I will Develop your Indicator or Strategy for FREE

[koganam]

I have read that article in the Futures Magazine back in 2010 and decided for myself that it belongs to the category of snake oil. What is a major or minor leg, can only be determined with hindsight. But then I am not objective, as I have never been able to count waves either.

Which I believe is precisely what I said about so called major and minor legs.

For what it is worth, I can never get a handle on Elliott Waves either. In fact, I think that if we put 100 so-called Elliott Wave experts in a room and ask for a count, we shall have 179 different counts!

[SnakeEYE]

LOL...You are right on the money,Harry.Nothing is precise until you`ll measure it.99,9% what`s in the public domains is a snake oil.But then again,to each his own.

[Harry]

Any of you pros are willing to give it a shot?Could anyone compose an indie for that Grail?

http://www.futuresmag.com/2010/05/01/predicting-price-targets-with-the-rule-of-seven

I think it would be a great, handy tool!

I have read that article in the Futures Magazine back in 2010 and decided for myself that it belongs to the category of snake oil. What is a major or minor leg, can only be determined with hindsight. But then I am not objective, as I have never been able to count waves either.

[SnakeEYE]

This one is the most prominent one i`ve found so far.You can use it as a carcas for futher developement.

[SnakeEYE]

A minor leg is aways a sort of ratio of the initial leg.It could be easily determine by breaking the low of the HH of the initial leg.The ratio can be arbitrary,or user selectable.Let`s say you are into stats.Pick any statistically significant number,say 0.05 or p-value.So,if it goes 0.05 percent lower and closes beyond the low of the HH of the initial leg,then,for sure,you have a developing minor leg.Now,how to determine the target for the minor leg?Here you can use one of the significant fib numbers as well.There you have it.Now to determine the major leg,you use the high/low difference of the initial leg and apply the rule 7 multipliers to it.To determine the initial leg the ZZ logic can be applied as a core.Just an example on how it can be achieved.

[koganam]

You are the developer,are you not?Check the second page of the article.You`ve probably missed one.It`s all there.

I already read both pages. The second page has all the multipliers to determine targets.

That is not the issue. Here are 2 excerpts from the page. (emphasis mine)

... Because this is a minor leg, we expect to see both of our first two price targets achieved, and usually within a period not exceeding three times the initial leg.

... Price promptly retreated to $1.9005 on April 28. This retreat set up our first major leg (see “Second leg,” ). We can employ the rule to find longer time frame targets.

There is no explanation of how to determine what is a minor leg, and what is a major leg: they are simply stated. Without an explanation, capable of translation into mathematical terms, I cannot see how to make the filters.

[SnakeEYE]

How do I know which one is a minor leg, and which a major? The description is so non-existent, that it seems to me to be hindsight trading.

You are the developer,are you not?Check the second page of the article.You`ve probably missed one.It`s all there.

[koganam]

Could be various types to determine it.You can use a ZigZag logic,lookback period,for e .g.

How do I know which one is a minor leg, and which a major? The description is so non-existent, that it seems to me to be hindsight trading.

[SnakeEYE]

No definitions/explanations of how to determine a minor leg and/or a major leg.

Could be various types to determine it.You can use a ZigZag logic,lookback period,for e .g.

[koganam]

Any of you pros are willing to give it a shot?Could anyone compose an indie for that Grail?

http://www.futuresmag.com/2010/05/01/predicting-price-targets-with-the-rule-of-seven

I think it would be a great, handy tool!

No definitions/explanations of how to determine a minor leg and/or a major leg.

[SnakeEYE]

Determining a first leg could be done via a look back period...C`mon folks,creep out!

[SnakeEYE]

Any of you pros are willing to give it a shot?Could anyone compose an indie for that Grail?

http://www.futuresmag.com/2010/05/01/predicting-price-targets-with-the-rule-of-seven

I think it would be a great, handy tool!

[peterb]

Hi Michel,
Thanks for offering this!
I am trying to come up with an indicator for NT7 that will screen for markets that are trading in a range (bracketing) over a specified time period, such as 5, 15 or 20 days. Beyond my limited abilities, do you think you can help? Even if not, some suggestions on am algorithm would be appreciated
All the best,
Peter

[Harry]

hello! can You make something like weis wave indicator? They have sth similar on sierra, it may be a clue: http://www.sierrachart.com/supportbo...ad.php?t=33108

There is an indicator similar to the Weis Wave available here:

https://www.bigmiketrading.com/elite-circle/13778-wave-volume-indicator.html#post159832

but you need elite membership to download this indicator from Big Mike's.

[rafi123]

hello! can You make something like weis wave indicator? They have sth similar on sierra, it may be a clue: http://www.sierrachart.com/supportbo...ad.php?t=33108