Re: [EquisMetaStock Group] Re: ELWave Add on for Metastock, MetaStock Email Archive

Hi Alvin
The program works fine on EOD as that was what I was using before upgrading to Metastock Pro. The demo version will give you an idea of what to expect. My system involves screening equities which are in wave 4 (easist wave to identify in my opinion).EOD with AplhaOmega will do that and a lot more. The program will identify minor waves and targets for end of wave 4 etc but having got into wave 4 there are many other techniques for estimating price/time targets based on fib ratios. It's still not an exact science by any means. For example I have been tracking Wave 4 at present on Royal Bank of Scotland (RBS.L).This WAVE FOUR started on 6th may and I think it is now in wave 4 of wave 5 of WAVE FOUR with an expectation to be finished by 18th June. AlphaOmega confirms what I have worked out , but the real bonus is actually being able to look into wave four in detail (and I'm not using the AlphaOmega programme but my other indicators as well as AO on Profitunity), which is not possible with EOD data. If this one trade works out then for me it justifies even the small contribution made by AlphaOmega. If you are hoping that the programme will identify when to get on say a Wave 5 (and straight to the bank) you probably have too high an expectation. Try out the free trial version, if it dos'nt help then the full version won't either. For me it's still a broad tool which helps me work out whether I'm standing near the edge of a cliff or at the bottom of a mountain.....but I am still the one who has to work out how to get up or down.

I still think the biggest leap in my trading (I am a full time trader for past two years) only came in the last month when I upgraded to Metastock Pro. I was succesful with EOD, so now I am more successful with Pro version..........especially with timing the markets.
Hope this helps
Ken

From: Alvin Yu <alvinyu2005@xxxxxxxxxxxx>
To: equismetastock@xxxxxxxxxxxxxxx
Sent: Wednesday, 10 June, 2009 12:58:05 AM
Subject: Re: [EquisMetaStock Group] Re: ELWave Add on for Metastock

Hi Ken

Thks for sharing . I visited the web site .

I am not using live data .Is this add-on practical base on EOD data (ie day chart) base on your finding ?

rgds

From: Ken Culbert <kenwynchurch@ yahoo.com>
To: equismetastock@ yahoogroups. com
Sent: Tuesday, 9 June 2009 6:11:43
Subject: Re: [EquisMetaStock Group] Re: ELWave Add on for Metastock

I'm actually referring to a more updated version 5.7. Alphaomega Elliott Waves is a program available through Equis which is developed by Robert Tasse. I bought the most up to date version from Robert at his web site http://www.alphomeg aew.com/, which also was cheaper. Robert will also allow you to download the complete manual without purchasing the program and also allow you to use the free demo version to try out (without credit card). I would suggest you log on to his website and contact Robert if you have any queries. He is only too happy to answer questions, in my experience.
If after trying out the above you still have queries re chart patterns then I will try to help. My experience of Elliott waves as applied to equities is that it is a steep learning curve but a very profitable one if you can identify say the end of a wave 4/beginning of wave five.. I struggled with this for some time (and still do) but have found that the Profitunity indicators that come with Metastock are very helpful (read Bill Williams stuff on Chaos and how to us AO indicator to identify Wave 4), as is the AlphaOmega software. However I have to add that I only became quite proficient and precise at wave identification when I moved up to Metastock Pro and QuoteCentre using smaller timeframes to identify say the end of Wave 4 by looking at say the wave 5 within wave 4 (only possible on 10 min chart).
As I say it is not the Holy Grail as I also use it in combination with Demark signals and Kase indicators.
Hope this helps

From: Alvin Yu <alvinyu2005@ yahoo.com. sg>
To: equismetastock@ yahoogroups. com
Sent: Tuesday, 9 June, 2009 10:50:03 AM
Subject: Re: [EquisMetaStock Group] Re: ELWave Add on for Metastock

Hi kenwynchurch

Are u refering the MetaStock Plug-Ins and Add-Ons AlphOmega Elliott Waves 4.3 from Equis that is good for W3,5 & C per your experience ?

I am looking for a software that can tell these .Can u share with me on one of the chart patterns using the add-on ?

Looking forwards for this

rgds

From: kenwynchurch <kenwynchurch@ yahoo.com>
To: equismetastock@ yahoogroups. com
Sent: Monday, 8 June 2009 8:54:31
Subject: [EquisMetaStock Group] Re: ELWave Add on for Metastock

Can't vouch for the comparison as I've never compared it. My requirements only need to confirm if I am in Elliot wave 3,5 or C so the add on meets my needs. If you need a general check where you are in the Elliot wave count you should look also at Profitunity signals on Metastock expecially if like me you have the Pro version. The Profitunity system is very accurate at locating Wave 4 in particular.

--- In equismetastock@ yahoogroups. com, Rajiv Vyas <rajiv1@xxx> wrote:
>
> Thanks. How good are the counts per se i.e. how do they compare with
> wave counts of people like Steve Hochberg and Bob Prechter?
>
> Thanks,
>
> Rajiv
>
> On Thu, Jun 4, 2009 at 7:52 AM, kenwynchurch< kenwynchurch@ ...> wrote:
> >
> >
> > --- In equismetastock@ yahoogroups. com, Rajiv Vyas <rajiv1@> wrote:
> >>
> >> Has anyone tried ELWave add on for Metastock? What are you opinions?
> >>
> >> Thanks,
> >>
> >>
> >> --
> >> Rajiv
> >>
> > Have tried this for past six months without making a useful trade. It's a
> > tool but hardly a key one in my arsenal..... .adds an extra layer of
> > complexity to trading which does not suit everyone.... .my advice...... try
> > the free demo version before buying the full one. I now use AlphOmega add on
> > (better value) to confirm Elliott wave count (also available in Demo
> > version).... ...but I never trade on Elliott wave count on its own.
> >
> >
>
>
>
> --
> Rajiv
> Sent from Baltimore, Maryland, United States
>

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