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Hi,
I know this is an old topic but I have followed Elliott Wave for
years and wanted to provide formulas that are different than the
standard EW retracement formula. I would like to "automate" the
process however it is far beyond my level of AFL comprehension. I
recently read a post that stated if something can be done it can
be "AFL'd". I don't know that I will ever reach that level of
proficiency with AFL. I wanted to share these for anyone that uses EW
and might be interested in automating these by identifying the pivots
automatically. The "Elliott Progression" simply uses the last
completed high/low swing prices for projecting future price points.
The progression formula works as follows; When the first pivot swing
is complete(however minor)the formula uses the range between the high
and low of the swing for the Fib projections. The N62 is calculated
in the opposite direction of the projections,(my signal for
directional change).
Plot( Close, "Close", 1, 64);
//Progressive Pivots//
A=1135.00;
B=1133.00;
Plot(a,"Pgp Pivot",8);
Plot(b,"Pgp Pivot",8);
x=IIf(A>B,A-B,B-A);
//Elliott Single Swing Progression//
N62=(1.62*x);SSR62=IIf(a>b,b+n62,b-n62);
p62=(0.62*x);SSP62=IIf(a>b,b-p62,b+p62);
p100=(1.0*x);SSP100=IIf(a>b,b-p100,b+p100);
p127=(1.272*x);SSP127=IIf(a>b,b-p127,b+p127);
p162=(1.62*x);SSP162=IIf(a>b,b-p162,b+p162);
p200=(2.0*x);SSP200=IIf(a>b,b-p200,b+p200);
p262=(2.62*x);SSP262=IIf(a>b,b-p262,b+p262);
p424=(4.24*x);SSP424=IIf(a>b,b-p424,b+p424);
Plot(pgn62,"62 SSR",4);
Plot(pge62,"62 SSP",7);
Plot(pge100,"100 SSP",7);
Plot(pge127,"127 SSP",7);
Plot(pge62,"162 SSP",7);
Plot(pge200,"200 SSP",7);
Plot(pge262,"262 SSP",7);
Plot(pge424,"424 SSP",7);
The following formula uses the previous two pivots in the direction
of the move to project the Fibs. To project a market moving up Pivot
A3 will be a pivot low, B3 will be a pivot high, and C3 will be a
pivot low and vice versa.
Plot( Close, "Close", 1, 64);
//Double Swing Pivots//
A3=1146.00;
B3=1144.00;
C3=1145.00;
Plot(a3,"DP Pivot 1",8);
Plot(b3,"DP Pivot 2",8);
Plot(c3,"DP Pivot 3",2);
//Elliott Double Swing Progression//
A1=1138.50;
B1=1127.25;
Plot(a1,"Pr Pivot",16,8);
Plot(b1,"Pr Pivot",16,8);
xy=IIf(A3>B3,A3-B3,B3-A3);
DP62=(0.62*xy);dpe62=IIf(a3>b3,C3-dp62,C3+dp62);
DP100=(1.00*xy);dpe100=IIf(a3>b3,C3-dp100,C3+dp100);
DP127=(1.272*xy);dpe127=IIf(a3>b3,C3-dp127,C3+dp127);
DP162=(1.62*xy);dpe162=IIf(a3>b3,C3-dp162,C3+dp162);
DP200=(2.0*xy);dpe200=IIf(a3>b3,C3-dp200,C3+dp200);
DP262=(2.62*xy);dpe262=IIf(a3>b3,C3-dp262,C3+dp262);
DP424=(4.234*xy);dpe424=IIf(a3>b3,C3-dp424,C3+dp424);
Plot(dpe62,"62 DSP",4);
Plot(dpe100,"100 DSP",4);
Plot(dpe127,"127 DSP",4);
Plot(dpe162,"162 DSP",4);
Plot(dpe200,"200 DSP",4);
Plot(dpe262,"262 DSP",4);
Plot(dpe424,"424 DSP",4);
As you can see, my formulas are less than advanced :-(
Any help will be greatly appreciated.
Best Regards,
David K.
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