Wave 4 indication

[Bettina]

Hi Steve,

I never watched the W4 numbers on the Chart very carefully, but now I wanted to care for them more intensively, because I still have problems with w4.
Doing so, I don't understand any longer the logic of the black w4 button.
I thought it would appear, when the retracement is at least 40% of the length of w3 ( if Option 0.4 ). But it does something else and the w4 validator has no influence. Mostly they appear immediately after W3, but not always ( see third pic ).
Or is it 40% of AO movement ?

Or does it appear, if the retracement is not yet 40% ? What happens then, when 40% is reached ?

Please please explain me that.
And is it possible that the numbers on Chart have a refresh Problem ? The second pic is after refreshing

thanks a lot
Bettina

[snorm]

Guten Tag Bettina

"Some believe that a Wave 4 (on histogram) is invalid if it’s more than 40% of the Wave 3
maximum value. Where this is the case, a black 4 will be displayed on the histogram rather than the default white. "

So the 4 on the chart, as opposed to histogram, shows a possible Wave 4, in process. It goes red or green when the 5 is formed ... if I remember rightly (been a while since I looked at the code).

There shouldn't be a refresh problem - have you broken it?

Feel free to Skype me to discuss further, if you wish ...

All the best
Steve

[Bettina]

Guten Morgen Steve,

thanks for your reply.
So first the Chart/Price : That means that the black 4 is nothing else than that we have seen a 3 and a green/red 4 is not different from seing a five, right ? No additional Information ?

AO : 40 % retracement or 40 % at the oppsosite side of w3.
Example : Let the w3 value be +0.15, will the w4 become black at +0.9 or at -0.6 ?
Is the assumption that it then is a trend change rather than a correction ?

Yes, I will skype you for further questions.
Have a nice wekkend 1
Bettina

[snorm]

Guten Morgen Steve,

thanks for your reply.
So first the Chart/Price : That means that the black 4 is nothing else than that we have seen a 3 and a green/red 4 is not different from seing a five, right ? No additional Information ?

AO : 40 % retracement or 40 % at the oppsosite side of w3.
Example : Let the w3 value be +0.15, will the w4 become black at +0.9 or at -0.6 ?
Is the assumption that it then is a trend change rather than a correction ?

Yes, I will skype you for further questions.
Have a nice wekkend 1
Bettina

Hi Bettina

yeah that's pretty much it.
The black 4 on the chart is: we've had a W3 and any pull-back could be the start of a W4.
Black 4 on histogram is: the absolute value of AO exceeds 40% of the W3 to the other side of the zero line - it could indeed be a trend change, as you say; MathAbs(-0.6)/0.15, to use your example.

Have a pip-filled week
Steve