Discussion of article "Wolfe Waves" - page 2
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When determining t6, this bar may fall on the weekend, then the calculation will be incorrect.
It is possible to use Fibo time grid, but it seems to be impossible to interact with the obtained data there....
Is there any method to determine t6 bar-by-bar in the future?
Why would the calculation be wrong? There are no bars on the weekend. You want to sort of draw bars on the weekend, and suddenly get a target somewhere around lunchtime on Sunday. How can the target be reached at lunchtime on Sunday if nobody does anything on Sunday, the price doesn't change, there aren't even any bars?
There's a lot of work to be done.
Let's just talk about a little bit to start with - a couple of points that need tweaking.
I apologise, I wrote incorrectly, I wanted to identify the date of formation of t6,
the bar will be known, for example -10. Accordingly, the date can float because of the weekend, but the date is revealed only by tracking the point6 at the moment when the bar t6 will be equal to 0.
I apologise, I wrote incorrectly, I wanted to identify the date of formation of t6,
the bar will be known, for example -10. Accordingly, the date can float because of the weekend, but the date is revealed only by tracking the point6 at the moment when the bar t6 will be equal to 0.
I see what you mean. There will be a mess with the display of graphical objects, but it will not affect the calculation of the target. It will be ugly when a new week starts, the picture will shrink. It would be good to update the plotting drawing until the target is gone from the future to history. But I didn't think about it. In general, the thought was there, but vague and I didn't pay attention to it. It is possible to simply switch off drawing of constructions, they are needed only at the initial stage for general understanding.
Dmitry, you have done a great job, it is very interesting, but only within the framework of traditional analysis.
The fact is that Wolf waves as an analytical tool has a number of serious drawbacks, namely:
1.Essentially we are dealing with two triangles - one tapering, the other expanding.
2.This construction cannot be correct for analysis, because the point of intersection can be
at a significant distance in time from the Wolfe construction (greater than the specified construction),
which calls into question the relevance of this type of forecast. After all, anything can happen during this time,
for example, a market crash, and the forecast will turn out to be false. So we need additional confirmatory analysis
of the current dynamics.
Besides, the use of traditional indicators (even if modified) for forecasting is also questionable, as the algorithm of such indicators (albeit modified) is not reliable.
causes doubts, as the algorithms of such indicators cannot correctly analyse the market dynamics (as the price chart is a chart of prices - it is a graph).
of the market (as the price chart is a process where not only the amplitude, but also the frequency is constantly changing).
But all traditional indicators do not have an algorithm analysing such a parameter as constantly changing frequency.
constantly changing frequency.
Despite this, we should thank the author for his interesting work and creative approach. Thank you, Dmitry.
Excellent article, very didactic.
On the other hand, I can not run the expert advisor "eWolfeWave.ex5", it seems to load without errors, but does not open operations.
Very interesting, but i tried to use the recommended indicators and the EA and some indi doesnt work (cannot load custom indicator)
very good job
but who can I used in MT4 ?
New article Wolfe Waves has been published:
Author: Dmitry Fedoseev