Elliott Wave

Hi. I had some suggestions on Elliott Wave tools which hopefully could be added to the great program Optuma.

First tool is the Fibonacci Spiral tool. I think this would be a great addition in projecting price action support/resistance levels.

Second tool would include a line chart swing overlaid on the stock chart which can be moved/manipulated to project price action. The overlay would have the wave points labeled with each section able to be adjusted at the desired level.

Hope that makes sense.

Hi Richard,

The Fibonacci Spiral tool is already available: https://help.optuma.com/kb/faq.php?id=355

Regarding the swings, how would they work? Do you have an example? Have you see the Volatility Swings based on ATR moves?


Hi Darren thanks for the response! And I didn’t realise the fib spiral was already in OPTUMA that’s great!

As for the wave chart overlay something like drawing future price movements with each peak/trough pre labelled & selected based on what part of the wave structure your in. So the user would draw the best fit manually for past/current/future price movements. The line chart could then be moved around manually to whatever point necessary.

Also just an idea instead of a manual addition as just described, what if a particular part of the stock chart were to be selected via a rectangle tool, then that area is scanned for a “best fit” Elliott wave sequence including any ABC structures. From there the overlay can be moved around/renamed etc.

I know Elliott wave is subjective although just thought a few additions on this concept would be good.

Hope that gives a clearer picture of the idea with relevant photos attached.



Hi Where is the Fib spiral tool? I don’t seem to have it listed under Fib tools…

I have 10 tools, including the spiral (FS), listed under the Fibonacci section as opposed to the 6 you have so it might be that you need a different edition Optuma to have the larger list.