How To Predict The Weekly Candle Using Elman Neural Network?

Neural Networks is a fascinating subject.

But I don't believe these Neural Networks can compete with the biological neural networks like those in our brain.

I have written a post on my blog where I explain how you can predict the weekly candle using Elman Neural Network.

Elman Neural Network is a recurrent neural network which means the output is fed into the input as a feedback loop.

This introduces serial correlation in the model.

I have used RSNNS R package. This package has a number of useful algorithms that include Elman as well as Jordan Neural Networks.

However the model takes more than 30 minutes to do the calculations.

This means you can only use this model to predict the weekly or the daily candle.

If you can predict the weekly candle. you can use that information in swing trading.