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Simple Draw Tool to Manually Label A-B-Cs and 5 Wave Patterns - Does it Exist?
the ZigZag is an free indicator that can be found in ninjatrader 7. If you open up a chart with the ZigZag indicator and then overlay your labels. If this is for finding Elliott patterns, there are a ton of rules to follow.
good luck
Ha, I use Ninja, and didn't even know about it... I never use indicators, though this one may be worth a look...
Elliot has some use, but I look for harmonic patterns, and give them much more weight than wave count. I mainly use the ABC labels, and rarely the 1,2,3,4,5 labels.
BTW, the rules aren't that bad: Wave 4 cannot encroach on wave 2, and of the motive waves (waves 1,3,5) wave 3 is never the smallest. The corrective waves (2 and 4) should alternate form: if one is a zigzag, the next one should be a flat.
That's about it!
These idealized wave forms do occur, and it's amazing how much they look like the text books... You can find them most every day in some market on short time frames. Have a great one...
Hi forker,
...interesting you talk about, harmonic patterns, and give them much more weight than wave count. Is there any info out there worth reading.
I tried Elliott for a while but found I spend to much time counting etc etc. Never heard of "harmonic patterns"
Well I have my own unique approach that I couldn't possibly explain without writing a small book, BUT, I have looked at Larry Pesavento's work as well as Timothy Morge and Dudella and think they are all helpful. Both Pesavento and Morge even offer mentoring if someone so desires.
Check out Dynamic Trader, it has all the functions that you describe above for manual wave counts, pm me if you want any further info, i have attached a screen shot, that shows the manual wave count menu on the top right. For example, You select label wave 1 of a particular degree, and place it on the charts & it automatically selects wave 2, 3, 4, 5. Same for abc's.
I wonder if someone who can write software for ninja, could let us know how complicated this would be to replicate on Ninja? I can do a short video to explain full functionality of this feature if needed.