Elliott Wave Counter Indicator...

[petitbout]

Hello,
I just applied this wonderful indicator to my chart and have a few questions:

Right after I included this indicator in my indicator list the wave count showed...and then disappeared! This happened on both the 5M and 1M chart...
Where'd they go and how do I get them back???
The fib time extensions are not displaying (show FibTimeZone is set to true)
Why is it giving me Fib Price Target Zones for W5 up and down?

Thank you!

[petitbout]

Got my wave count back by deleting the AIMS A/O I had in the subwindow indicator box and THEN loading the SnormWaves...
Am still wondering about the FIB Time extensions and why the two price target extensions (one for long and one for short) for W5...

Thanks for your help, your time and this indicator Steve. I've been reading some books about waves and fibs (Robert Miner, Carolyn Broden and Steve Poser), and while I understand what I'm reading, when I look at the charts I'm just lost at sea. I just can't believe that you've actually succeeded in programming this but I'm really grateful. Not only does it make things easier I'm sure it will be a great confidence booster as well. And thank you for making it so affordable!!!

Bernadette

[immy]

Note: If you do not know what is The Fib Time Extension and/or do not understand the concept and logic behind it, Please do not use them until and unless you know the logic behind it, hence why the settings are turned to false by default.

Cheers

Immy

[immy]

I might as well kill the curiosity and add another note.

The Fib Time Extension is a study of Fib Extensions on the horizontal x axis. Since we plot time periods on the X-Axis, it is believed that the 5th wave may start after the 4th wave has spent at least 70% of the time it took to create Wave 3. e.g. If it took 100 bars to create a Wave 3, you may see at least 70 bars of Wave 4 before a possible Wave 5 may begin. Remember that as long as price stays below/above the price level where Wave 3 had peaked, it is considered to be still in Wave 4. But if the time limit has passed then one can try and take a setup in teh direction of the wave 3. Point to note is that "We do not trade Elliott Wave, EW is an opinion it is there to give us confidence, when we trade we trade the Setup and Only the Setup, because trading the Setup helps us 'Stay In-The-Now' "

Kind Regards

[snorm]

Got my wave count back by deleting the AIMS A/O I had in the subwindow indicator box and THEN loading the SnormWaves...
Am still wondering about the FIB Time extensions and why the two price target extensions (one for long and one for short) for W5...

Thanks for your help, your time and this indicator Steve. I've been reading some books about waves and fibs (Robert Miner, Carolyn Broden and Steve Poser), and while I understand what I'm reading, when I look at the charts I'm just lost at sea. I just can't believe that you've actually succeeded in programming this but I'm really grateful. Not only does it make things easier I'm sure it will be a great confidence booster as well. And thank you for making it so affordable!!!

Bernadette

You're very very welcome Bernadette. As per our email exchange, this fix was posted here: http://www.itradeaims.net/forum/viewtop ... t=45#p4969" onclick="window.open(this.href);return false;


Immy's explanation of the Fib Time Zones is excellent - nothing more I can add on that subject ... :-B

All the best
Steve

[petitbout]

So, Immy, for the Fib time extensions are you saying they are 'off the chart'?
Is Steve's indicator programmed for the 61.8 extension only or does it show some of the other smaller time frames? I changed the value to 'true' to see the time extensions but still not showing...
I looked for them as a tool in the Alpari platform a while ago and just found the price retracements and extensions which I've been using. Can you tell me where the time fib tools are?
Thanks so much!

[petitbout]

Need to rephrase question in previous post regarding the fib time extensions...
I did find a tool for 'fib time zones' which uses fib numbers as opposed to percentages...
Can you explain pls?
Thank you!

[snorm]

Need to rephrase question in previous post regarding the fib time extensions...
I did find a tool for 'fib time zones' which uses fib numbers as opposed to percentages...
Can you explain pls?
Thank you!

Hi Bernadette - the FibTimeZones use the default MT4 settings except the second line, which you can set in the options: default is 1.7 but I'm testing 1.618. It's function, in the indicator, is to forecast the 5th wave but if you're looking for something else, I'd recommend switching TimeZones off in the indicator options and using the manual option.

Does that answer your question ? :-B

cheers
Steve

[petitbout]

Thanks Steve,

Can you explain what the other lines represent?

[immy]

Hi

Could everyone please bring their focus to "How to Count Elliott Wave using eWave" and stop focusing on the FIB Expansion and Time Zones. I do not use Time Zones, never used it, but the concept is something worth looking, hence I asked Steve to keep that off as default. Fib Exp one is better, if use, can give good idea about exit zones, but then again, is that part of your exit strategy or not depends on your trading plan. The bar counts was useful while we were beta testing it, I do not use it anymore, so please focus on the more important stuff which the numbers on the EW histogram. that is the whole purpose of this indy.

I hope I have not offended anyone but these are my thoughts/opinion.

Most Kind Regards

Immy