www.for-exe.com
  • Home
  • eWavesHarmonics
  • INDICATORS
    • MT4 Indicators
    • MT4 Free Indicators & Scripts
    • eWaves v1.0 Manual
    • MT5 Indicators
  • Trade Tools
    • Advanced Trade Manager
    • Advanced News Trader
    • Trade Copier
  • Trader Training
  • Harmonics
    • TheHarmonicIndi
    • TheHarmonicIndi Instructions
    • Harmonic Chart Pictures
    • Harmonic Patterns
  • Trading Blog
  • Contact Us
  • Who is Snorm
  • Q&A
  • Trading Services
  • Useful Links
  • MT4 TIPS and TRICKS
  • Newsletter
  • MetaTrader Wingdings
  • Fibonacci Numbers
  • Privacy Policy
  • Terms of Use and Disclaimer

Find the end of one major wave and the start of another with the Wave 5 in Wave 5 in Wave 5

27/8/2021

2 Comments

 
Picture
A very nice chap, by the name of Shola, made contact a few weeks back, asking me for some custom options on the Wave Finder indicator, which I duly coded for him.  Shola’s focus is on looking for a combination of Wave 5s (and P5s) to identify high probability turning points in significant swings. In a recent email he says: “I like the 555 pattern because of its high risk to reward ratio and it is worth waiting for the setup to develop and then trade it.  if the 1st attempt to reverse fails, the second break in structure hardly fails. “

I’m always very happy to hear from someone with a very sound, tried and tested, approach to technical analysis: looking for the 5th wave in the 5th wave in the 5th wave is indeed a good example of such. This is particularly so when looking for the end of a correction on a higher timeframe - the C wave in an ABC zigzag comprises 5 waves, for example.  It’s nothing new or ground-breaking: Ralph Nelson Elliott identified the merits of this many decades ago, after studying 75 years of stock market data; a tough task in those days, without the powerful computers that we have readily available today.

I’ll never claim that the Wave Finder is the perfect alternative to Elliott Wave analysis by the expert human eye, but there are times when it just happens to be spot on.  However, whether it’s true Elliott Wave or not doesn’t really matter, at least for our purposes: we’re using the tool as it is for smart trading and a combination of the eWave 5s, across multiple timeframes.

If you’d like to see some examples of the 555 in action, there are some super ones in this short YouTube video, along with a recent example of a 12R:R trade using one feature of the tool.
​
The Wave Finder indicator is an optional add-on, for owners of eWavesHarmonics – a worthy addition to any smart trader’s toolset.
 

2 Comments

Advanced Trade Manager for MT5

7/8/2021

0 Comments

 
Picture
It's taken a lot longer than I planned but the Advanced Trade Manager (ATM) for MT5 is now available.

ATM for MT5 has all the many clever features, of the MT4 version, for speedy trade execution and management, plus the ability to automate your trading and manage trailing stops using your favourite (compatible) indicator.  The only thing I have yet to do is convert the free add-on tools that come with the MT4 version - I'll get around to that in due course.

As it's an early release, I'm including two extra years on the licence for no extra charge, for the month of August only.

See the ATM page to view all the details.  Just specify "MT5 version" in the Special Instructions, when placing your order.

As for the MT5 version of eWavesHarmonics: that's still very much a work in progress but will be released as soon as possible.


0 Comments
    Subscribe to Newsletter

    Archives

    March 2023
    February 2023
    January 2023
    December 2022
    October 2022
    September 2022
    August 2022
    July 2022
    June 2022
    May 2022
    March 2022
    February 2022
    January 2022
    December 2021
    November 2021
    October 2021
    August 2021
    July 2021
    May 2021
    March 2021
    February 2021
    January 2021
    December 2020
    November 2020
    September 2020
    August 2020
    July 2020
    June 2020
    May 2020
    April 2020
    March 2020
    February 2020
    December 2019
    November 2019
    October 2019
    September 2019
    August 2019
    July 2019
    June 2019
    April 2019
    March 2019
    February 2019
    January 2019
    December 2018
    November 2018
    October 2018
    September 2018
    August 2018
    July 2018
    June 2018
    May 2018
    April 2018
    March 2018
    February 2018
    January 2018
    December 2017
    November 2017
    October 2017
    September 2017
    July 2017
    June 2017
    May 2017
    April 2017
    March 2017
    January 2017
    December 2016
    November 2016
    October 2016
    September 2016
    August 2016
    July 2016
    June 2016
    May 2016
    April 2016
    March 2016
    February 2016
    January 2016
    December 2015
    November 2015
    October 2015
    August 2015
    May 2015
    April 2015
    March 2015
    February 2015
    January 2015
    December 2014
    November 2014
    October 2014
    August 2014
    July 2014
    June 2014
    May 2014
    April 2014
    February 2014
    January 2014
    December 2013
    November 2013
    October 2013
    September 2013

    RSS Feed

Website design by Snorm
Subscribe to Newsletter
  • Home
  • eWavesHarmonics
  • INDICATORS
    • MT4 Indicators
    • MT4 Free Indicators & Scripts
    • eWaves v1.0 Manual
    • MT5 Indicators
  • Trade Tools
    • Advanced Trade Manager
    • Advanced News Trader
    • Trade Copier
  • Trader Training
  • Harmonics
    • TheHarmonicIndi
    • TheHarmonicIndi Instructions
    • Harmonic Chart Pictures
    • Harmonic Patterns
  • Trading Blog
  • Contact Us
  • Who is Snorm
  • Q&A
  • Trading Services
  • Useful Links
  • MT4 TIPS and TRICKS
  • Newsletter
  • MetaTrader Wingdings
  • Fibonacci Numbers
  • Privacy Policy
  • Terms of Use and Disclaimer