Indicators: Elliott Wave Oscillator - page 2
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It is not my goal to bash your work or disrespect your effort. Sorry when there is a misunderstanding.
I'm fully aware that your indicator can be parametrized much better than AO (which has no parameters at all). But with that possibilities there must be an understanding when and why to use the parameters. You are the creator and mind behind it, so was my question to explain a little bit how your baby can be used more effective than AO to count elliot waves. I guess i'm not the only one to learn from your experience.
No problem my friend,
I will try to prepare some explanation or an article in near future.
Sincerely,
Hossein Nouri
How on earth can you call this an elliott wave oscillator. This has absolutely nothing to do with elliott wave theory. In fact it is an absolute disgrace to call it that. R.N. Elliott would turn over in his grave if he saw this.
Counting impulsive wave structures requires the use of fractal wave building from monthly down to minute 1 based on Fibonacci expansion and Fibonacci retracements - thats it and thats all. It is not just swing highs or low or even worse basing/finding a 1,2,3,4,5 impulsive wave structure by an oscillator :|. Absolute joke.
On top of that you have input in parameters to change the sensitivity of the oscillator which again totally blows my mind how on earth you could think that finding impulsive or corrective waves could be based on something so relative to its inputs.
Perhaps this idea was introduced to you by bill williams. Yes a well known trader, but one that teaches/practices an absolutely butchered way of elliott wave trading. No oscillator or indicator will tell you what waves are what.
That's great that you have spent the time to give people a free indicator, but lets not call it what it is not.
Cheers.
How on earth can you call this an elliott wave oscillator. This has absolutely nothing to do with elliott wave theory. In fact it is an absolute disgrace to call it that. R.N. Elliott would turn over in his grave if he saw this.
Counting impulsive wave structures requires the use of fractal wave building from monthly down to minute 1 based on Fibonacci expansion and Fibonacci retracements - thats it and thats all. It is not just swing highs or low or even worse basing/finding a 1,2,3,4,5 impulsive wave structure by an oscillator :|. Absolute joke.
On top of that you have input in parameters to change the sensitivity of the oscillator which again totally blows my mind how on earth you could think that finding impulsive or corrective waves could be based on something so relative to its inputs.
Perhaps this idea was introduced to you by bill williams. Yes a well known trader, but one that teaches/practices an absolutely butchered way of elliott wave trading. No oscillator or indicator will tell you what waves are what.
That's great that you have spent the time to give people a free indicator, but lets not call it what it is not.
Cheers.
First of all it's just a name, and as I remember there was an article with this indicator with exact name of "Elliott Wave Oscillator" then I decide to make that from scratch to share it on mql5 with the source code cause I find that interesting.
After that as I've written in description it just help you to find them(specially 3rd wave) not identifying them,
I will find that article and share it here.
Also there are a lot of articles and indicators that someone finds helpfull the other one finds a Joke!
By the way thank you for your comment.
Sincerely,
Hossein Nouri
good indicator for me,,good job
Hi, thanks for the contribution.
I am not sure if that is the way it would behave but your screenshot seems slightly different from mine. On your screenshot some numbers, the elliot waves numbers, are depicted but after I compile the source and install on a chart the numbers are not displayed.
Hi, thanks for the contribution.
I am not sure if that is the way it would behave but your screenshot seems slightly different from mine. On your screenshot some numbers, the elliot waves numbers, are depicted but after I compile the source and install on a chart the numbers are not displayed.
You're welcome,
As I have written in details it just helps you to count elliott waves (manually).
Sincerely,
Hossein Nouri
My friend thats your opinion and I respect that, but you should know that this is a free indicator, so some respect to my time and effort would be nice too,
"Standard AO" is like a moving average with fixed period and color, using that is effective but clearly a customizable version like this one would be much more effective, so an old indicator with some changes can be much more effective.
Take a look at the screenshot, it's a compare between AO and 2 different versions of EWO, I'm sure you can notice changing of the trend direction much more better in customized version,
by the way thank you for sharing your thoughts.
Sincerely,
Hossein Nouri
Alerts for when trend is declining, alerts for trend changing, etc?
Hi Hossein, Thank you for your indicator, is it possible to add alerts?
Alerts for when trend is declining, alerts for trend changing, etc?
Hi,
No problem.
Sure, I'l consider that for the next version.
Regards,
Hossein
Hi,
No problem.
Sure, I'l consider that for the next version.
Regards,
Hossein
Thanks Hossein,
One more question, does it repaint? I did not really record but I think few candles back repainting or maybe not?