Stocks & Commodities V. 26:7 (64-66): Product Review: Elwave 9 by Dennis D. Peterson
Product Description
Product Review: Elwave 9 by Dennis D. Peterson
PROGNOSIS SOFTWARE DEVELOPMENT
The latest release of ELWAVE incorporates some new features that make it a stronger product. The user now has the flexibility to choose between C# and VB to encode analysis techniques into indicators so you can see how Elliott wave analysis either confirms or diverges from your indicator. The editor comes complete with syntax highlighting, keyword/function/ variable name completion, parameter information tool tips — in short, a professional- level code editor.
But before examining more Elwave software features, let’s talk about Elliott wave analysis for a moment. Many of you have probably picked up a book on Elliott wave analysis and scanned the pages. When you see the price chart examples, the theory looks enticing. And after all, what any technician is trying to do is understand market behavior — that is, human trading behavior — and Elliott wave analysis is just that. Unfortunately, with some markets being traded with computer driven algorithms, it is almost problematic to find the human behavior– driven market.
To compound the problem of finding the best market, there are Elliott wave experts who give different wave counts for the same price data.
PROGNOSIS SOFTWARE DEVELOPMENT
The latest release of ELWAVE incorporates some new features that make it a stronger product. The user now has the flexibility to choose between C# and VB to encode analysis techniques into indicators so you can see how Elliott wave analysis either confirms or diverges from your indicator. The editor comes complete with syntax highlighting, keyword/function/ variable name completion, parameter information tool tips — in short, a professional- level code editor.
But before examining more Elwave software features, let’s talk about Elliott wave analysis for a moment. Many of you have probably picked up a book on Elliott wave analysis and scanned the pages. When you see the price chart examples, the theory looks enticing. And after all, what any technician is trying to do is understand market behavior — that is, human trading behavior — and Elliott wave analysis is just that. Unfortunately, with some markets being traded with computer driven algorithms, it is almost problematic to find the human behavior– driven market.
To compound the problem of finding the best market, there are Elliott wave experts who give different wave counts for the same price data.
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