You need both the Basic and Automatic module to run the Trading
Signals & Target Clusters.
The Summary inspector displays concise information
on multiple timeframes, enabling you to spot trading
opportunities in an instant
Among other things, the Summary inspector shows
the Trend, the EASI (Positive, Negative, Neutral) the
Exit level, the expected Reward as well as the Risk
Reward on several time frames. If for example 3 consecutive
time frames show a clear Positive, get ready for an
acceleration of the up trend!
In view of the information on multiple time frames,
signals for patterns in patterns are supported.
The Trading Signals window presents trading
signals for all patterns found. You will have to display
the Wave tree first by selecting TYPICAL LAYOUT from
the Analysis menu. Next double click on a wave button
to see the wave signals of that wave.
Trading opportunities are indicated in the Trading
Signals window depending on the progress of a pattern,
each pattern will indicate specific expected entry and
exit levels, which are different for every wave of the
At the same time and according to the same method,
expected stops are indicated for waves in every pattern
in the Trading Signals window
The Alert inspector will warn you as soon as
critical levels are broken and, if necessary, it will
update the analysis automatically
The Alert inspector lists the signals that have
been detected during checking of trading signals
Details on triggered trading signals, such as which
wave and which rule, can be inspected by expanding the
Alert inspector window
If a real-time feed has been enabled, ELWAVE will automatically
check the incoming ticks and update the analysis if
critical levels are broken.
|A powerful simulation feature enables
you to truncate price data, make an analysis at any point
in time and add data to the chart step by step (not in
The Target Zones combine Fibonacci time and
price targets in combination with wave count alternatives
to project an expected path for future price movements.
In addition hot spots are visualized in the chart,
which show high probability target zones where prices
are expected to travel to or to meet resistance.
ELWAVE projects Target Zones for multiple time frames.
As you can see there are two Target paths projected
and each time this stock finds support at the projected
resistance zones. (Note: The greyed out data is not
part of the analysis, it shows the actual movement of
the stock after the analysis was made.)
The Time Clusters indicator projects sensitive
time periods where important reversals are more likely.
The more clusters near a specific date, the better the
chances that the market will reverse from a top or bottom
or at least meets important resistance. These time clusters
can be based on the patterns found by the automatic
Elliott analysis or on a user-defined swing filter using
Fibonacci ratios. It is an interesting research tool
for determining at what point in time important changes
Use the Time Clusters indicator to look for possible
turning points in time.