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Elliott Wave 5 Finder and Scanner

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Our Price: $249.95




Utilizing the powerful scanning capabilities of TradeStation's RadarScreen TM platform, this set of tools enables you to efficiently scan your favorite list of stock and futures symbols for an important trading setup: the start of the Elliott 5th Wave.

The Elliott Wave 5 Finder Tool Set consists of a charting and a scanning version. In the charting format, the Wave 5 Start indicator looks for the end of Wave 4 of a characteristic Elliott Wave pattern and marks that point on the price chart with a large colored dot. This point has been found to have a high correlation with potentially significant moves following a Wave 4. The dot color, size, and text are user controlled inputs along with a Sensitivity setting input that controls the strength of the swing pivots being considered.

In the RadarScreen scanning version, color-coded cells display the number of bars since the last Wave 5 signal, along with the direction of the established trend. A second column tracks the percent change up or down since the Wave 5 signal. For example in the product image, the symbol ALB that displays in the linked chart window had a Bearish Wave 5 Alert signal identified 11 bars ago and is down 1.53% since the start of the Elliott 5th Wave.

Linked windows allow you to click on the RadarScreen symbol for any Wave 5 signal and view the chart for further analysis. This tool set is also available for the MultiCharts Scanner.


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Futures and forex trading contains substantial risk and is not for every investor. An investor could potentially lose all or more than the initial investment. Risk capital is money that can be lost without jeopardizing ones’ financial security or life style. Only risk capital should be used for trading and only those with sufficient risk capital should consider trading. Past performance is not necessarily indicative of future results.

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