Elliott Wave

  • This topic has 4 replies, 3 voices, and was last updated 1 year ago by Piers.
Viewing 5 posts - 1 through 5 (of 5 total)
  • Author
    Posts
  • #58077
    Richard
    • Topics: 1
    • Replies: 2
    • Posts: 3

    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.

    #58085
    Darren
    • Topics: 69
    • Replies: 742
    • Posts: 811

    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?

    https://www.optuma.com/want-to-know-a-better-way-to-determine-trend/

    #58133
    Richard
    • Topics: 1
    • Replies: 2
    • Posts: 3

    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.

    Thanks

     

    1 user thanked author for this post.
    #58161
    Richard
    • Topics: 1
    • Replies: 2
    • Posts: 3

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

    #58167
    Piers
    • Topics: 4
    • Replies: 25
    • Posts: 29

    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.

    1 user thanked author for this post.
Viewing 5 posts - 1 through 5 (of 5 total)
  • You must be logged in to reply to this topic.

Pin It on Pinterest