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Thread: Elliot wave pro indicator

  1. #11
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    may i know , type gertley indy there.

  2. #12
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    Quote Originally Posted by trademonster View Post
    yep, the one on the jpy pairs on the 1hr time frame. Just wondering how the 30day test went.
    Hi trade, just posted some results on that thread... I was trying to use other pairs, but for some reasons i cant have the same results that i have with eurjpy (chfjpy) and gbpjpy... By the way the back test prove that if you have patience and good mm, this system is profitable

  3. #13
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    I've downloaded this indicator, out of curiousity and found it to be utterly useless.

    I've looked at many other types of indicators too and always find that they seem to
    be coded by people who

    1) Don't understand the underlying patterns or
    2) Have no idea how to actually put pattern ideas into code .

    The very first chart posted in this forum is an *invalid* E.W. the fact that the charts
    is also clattered with other patterns doesn't help either.

    There is just too much wrong with that chart... but we can't talk about it all until
    we fix the fact that the numbering is going in the wrong direction - totally:

    Wave 3 is an "impulsive" wave and as such should be in the direction of the "trend",
    on that particular chart the short term trend is down and hence wave 3 should also be
    down!

    Wave 5 should be a "terminal" not a bloody swing high point somewhere *on* the
    trendline!

    I beleive that particular part of the EW should look something like this:

    Attachment 1068

    If you don't beleive me, just look at the volume at the bottom, volume (often ignored
    by many) is important in drawing E.W. and each wave should end with an increased
    volume.

    There are many other rules this indicator break (eg W2 ~ W4 in most cases) also
    note that we in fact have an extended W5 - it should never be a "non-terminal!!!"

    The second one is equally silly - how can you have W4 below W2 and W5 below W3???

    Unfortunately, *most* of the patterns drawn by that indicator are incorrect a very
    unreliable piece of ... software!

    I wouldn't want that indicator even if it was free - it's utter rubbish.

    f.t.
    Last edited by fractal_thoughts; 06-13-2012 at 09:31 AM.
    kidrock82 and vinhlp like this.

  4. #14
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    F_T i completely agree, i ve used that indi for a week, than throw it away :P, i was trying to understand how E_W works but that dindt helped at all

  5. #15
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    I thought it was kidrock who used the Elliottwavespro Indicator to illustrate his point and he referred to it as 1 of the best EW indicators. Im not here to argue the technicalities of the Indicator as Im trying to save time and use other peoples knowledge to help me trade. All Im concerned about is the signals it gives me. Im very happy with it and my confidence in the EWavesPro Indicator is growing.
    maybe your analysis is going to deep ft , but if your knowledge is generating good profits then plse share with us

  6. #16
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    MT4_GoodTrade_3

    MT4_GoodTrade_3

    Elliot wave pro indicator-00028.jpg

    experts
    Attached Files Attached Files
    dadik, balamania and tounsifx like this.

  7. #17
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    @draugas2: where is a place to read more about this EA? thanks!

  8. #18
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    Quote Originally Posted by kor4x View Post
    @draugas2: where is a place to read more about this EA? thanks!
    Advisor Indicator (English) 3 MT4_GoodTrade

  9. #19
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    draugas, can you attach indicators required with this EA to work? I have put it on chart but no wave lines etc are shown... only EA smiley is there....... can u pls post all indicators in pic you attached

  10. #20
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    Quote Originally Posted by alijilani View Post
    draugas, can you attach indicators required with this EA to work? I have put it on chart but no wave lines etc are shown... only EA smiley is there....... can u pls post all indicators in pic you attached
    MT4_GoodTrade_3

    Elliot wave pro indicator-t-.jpg

    Indicators in place of the experts

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