yes, EWPro is highly profitable!
* EWPro has 80-90% accurate signals!

Cheers
StaticX
Two clones IBFX wave and EWPro

joy22
 

Attachments

Roseli1965

New member
Need Help

Need Help

Hi StaticX

I am confuse on 1.2.3.4.5. and A.B.C.D.E ,read thru your file lead me more confuse , understand more or less about EW ....Need Help

Roseli1965



Well I finally tracked it down.

I have also attached an ebook to assist with anyone who does not understand Elliott Waves.

Looks interresting: Info from the site
* Yes, EWP shows alerts for Buy or Sell.
* Yes, you can use EWPro Indicator on smaller time frames (M1, M5?).
* Yes, works with all currency pairs.
* Yes, EWPro is highly profitable!
* EWPro has 80-90% accurate signals!

Cheers
StaticX
 

StaticX

Member
Hi Roseli1965,

Yup so am I. I know that one day I should really learn this price pattern, but I keep putting it off. I am actually in the process of searching for a video based guide on how to use and read Elliot Waves.

As soon as I do I will post it here in this thread.

I really really want to learn this price pattern as I have been led to beleive that it is quite powerful.

Cheers
StaticX
 

Roseli1965

New member
EwPro

EwPro

Hi StaticX

Yes we both in confuse land , this is powerful tools , man
Meant time I also searching , Hope god will help us.

See you man


Roseli1965



Hi Roseli1965,

Yup so am I. I know that one day I should really learn this price pattern, but I keep putting it off. I am actually in the process of searching for a video based guide on how to use and read Elliot Waves.

As soon as I do I will post it here in this thread.

I really really want to learn this price pattern as I have been led to beleive that it is quite powerful.

Cheers
StaticX
 

checkmail

Member
wolfwaves

wolfwaves

Helo friends this is checkmail and me too tried the elliot waves indicator but foun:)d wolfwaves to work better than the elliiot waves.Yeah wolfwaves too work good on anytimeframes but just require some modification in its coding to provide line to line signals.Hope you might find this useful.
 

Roseli1965

New member
Hi checkmail ,

Thanks man for your info , it really work? , wolfwaves, i never try it out .
How it works ? give me some info , Appreciate in advance , but am still want to know about elliot wave eventough is hard .


Thanks
Roseli1965



Helo friends this is checkmail and me too tried the elliot waves indicator but foun:)d wolfwaves to work better than the elliiot waves.Yeah wolfwaves too work good on anytimeframes but just require some modification in its coding to provide line to line signals.Hope you might find this useful.
 

checkmail

Member
Wolfwave Indicator

Wolfwave Indicator

Hello Roselli1965 this is checkmail and you are right elliot seems to be tough to learn as it includes lots of patterns that are nearly not possible to indentify or to remember it.
Even though didn't gave up, but later when inner elliot was exposed than just it was the limit for learning such thing which gives importance to even micro data to such an extent.

So later tried wolfwaves which have simple 4-5 patterns to follow but it also does have few different patterns like elliots but currently only follow bullish and bearish pattern.

Wolfwave consists of automatically drawn 1-5 point lines where another red line is drawn from 1 and 4 which becomes the target price for line starting from point 5.Even its with manuals its easy to read it.

Hope this helps, else am trading on ma directions mostly.:)
 

Joy22

Member
Well I finally tracked it down.

I have also attached an ebook to assist with anyone who does not understand Elliott Waves.

Looks interresting: Info from the site
* Yes, EWP shows alerts for Buy or Sell.
* Yes, you can use EWPro Indicator on smaller time frames (M1, M5?).
* Yes, works with all currency pairs.
* Yes, EWPro is highly profitable!
* EWPro has 80-90% accurate signals!

Cheers
StaticX
Elliot wave course

joy22
 

Roseli1965

New member
Hi Checkmail

Thanks for your explaination on wolfwaves , i will try it out , more or less
understand based on your explaination ,quite simple and we have very detalis
and precise when plot the waves .

Thanks
Roseli1965



Hello Roselli1965 this is checkmail and you are right elliot seems to be tough to learn as it includes lots of patterns that are nearly not possible to indentify or to remember it.
Even though didn't gave up, but later when inner elliot was exposed than just it was the limit for learning such thing which gives importance to even micro data to such an extent.

So later tried wolfwaves which have simple 4-5 patterns to follow but it also does have few different patterns like elliots but currently only follow bullish and bearish pattern.

Wolfwave consists of automatically drawn 1-5 point lines where another red line is drawn from 1 and 4 which becomes the target price for line starting from point 5.Even its with manuals its easy to read it.

Hope this helps, else am trading on ma directions mostly.:)
 

marcuss

Member
From here:

Elliott Wave Theory is purely a technical analysis of the marketing trend, innovated idea with fundamental analysis interpretation. The theory is concentrated strictly on the price action, and it explores that price is the ultimate nature of all the analysis giving an end or beginning to all the analysis. Apart from these, the theory concludes that there is always an existing relationship and a similarity in the behavior of liquidity, credit and economic robustness that is often used to examine the current marketing price patterns.

