Is there anyone here with an understanding of Elliot Waves who could...

[Forex Trader]

... create an Elliot Wave Indicator which would "identify" and "number" the Elliot Waves directly on the MT-4 Charts? If any members or MetaQuotes Staff can do this, or if anyone knows of someone else who would be able do this, please post here or drop me an email. Thanks in advance.

Chris
[e-mail]

[Forex Trader]

You can find it in the big indicators file in http://finance.groups.yahoo.com/group/MetaTrader_Experts_and_Indicators

[Forex Trader]

I forget the strategy name at the moment but I'm banking on you wanting the indicators for Elliot Wave Trend, Oscillator, and Number ?

You'll find only the oscillator has been done in MT code and I believe there's a bit of chatter around that the FXCM indicators are flaky and no-one seems to have a formula for one of them - hence the difficulty in coding it for MT.

Though if I'm mistaken in the above, forget I said any of it :)

Martin

[Forex Trader]

Wolf and Martin:

I appreciate your replies.

Actually, I already have the EW Oscillator. What I am looking for is an indicator/expert that can identify and number the waves directly on the MT-4 Charts (See link to chart example below). I'm hoping someone here might be able to do it or at least know someone who can. I would be willing to pay for their time. Hopefully someone will come along who can help.

Thanks to both of you guys.

Regards,

Chris

http://www.solisearch.net/ims/pic.php?u=26471vMC4B&i=170515

[Forex Trader]

Wow - that would be a cool addition!

Hmmm. I remember reading about the lack of a formula for EWN on another forum. I found it somewhere, but didn't copy it down - let me look through my files and see if I can find it...

[Forex Trader]

I think this is it!

There is a statement in #2 below. "where f is logical expression" I am not sure what this function is. If you contact fxcm, they should be able to tell you.

1. Elliot Wave oscillator (EWO)
Parameters: hasn't parameter.
Calculation: EWO (i) = MVA((high + low) / 2, 5) - MVA((high + low) / 2, 35).


2. Elliot Wave trend (EWTREND)
Parameters: N – number of periods, TR – trigger.
Calculation: EWTREND (i) = f (last(i), high(i), low(i), TR), where f is logical expression,
high(i) = max (last(j)), low(i) = min (last(j)), j = [i – N, i],
last(j) = MVA((high + low) / 2, 5) - MVA((high + low) / 2, 35).


3. Elliot Wave number (EWN)
Parameters: N – number of periods, TR – trigger.
Calculation: EWN (i) = f (last(i), high(i), low(i), TR), where f is logical expression,
high(i) = max (last(j)), low(i) = min (last(j)), j = [i – N, i],
last(j) = MVA((high + low) / 2, 5) - MVA((high + low) / 2, 35). 

Source: http://www.trade2win.com/boards/showthread.php?t=11590&page=36&pp=10

Now if someone with some coding background can turn this into indicators...

Erik

[Forex Trader]

I went down this path a month or so ago.

The answer I rec'd was this :-

you posted only a pseudo-code. there's nothing really useful to
determine the algorithm of calculations.

while 1st is just a kind of MACD, 2 other's have no real code and thus
impossible to implement.

The indicators seem to be also unreliable on the Marketscope platform which is highlighted in the posted thread above at the Trade2win website. Good luck if you can find someone to work out how they function and code them up - looks like an interesting strategy.

Cheers
Martin