[EquisMetaStock Group] Re: Nelly Elliot Wave MetaStock Add On

["formulaprimer" <formulaprimer@xxxxxxxxx>]

Henry makes valid points and what makes this elliot wave system different from the tactical vectors system that uses zig zag function and we know all the problems with the zig zag and related functions.

--- In equismetastock@xxxxxxxxxxxxxxx, "Henry" <henry1224@xxx> wrote:
>
> Eugene Please don't take this personally. Your indicators do not have a value for the last six bars traded. It leaves the trader in the dark as to what to do next. I'm just giving you my opinion of the charts that you provided. I couldn't tell what was going on. A forward Ref function would give a Null result so I thought that your code used some form of forward ref. If you intend to offer this as an add-on I would code it to give a value for the last bar traded! or at least a support and resistance level 
> 
> just 2cents
> 
> Henry 
> 
> --- In equismetastock@xxxxxxxxxxxxxxx, "ELab" <elabunsky@> wrote:
> >
> > > dear Eugene,
> > > It seems that your indicators stop about 5 to six bars from the right edge of the charts. That indicates that 1: they use some form of a forward Ref function. I need to know the value of the indicator today and not have to wait six bars late. I need to know the exact time when Elvis leaves the building!
> > > 
> > > Thanks for more info. 
> > 
> > Dear Henry,
> > 
> > I have developed this indicator as custom work and some users like Elliot Wave analyze. This is they choice what uses for analyze. I do not like say - THIS IS HOLY GRAIL!!! WOW!!! Just offer other MetaStock users try it and contact me in case they will interesting order it. 
> > 
> > A bit how it works:
> > 
> > It identify some period (differ for each sort of EW line). For example, for Weekly Wave this period is one week. And yes, then it'll select HIGHEST AND LOWEST bar and chart the line depends on which bar number is smaller. Check out source code for WEEKLY WAVE logic below.
> > I like notice - this is ANALYZE METHOD only. NOT TRADEABLE Add-On. Visit my personal web site for check out my own TRADEABLE logic.
> > And my Nelly Elliot Wave MetaStock Add-on plots straight lines which help traders analyze stocks. Not indicator's style lines like other tools. This is major feature.
> > 
> > // BEGIN LOGIC
> > 
> >   procedure IdentifyWeeklyWaves;
> >   var
> > 
> >     i: integer;
> >     lastWeekClose, lastShift, lastWeekOpen: integer;
> >     weekHighShift, weekLowShift: integer;
> >     weekHighPrice, weekLowPrice: double;
> >     swing_0, swing_1, swing_2, swing_3: integer;
> >     middleWeekShift: integer;
> > 
> >   begin
> > 
> >     lastShift := -1;
> > 
> >     for i := 0 to High(timeDate) do
> >     begin
> > 
> >       lastWeekClose := GetLastWeeklyClose(i);
> > 
> >       if (lastShift = lastWeekClose) then
> >         Continue
> >       else
> >         lastShift := lastWeekClose;
> > 
> >       lastWeekOpen := GetLastWeeklyClose(lastWeekClose);
> > 
> >       if (lastWeekClose = -1) or (lastWeekOpen = -1) then
> >         Continue;
> > 
> >       weekHighShift := GetHighestHighShift(lastWeekClose - 1, lastWeekClose - lastWeekOpen);
> >       weekLowShift := GetLowestLowShift(lastWeekClose - 1, lastWeekClose - lastWeekOpen);
> > 
> >       weekHighPrice := H[weekHighShift];
> >       weekLowPrice := L[weekLowShift];
> > 
> >       if (weekHighShift < weekLowShift) then
> >       begin
> >         weeklyWaves[lastWeekOpen] := weekHighPrice;
> >         middleWeekShift := lastWeekClose - MathCeil((lastWeekClose - lastWeekOpen + 1) / 2);
> >         weeklyWaves[middleWeekShift] := weekLowPrice;
> >       end
> >       else
> >       begin
> >         weeklyWaves[lastWeekOpen] := weekLowPrice;
> >         middleWeekShift := lastWeekClose - MathCeil((lastWeekClose - lastWeekOpen + 1) / 2);
> >         weeklyWaves[middleWeekShift] := weekHighPrice;
> >       end;
> > 
> >     end;
> > 
> >   end;
> > 
> > // END OF LOGIC
> > 
> > Regards,
> > Eugene Labunsky.
> >
>




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