In 1930, an accountant named Ralph Nelson Elliott proposed this Wave Theory. The book ?Nature Laws ? The Secret of the Universe? included his hypothesis and all the relevant ideas and definitions in 1946. So, till the time the experts and the analysts are treating it as one of the most powerful methods as pseudo-science and you can also deal with the uncertainties of the existing market. It has been seen that some of the academics disregard it but trading experts like Paul Tudor and Robert Prechter are successful at using this method.

Calculation

It has often been seen some of the marketing trends and the patterns recur in a particular time and this cycling nature of the marketing trend and events with varying frequency, is the principle of the Elliott Wave Theory. It is a relevant hypothesis about the market that the growth phase is quite longer or a recession is exceptionally inhibiting the pattern to such a harsh level. But, it must be accepted that this trading trend will end sooner or later and the existing conditions will be reverted and get into reversal stage.

Elliot Wave Indiactor

The Best Elliott Wave Indicator

Trading with the Elliott Wave

In fact, a price pattern is divided into a number of sub-patterns and the trend that is at the lower levels is mainly considered. There is no denying the fact that the Elliott Wave Theory may be applied over any time frame but it is mostly applied in sense of decades or years.

The above Wave Theory examines and divides the current price action into five main phases:

1. Since a few traders are aware of the emerging potential, the trend of the market remains vague.
2. A small correction is done although it does not bring the existing price below the inception point.
3. Being the strongest and powerful phase, it drives many bystanders into current price action.
4. It is nothing but ensues correcting phase.
5. The final stage is the bubbling phases in which huge capital enters the market with a bullish nature and this stage results in a collapse, giving an end to the trend.

It is really a matter of intuition that where will be the beginning or end of any phase. There are no practically accepted methods and the technique may differ from trader to trader who uses different methods to know the current trend of the market. So, if you are incurring losses and often meeting failures as a trader, there are certain useful methods that will try to accommodate your risk tolerance and mental resilience. Interpretation of the Wave Theory may also differ as each of the traders is different in nature and understanding.

Conclusion

Advantages
One of the most awarding advantages of the Elliott Wave Theory is that it smoothens the price action behavior of the market, keeping the pattern and organization compact. It enhances the precision horizon of the traders, increases their confidence and makes the market pattern hierarchical for better understanding. No doubt, the wave theory gives a great edge over the marketing patterns which are beyond the random behavior of the short-term events pertaining to the market. So, this theory enables you to get a more technical and sophisticated understanding of the marketing trend and trading action without compromising with the implications and the necessities of the market price action.

Disadvantages
The arbitrary nature of the Elliott Wave Theory is the greatest loophole. It is really practically impossible to have two analysts on the same charting pattern of the marketing trend and reach on the same conclusions. But, it is certain to have a more complex price pattern which includes many analysts reaching a common consensus.

This is mainly due to the fluid formulation of the theory and intuitive nature. Even if you are placing the dynamic nature of the market into such a sophisticated Wave Theory, it does not guarantee the analyst to get the correct benefits and he is not sure to explain the price fluctuations in the existing market pattern with the reference to the past data. Also, the market may appear cyclical with no underlying causality that is purely based on the visual analysis and market patterns. So, putting this imaginary information into the Wave Theory may give nothing as a consequence rather it will show you a trend in the result that is far from the realistic behavior of the market dynamics and the future is always a vague.

We can examine this theory in a nutshell as a vital tool to air one?s opinions about the market but you are not sure that the real market will just follow the trends as predicted by the theory. No doubt, you can get the correct entry or exit points into the market but one is only successful when he discards the sense of precision and evaluating the data is based on some powerful strategies that has a unique probability.
 

Roseli1965

New member
Hi Marcuss

Thanks for high value of info , i know is really hard , but i will try , i will post
the question to you for help , is ok with you .


Roseli1965

From here:

Elliott Wave Theory is purely a technical analysis of the marketing trend, innovated idea with fundamental analysis interpretation. The theory is concentrated strictly on the price action, and it explores that price is the ultimate nature of all the analysis giving an end or beginning to all the analysis. Apart from these, the theory concludes that there is always an existing relationship and a similarity in the behavior of liquidity, credit and economic robustness that is often used to examine the current marketing price patterns.

In 1930, an accountant named Ralph Nelson Elliott proposed this Wave Theory. The book ?Nature Laws ? The Secret of the Universe? included his hypothesis and all the relevant ideas and definitions in 1946. So, till the time the experts and the analysts are treating it as one of the most powerful methods as pseudo-science and you can also deal with the uncertainties of the existing market. It has been seen that some of the academics disregard it but trading experts like Paul Tudor and Robert Prechter are successful at using this method.

