ELWAVE Trading Signals & Target Clusters

ELWAVE Trading Signals will automatically signal and give valuable feedback on trading opportunities from the patterns that have been validated by ELWAVE Automatic.
When the Trading signals module is added to the software, ELWAVE will show the so called Summary Inspector at the bottom of your screen and present the forecast on multiple time frames.

You need both the Basic and Automatic module to run the Trading Signals & Target Clusters.

 

Key features

The Summary inspector displays concise information on multiple timeframes, enabling you to spot trading opportunities in an instant

Among other things, the Summary inspector shows the Trend, the EASI (Positive, Negative, Neutral) the Exit level, the expected Reward as well as the Risk Reward on several time frames. If for example 3 consecutive time frames show a clear Positive, get ready for an acceleration of the up trend!

In view of the information on multiple time frames, signals for patterns in patterns are supported.

The Trading Signals window presents trading signals for all patterns found. You will have to display the Wave tree first by selecting TYPICAL LAYOUT from the Analysis menu. Next double click on a wave button to see the wave signals of that wave.

Trading opportunities are indicated in the Trading Signals window depending on the progress of a pattern, each pattern will indicate specific expected entry and exit levels, which are different for every wave of the pattern

At the same time and according to the same method, expected stops are indicated for waves in every pattern in the Trading Signals window

The Alert inspector will warn you as soon as critical levels are broken and, if necessary, it will update the analysis automatically

The Alert inspector lists the signals that have been detected during checking of trading signals

Details on triggered trading signals, such as which wave and which rule, can be inspected by expanding the Alert inspector window

If a real-time feed has been enabled, ELWAVE will automatically check the incoming ticks and update the analysis if critical levels are broken.

A powerful simulation feature enables you to truncate price data, make an analysis at any point in time and add data to the chart step by step (not in working demo)

The Target Zones combine Fibonacci time and price targets in combination with wave count alternatives to project an expected path for future price movements. In addition hot spots are visualized in the chart, which show high probability target zones where prices are expected to travel to or to meet resistance. ELWAVE projects Target Zones for multiple time frames. As you can see there are two Target paths projected and each time this stock finds support at the projected resistance zones. (Note: The greyed out data is not part of the analysis, it shows the actual movement of the stock after the analysis was made.)

The Time Clusters indicator projects sensitive time periods where important reversals are more likely. The more clusters near a specific date, the better the chances that the market will reverse from a top or bottom or at least meets important resistance. These time clusters can be based on the patterns found by the automatic Elliott analysis or on a user-defined swing filter using Fibonacci ratios. It is an interesting research tool for determining at what point in time important changes can occur. Use the Time Clusters indicator to look for possible turning points in time.