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Dimitris,
Thank you VERY much for your insightful and solution-oriented
response! In my view, you described the solution 'key' to focus
upon: "If you describe what you do manually, then it may be coded in
AFL.", ASSUMING that AFL contains all 'functions' that would be
necessary to implement the manual-process description.
I should have been a bit more specific in my description of what I am
seeking. I really only care about the MAJOR wave counts: 1,3,5
impulses and 2,4 counter moves. I do NOT care about all the
internal 'fractal' sub-waves that occur within the major 'legs', nor
do I care that the 5-leg pattern may be incomplete. It is quite
ALRIGHT to TENTATIVELY label PARTIAL patterns that are NOT complete
(such as leg 1 at its pivot, leg 2 at its pivot, leg 3 DURING its
progress, etc.). A visual inspection of the chart with the labels
(markers) displayed would immediately confirm or eliminate the
pattern as being 'mature' enough to potentially trade.
YES, there is some room for visual interpretation. But my target
purpose is to be able to scan a watchlist universe of stocks so as to
create smaller watchlists of potential 'candidate' stocks that may be
in various 'phases' (or legs) of the major E.W. pattern.
A complaint that I've heard many times about Advanced Get, which does
a marvelous job of identifying and labeling the E.W. pattern, is that
it changes the E.W.-labeled points as new data is added. Anyone who
truly understands the nature of the E.W. pattern realizes that the
pattern DOES evolve as new information (data) is added in time. So
that particular software algorithm simply reflects this 'updating'
process, and RIGHTLY so! One just needs to understand that this is
the nature of the E.W. model as applied to financial markets.
Whether or not USING this DYNAMIC information for profitable trading
purposes is 'practical' or not, as Dimitris has astutely pointed out,
is a whole different story, and I wholeheartedly agree with this!
THAT issue is best left to another trading systems 'strategy' forum.
So, the bottom line to my 'clarified' question is that describing the
manual process for (tentatively) identifying the major legs is
obviously the first step, and assuming AFL has the necessary
functions to implement the manual logic process, then the coding can
certainly be done. And, again, I really don't care if stocks that
are found using explorations for particular E.W. phases one day
subsequently appear in different 'updated' phases on subsequent
days. From a general universe of, say, 2000 stocks, I just want to
create smaller 'subset' symbol lists of E.W. 'candidates' to visually
examine further for possible trading consideration. And, after all,
isn't that one of the reasons for using AB in the first place?!
Thank you, again, Dimitris!!
Buzz
--- In amibroker@xxxxxxxxxxxxxxx, "DIMITRIS TSOKAKIS" <TSOKAKIS@xxxx>
wrote:
> Bill, come on !!
> If you describe what you do manually, then it may be coded in AFL.
> Useful or not is another topic, but it is not a reason not to code
it.
> A code may reproduce exactly what you do manually and you may
equally
> trust it.
> Any subjective EW counting may be coded in AFL, especially if there
> are other softwares in the market doing the job. What do these
> softwares have behind the curtain ? Nothing but a "language" by far
> worse compared to AFL. And, in last analysis, these "specific"
> softwares could not even dream the rest AFL applications.
> Dimitris Tsokakis
> --- In amibroker@xxxxxxxxxxxxxxx, "wavemechanic" <wd78@xxxx> wrote:
> >
> > ----- Original Message -----
> > From: buzzmr
> > To: amibroker@xxxxxxxxxxxxxxx
> > Sent: Wednesday, June 16, 2004 10:35 PM
> > Subject: [amibroker] Identifying Elliott Waves using AFL
> >
> >
> > Has anyone here attempted to use AmiBroker's AFL code to
identify
> and
> > mark Elliott Wave 'legs' on a chart? I would think this is
> rather
> > involved, but any feedback and/or suggested coding would be
> > appreciated. Thanks!!
> >
> > Buzz
> > Not only very involved, but since EW counts are often quite
> subjective I doubt that you would trust the code to duplicate what
> you do manually. There are several programs that do provide
counts.
> You might try them on a trial basis to see if any of them provide a
> count under a variety of conditions and markets that you are happy
> with. I never reached a satisfactory comfort level with those
> programs and doubt that anyone starting from scratch will exceed
> their performance.
> >
> >
> >
> >
> >
> > Check AmiBroker web page at:
> > http://www.amibroker.com/
> >
> > Check group FAQ at:
> http://groups.yahoo.com/group/amibroker/files/groupfaq.html
> > Yahoo! Groups Links
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