7 The Elliot Wave Oscillator - Amibroker AFL

| Tuesday, 12 March 2013


The Elliott Wave Oscillator is essentially a MACD Histogram or more precisely a 34-period simple moving average subtracted from a 5-period simple moving average.
It can be applied in all timeframes and works very well with the Triple Trend approach of using three time frames: the long-term, the medium-term and short-term.
The key is to ensure you use between 100 and 150 bars, with 120 bars generally providing the most consistent results.
This oscillator produces a strong correlation with patterns of the Elliot wave. The key take away when using the EWO is that the strongest readings will show you where the 3rd wave lands on the chart. The EWO will work in all time frames but it is recommended you have a large enough sample of price for the oscillator to work effectively.
For more details of wave counts and using this indicator plz visit this page
http://www.dailyfx.com/forex/education/trading_tips/daily_trading_lesson/2012/12/05/Learn_Forex_Using_the_Elliot_Wave_Oscillator_to_Predict_Forex_Moves.html

AFL for Amibroker
==============================================

/// PROGRAMME MODIFIED BY PRASAD RAO FOR MASTER PLOTTER ///

_SECTION_BEGIN("BACK COLR");

_SECTION_BEGIN("PRASAD SYSTEMS");
Param("DEDICATED TO MY FATHER",5);
_SECTION_END();
 SetChartBkColor( ParamColor("Chart Color", colorBlack));
_SECTION_BEGIN("BACKGROUD LTRS");
SetChartOptions(0,chartShowArrows|chartShowDates);
GfxSetOverlayMode(1);
GfxSetTextAlign( 6 );// center alignment
GfxSetTextColor( ParamColor("Text Color", ColorHSB( 42, 42, 42 ) ));
GfxSetBkMode(0); // transparent
GfxSelectFont("Tahoma", Status("pxheight")/12);
GfxTextOut( "PRASAD ANALYTICS ©", Status("pxwidth")/2, Status("pxheight")/14);
GfxSelectFont("Tahoma", Status("pxheight")/9 );
GfxTextOut( Name(), Status("pxwidth")/2, Status("pxheight")/4.1 );
GfxSelectFont("Arial Narrow", Status("pxheight")/28 );
GfxTextOut( "prasad9rao@gmail.com", Status("pxwidth")/2, Status("pxheight")/1.5);
GfxSelectFont("arial narrow", Status("pxheight")/27 );
GfxTextOut( "Dedicated to MY FATHER : BALKRISHNA RAO", Status("pxwidth")/2, Status("pxheight")/1.15);
_SECTION_END();

StartBar=SelectedValue(BarIndex());
FinishBar = EndValue( BarIndex() );
i = Startbar;

EWODAILY =  EMA(C,5) - EMA(C,34);


SIG =  EMA(EWODAILY,5);


GfxSelectFont("Tahoma", 11, 700 ); 


todayEWODAILY    = EWODAILY  ; 

onedaybackEWODAILY    =Ref(EWODAILY  ,-1);
twodaybackEWODAILY   =  Ref(EWODAILY  ,-2)  ;

if( (todayEWODAILY   [i] > onedaybackEWODAILY   [i])   AND (onedaybackEWODAILY   [i] <= twodaybackEWODAILY  [i]))

{
GfxSetTextColor(ColorRGB(186,236,94)); 
GfxTextOut("New Trend Up",400,1);
}
if( (todayEWODAILY   [i] < onedaybackEWODAILY  [i])   AND (onedaybackEWODAILY   [i] >= twodaybackEWODAILY  [i]) )
{
GfxSetTextColor(colorRed); 
GfxTextOut("New Trend Dn",400,1);
}

if((todayEWODAILY   [i] > onedaybackEWODAILY  [i])   AND (onedaybackEWODAILY   [i] >= twodaybackEWODAILY   [i])

)
{
GfxSetTextColor(ColorRGB(221,248,112)); 
GfxTextOut("Trend Up",400,1);
}

if( (todayEWODAILY   [i]< onedaybackEWODAILY  [i])   AND (onedaybackEWODAILY   [i] <= twodaybackEWODAILY   [i])

