Combining Andrews With Elliott Wave High by Ron Jaenisch
The first concept that a student of the Elliott wave theory learns is about the five-wave structure of a move. The first concept that a student of the Andrews method learns is that prices make the median line about 80% of the time. The two concepts are compatible and they are also complementary.
To draw an Andrews median line, do the following:
1. Find three consecutive pivots, sometimes referred to as turns or ends of Elliott waves.
2. Label the pivots A, B and C.
3. Draw a line between point B and C and label the midpoint of that line D.
4. Draw a line from point A through point D.
You have now drawn a median line. According to Alan Andrews, prices make the median line 80% of the time. It is not unusual for prices to reverse upon meeting the line.