Calculation

It has often been seen some of the marketing trends and the patterns recur in a particular time and this cycling nature of the marketing trend and events with varying frequency, is the principle of the Elliott Wave Theory. It is a relevant hypothesis about the market that the growth phase is quite longer or a recession is exceptionally inhibiting the pattern to such a harsh level. But, it must be accepted that this trading trend will end sooner or later and the existing conditions will be reverted and get into reversal stage.

Elliot Wave Indiactor

The Best Elliott Wave Indicator

Trading with the Elliott Wave

In fact, a price pattern is divided into a number of sub-patterns and the trend that is at the lower levels is mainly considered. There is no denying the fact that the Elliott Wave Theory may be applied over any time frame but it is mostly applied in sense of decades or years.

The above Wave Theory examines and divides the current price action into five main phases:

1. Since a few traders are aware of the emerging potential, the trend of the market remains vague.
2. A small correction is done although it does not bring the existing price below the inception point.
3. Being the strongest and powerful phase, it drives many bystanders into current price action.
4. It is nothing but ensues correcting phase.
5. The final stage is the bubbling phases in which huge capital enters the market with a bullish nature and this stage results in a collapse, giving an end to the trend.

It is really a matter of intuition that where will be the beginning or end of any phase. There are no practically accepted methods and the technique may differ from trader to trader who uses different methods to know the current trend of the market. So, if you are incurring losses and often meeting failures as a trader, there are certain useful methods that will try to accommodate your risk tolerance and mental resilience. Interpretation of the Wave Theory may also differ as each of the traders is different in nature and understanding.

Conclusion

Advantages
One of the most awarding advantages of the Elliott Wave Theory is that it smoothens the price action behavior of the market, keeping the pattern and organization compact. It enhances the precision horizon of the traders, increases their confidence and makes the market pattern hierarchical for better understanding. No doubt, the wave theory gives a great edge over the marketing patterns which are beyond the random behavior of the short-term events pertaining to the market. So, this theory enables you to get a more technical and sophisticated understanding of the marketing trend and trading action without compromising with the implications and the necessities of the market price action.

Disadvantages
The arbitrary nature of the Elliott Wave Theory is the greatest loophole. It is really practically impossible to have two analysts on the same charting pattern of the marketing trend and reach on the same conclusions. But, it is certain to have a more complex price pattern which includes many analysts reaching a common consensus.

This is mainly due to the fluid formulation of the theory and intuitive nature. Even if you are placing the dynamic nature of the market into such a sophisticated Wave Theory, it does not guarantee the analyst to get the correct benefits and he is not sure to explain the price fluctuations in the existing market pattern with the reference to the past data. Also, the market may appear cyclical with no underlying causality that is purely based on the visual analysis and market patterns. So, putting this imaginary information into the Wave Theory may give nothing as a consequence rather it will show you a trend in the result that is far from the realistic behavior of the market dynamics and the future is always a vague.

We can examine this theory in a nutshell as a vital tool to air one?s opinions about the market but you are not sure that the real market will just follow the trends as predicted by the theory. No doubt, you can get the correct entry or exit points into the market but one is only successful when he discards the sense of precision and evaluating the data is based on some powerful strategies that has a unique probability.
 
To be honest i only have a limited knowledge about EW i never realy look into "systems" which require such a massive amount of doubtful interpretion. I think there are doomed to fail and only serve cult leaders ("trading gurus") ... Anyway on the other hand, why not give it try if its free ?

So i read this pdf and downloaded this EWPro indicator , unfortunately i can?t test it in real time now , but judging to already given signals on historical charts and assuming that it doesn?t repaint (i strongly guess that it does) then it at least gives signals into the right overall direction , but the suggested profit targets are highly insane :) and the draw-down on the way to a target can be massive i would say even more then it is the case with CoG based strategies.
Also i have no idea how to determine a sane stop loss for this strategie

My question is , if anyone tried this indicator in forward testing so far , and has any idea about setting a s/L for this ?

Ohh and thanks for sharing the indicator and PDF

Gr?ße
 
.

.

As i said i dont know much about EW except the basics , but i have found something interesting for the germans or german speaking people around here

http://web.archive.org/web/20040803215827/www.prognosis.de/principle/index.html#general
 

visualxl

Member
Well I finally tracked it down.

I have also attached an ebook to assist with anyone who does not understand Elliott Waves.

Looks interresting: Info from the site
* Yes, EWP shows alerts for Buy or Sell.
* Yes, you can use EWPro Indicator on smaller time frames (M1, M5?).
* Yes, works with all currency pairs.
* Yes, EWPro is highly profitable!
* EWPro has 80-90% accurate signals!

Cheers
StaticX
Thanks for the indicator that you have shared. I would like to know whether do you also have the manual for this indicator? as in when to enter? How to set the SL? :)
 

yano125

New member
I just tested EWPro on my MT4.

I do get the ABCDE and the 12345 labels on the chart.

However, the labelling does not seem to follow the EW way of labelling correct waves.

This could confuse newbies to EW principles. I am no expert at EW but I think the labellings I get from EWPro on my chart do not follow the basic rules of identifying waves.

Feel free to delete this message if you think it is inappropriate.
 
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