                       )
{
GfxSetTextColor(ColorRGB(248,113,113)); 
GfxTextOut("Trend Dn",400,1);
}

EWODAILY_ZEROCRUP = Cross(EWODAILY ,0);

EWODAILY_ZEROCRDN = Cross(0,EWODAILY );

if(EWODAILY_ZEROCRUP[I])
{
GfxSetTextColor(ColorRGB(221,248,112)); 
GfxTextOut("Zero Cross Up",550,1);
}

if(EWODAILY_ZEROCRDN[I])

{
GfxSetTextColor(ColorRGB(248,113,113)); 
GfxTextOut("Zero Cross Dn",550,1);
}

mycolor=IIf(EWODAILY <0 ,ColorRGB(275,175,255),IIf(EWODAILY >0 ,ColorRGB(151,220,150),colorWhite));


Plot(EWODAILY , "EWODAILY ", mycolor, styleHistogram | styleThick| styleNoLabel, styleOwnScale);


Plot(SIG ,"",colorRed,styleLine|styleThick);
GfxSetTextAlign( TA_left = 0);
GfxSelectFont("Tahoma", 11, 700 ); 
GfxSetTextColor(ColorRGB(209,191,255)); 
GfxTextOut("PRASAD ANALYTICS - EWO ",07, 0); 
GfxSetTextAlign( TA_LEFT = 0 );
GfxSelectFont("Tahoma", 11, 700 ); 
GfxSetTextColor(ColorRGB(255,180,61)); 
GfxTextOut(Name()+ "   " + Date(),07,20); 

Title =


"\n";


_SECTION_END();

7 comments :

  1. Great job maaan ! KEEEP IT UP !

    ReplyDelete
  2. Thank you for your Elliott Formula

    ReplyDelete
  3. MR. PRASADSIR,

    FIRST OF ALL HATS OFF YOU FOR CREATING & HELPING THIS MUCH OF PEOPLE OUT HERE...

    YOU DECIDED NOT TO PROVIDE YOUR HOLY GRAIL TO PUBLIC AFTER WISESTOCKTRADER INCIDENT, BUT SIR I LOOKED EVERY POST OF YOUR BLOG WHERE PEOPLE BEGGING FOR THAT HOLY GRAIL,

    SIR I REQUEST YOU MAY NOT PUBLIC THAT AFL BUT PLEASE PLEASE DO FEVER TO PROVIDE THAT ON EMAILS...

    PEOPLE ARE BEGGING BECAUSE THEY SOMEWHERE LOOSING UP OR WIPED OUT THEIR ACCOUNTS SO MANY TIMES, I AM ONE OF THEM.

    SIR NOW ONLY YOU & YOU CAN SAVE US.....


    MAY BE WE ARE NOT DESERVE THIS THINGS, BUY SIR WE OWE YOU IF YOU HELP US, WE OWE YOU SIR....


    THE HOPE :----

    MY EMAIL ID

    shah.abhishek7271@gmail.com

    ReplyDelete
  4. Dear Sir,

    I have studied all the concepts of Elliot wave for the last 4-5 years. but i could not find a single afl which could meet the rules based on Elliot wave in Amibroker. Today i have found an Excellent Elliot wave afl which you made. i would be thankful to you if you can email me the Elliot wave HolyGrail afl which can detect Elliot patterns and Divergences in RSI/Stochastics.

    my Email is ngopipai@gmail.com

    Thanks and Regards,
    Gopinatha pai

    ReplyDelete
  5. sir
    plz send me also....

    my emailID is mk.7150@gmail.com

    ReplyDelete
  6. sir
    plz send me also....
    adel828@gmail.com

    ReplyDelete
  7. May I request you to please send me email on Elliot wave HolyGrail afl .Wave count is the most important to remain on the right side of the market. Email--jkpahuja12@gmail.com

    ReplyDelete

▲Top▲