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Elliot Wave Oscillator for Amibroker (AFL)

Rating:
3 / 5 (Votes 20)
Tags:
oscillator, amibroker

ELLIOT WAVE OSCILLATORCHART – 2

Screenshots

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Indicator / Formula

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/// PROGRAMME MODIFIED BY PRASAD RAO FOR MASTER PLOTTER ///

_SECTION_BEGIN("BACK COLR");
_SECTION_BEGIN("PRASAD SYSTEMS");
Param("DEDICATED TO MY FATHER",5);
_SECTION_END();
 

SetChartBkColor( ParamColor("Chart Color", colorBlack));



_SECTION_BEGIN("BACKGROUD LTRS");
SetChartOptions(0,chartShowArrows|chartShowDates);
GfxSetOverlayMode(1);

GfxSetTextAlign( 6 );// center alignment
GfxSetTextColor( ParamColor("Text Color", ColorHSB( 42, 42, 42 ) ));
GfxSetBkMode(0); // transparent



GfxSelectFont("Tahoma", Status("pxheight")/12);
GfxTextOut( "PRASAD ANALYTICS ©", Status("pxwidth")/2, Status("pxheight")/14);

GfxSelectFont("Tahoma", Status("pxheight")/9 );
GfxTextOut( Name(), Status("pxwidth")/2, Status("pxheight")/4.1 );


GfxSelectFont("arial narrow", Status("pxheight")/27 );
GfxTextOut( "Dedicated to MY FATHER : BALKRISHNA RAO", Status("pxwidth")/2, Status("pxheight")/1.15);
_SECTION_END();
 



_SECTION_BEGIN("MACD Plotter ver 3");

/**********************************************************
 /MACD Cross
***********************************************************/ 



StartBar=SelectedValue(BarIndex());
FinishBar = EndValue( BarIndex() );
i = Startbar;




EWODAILY =  EMA(C,5) - EMA(C,34);

SIG =  EMA(EWODAILY,5);

GfxSelectFont("Tahoma", 11, 700 ); 

todayEWODAILY    = EWODAILY  ; 
onedaybackEWODAILY    =Ref(EWODAILY  ,-1);
twodaybackEWODAILY   =  Ref(EWODAILY  ,-2)  ;

if( (todayEWODAILY   [i] > onedaybackEWODAILY   [i])   AND (onedaybackEWODAILY   [i] <= twodaybackEWODAILY  [i]))
{
GfxSetTextColor(ColorRGB(186,236,94)); 
GfxTextOut("New Trend Up",400,1);
}
if( (todayEWODAILY   [i] < onedaybackEWODAILY  [i])   AND (onedaybackEWODAILY   [i] >= twodaybackEWODAILY  [i]) )
{
GfxSetTextColor(colorRed); 
GfxTextOut("New Trend Dn",400,1);
}

if((todayEWODAILY   [i] > onedaybackEWODAILY  [i])   AND (onedaybackEWODAILY   [i] >= twodaybackEWODAILY   [i])
)
{
GfxSetTextColor(ColorRGB(221,248,112)); 
GfxTextOut("Trend Up",400,1);
}

if( (todayEWODAILY   [i]< onedaybackEWODAILY  [i])   AND (onedaybackEWODAILY   [i] <= twodaybackEWODAILY   [i])
                       )
{
GfxSetTextColor(ColorRGB(248,113,113)); 
GfxTextOut("Trend Dn",400,1);
}



EWODAILY_ZEROCRUP = Cross(EWODAILY ,0);
EWODAILY_ZEROCRDN = Cross(0,EWODAILY );


if(EWODAILY_ZEROCRUP[I])
{
GfxSetTextColor(ColorRGB(221,248,112)); 
GfxTextOut("Zero Cross Up",550,1);
}


if(EWODAILY_ZEROCRDN[I])
{
GfxSetTextColor(ColorRGB(248,113,113)); 
GfxTextOut("Zero Cross Dn",550,1);
}



mycolor=IIf(EWODAILY <0 ,ColorRGB(275,175,255),IIf(EWODAILY >0 ,ColorRGB(151,220,150),colorWhite));

