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elliott wave one and two exploration for Amibroker (AFL)

Rating:
3 / 5 (Votes 2)
Tags:
trading system, amibroker, fractal

I have been identifying elliott wave one and two by this method and 90 percent of time i am successful in identifying wave one and two easily . But i fail to understand why this AFL is giving false results ,too . Can anybody help me improve it .

thanks

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Indicator / Formula

Copy & Paste Friendly
MedianPrice = (H+L)/2;

Jaw     = Wilders(MedianPrice,13);



//Fractal up
//----------
fUp = (Ref(H,-2) > Ref(H, -4)) AND
  (Ref(H,-2) > Ref(H, -3)) AND
  (Ref(H,-2) > Ref(H, -1)) AND
  (Ref(H,-2) > H);
var1=ValueWhen(fUp ,Ref(H,-2) ,1); 
FractalUp=HighestSince(var1 > 0, var1, 1);
Plot(FractalUp, "F+",colorWhite , styleLine | styleDots);

FUpBuyPrice = FractalUp + 0.01;
FUpHit = FUpBuyPrice <= H AND FUpBuyPrice >= L;
FUpSignalOn = Flip(Ref(FractalUp,-1) != FractalUp, FUpHit);



//Fractal Down
//------------
var2= 
	(Ref(L,-2) <= Ref(L, -1)) AND
	(Ref(L,-2) <= Ref(L, 0)) AND
	(Ref(L,-2) <= Ref(L, -3)) AND
	(Ref(L,-2) <= Ref(L, -4));
FractalDown=ValueWhen(var2, Ref(L,-2), 1);

FDownSellPrice= FractalDown+ 0.01;
FDownHit = FDownSellPrice <= H AND FDownSellPrice >= L;
FDownSignalOn = Flip(Ref(FractalDown,-1) != FractalDown, FDownHit );

Plot(FractalDown, "F-", colorWhite, styleLine | styleDots);



f1 = FractalDown < Jaw;
f2 = FractalUp >Jaw;
f3 = Ref(FractalDown,-1) < Jaw AND Ref ( fractalDown ,-1 )<FractalDown ;

Buy = f1 AND f2 AND f3 ;

f4 = FractalUp >Jaw;
f5 =FractalDown<Jaw;
f6 = Ref(FractalUp,-1) > Jaw  AND Ref ( fractalUp ,-1) > FractalUp;

Sell = f4 AND f5 AND f6 ;

5 comments

1. imaxhighsky

thanks for the share but it only plots a channel, how to know where are the elliot waves 1 & 2 ?

2. tsarvjit
It is only meant for scanning .
3. solo_vijay

Hi,

Could you please share your idea on how to identify wave 1&2?

Best,
Solo

4. tsarvjit
This is derived from Chaos theory . I have observed that wave one and two fractals form around blue line of alligator or 13 period wilders average .If trend is up , then wave one crosses up the blue line and ends in a fractal above the blue line . Then wave two sets in and crosses down the blue line and ends in a fractal below blue line . This down fractal thus formed is higher than the last down fractal .

I think that is clear .

5. StockJock

Have you tried using this Chaos theory concept to label all the Elliot Waves on a price chart? This appear to detect bearish impulse waves. Could you include code for bullish impulse waves too?

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