Plot(EWODAILY , "EWODAILY ", mycolor, styleHistogram | styleThick| styleNoLabel, styleOwnScale);



 
Plot(SIG ,"",colorRed,styleLine|styleThick);





/****************************************************
                   CHART TITLES
****************************************************/

 
/****************************************************
                   CHART TITLES
****************************************************/


GfxSetTextAlign( TA_left = 0);
GfxSelectFont("Tahoma", 11, 700 ); 
GfxSetTextColor(ColorRGB(209,191,255)); 
GfxTextOut("PRASAD ANALYTICS - EWO ",07, 0); 





GfxSetTextAlign( TA_LEFT = 0 );
GfxSelectFont("Tahoma", 11, 700 ); 
GfxSetTextColor(ColorRGB(255,180,61)); 
GfxTextOut(Name()+ "   " + Date(),07,20); 





 


Title =

"\n";
 
 
 
  

_SECTION_END();

12 comments

1. mallu

hi ur shown indicator is different and ur updated only macd part

2. kitika

hello sir,
plz share complete formula as above shown u have share only macd
plz share holy gail formula also……looking usefull and effective.my ranking 5

3. shaileshbpatel

Please, share ur all indicators…
Really nice formula..

4. ddominic

thanx for sharing this afl …. rated 4/5

5. Kabir

It will be helpful for us if can plz share the entire afl……

Regards
Kabir

6. Divyesh

http://www.wisestocktrader.com/indicators/2885-holy-grail

this is Prasad Rao’s Original Holy Grail Formula posted at wisestocktreades.com

7. kv_maligi

Very Good & thanks for sharing

viswanath

8. prasadbrao

_As posted by Mr. Divyesh this – http://www.wisestocktrader.com/indicators/2885-holy-grail was the beginning of HOLY GRAIL.

But due to many criticisms received for it I do not post ne HOLY GRAILS. It is a hard work I have put in since 3 years developing and testing it each single day. I do not wish to share it with sadists who name it as bull shit and fooly grail.

I am sorry but plz dont ask me to share the HOLY GRAIL.

Regards,

Prasad Rao._

9. buchacek

It’s a good oscillator but why is it called Elliot wave oscillator?

10. prasadbrao

DEar buchacek

The Elliott Wave Oscillator is essentially a MACD Histogram or more precisely a 34-period simple moving average subtracted from a 5-period simple moving average.

It can be applied in all timeframes and works very well with the Triple Trend approach of using three time frames: the long-term, the medium-term and short-term.

The key is to ensure you use between 100 and 150 bars, with 120 bars generally providing the most consistent results.

This oscillator produces a strong correlation with patterns of the Elliot wave. The key take away when using the EWO is that the strongest readings will show you where the 3rd wave lands on the chart. The EWO will work in all time frames but it is recommended you have a large enough sample of price for the oscillator to work effectively.

For more details of wave counts and using this indicator plz visit this page

http://www.dailyfx.com/forex/education/trading_tips/daily_trading_lesson/2012/12/05/Learn_Forex_Using_the_Elliot_Wave_Oscillator_to_Predict_Forex_Moves.html

Regards,

Prasad Rao

11. buchacek

Prasad- thanks for the link. Even though I don’t use Elliot waves but the Dilernia model I found your oscillator useful.
Thanks for posting it as it is another conformation in my trading strategies.

12. vishnaha

DEAR PRASAD

PLEASE PROVIDE ME THIS AFL OR IF CANT POST HERE THEN CAN YOU PLEASE SENT IT ME TO MY MAIL ??

I ENSURE YOU TO THAT I WILL NOT POST IT WITHOUT YOUR PERMISSION. I AM A TRADER AND WANT TO LEARN MORE

MY MAIL ID IS VISHNAHA@IN.COM

IF ADMIN HAVE NO OBJECTIONS

THANKS REGARDS

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