Wave Channels

[silverxx12]

Hi all,

Can anyone tell me what is really used to calculate the 3 wave channels also known to some as train tracks.Are they some sort of gann angle from the previous pivot ,anything to to do woth a fib.retracement / time or is it just a formula? 10

[MR]

I have worked since the beginning for the company that developed the Wave 4 Channels and I have yet to figure out the exact algrithym behind this 'proprietary' tool. At times I think it is a moving average relationship, at times I wonder about other ideas. The truth is we can only speculate. I personally think it is a very complex calculation that looks simplistic, like a cut off moving average. To me it really doesn't matter what it is, so long as the logic and rules behind it work. It does serve as a good guide for Wave 4 pullbacks, Type 1 setups.

Click here to see a more detailed W4 Channel overview

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If the Wave 4 retracement holds above the Wave 4 Channels the odds for a strong second attempt is high.
If the Wave 4 retracement breaks below the Wave 4 Channels the odds for a strong second attempt is very low.

If the Wave 4 retracement holds above the first channel (displayed in Blue)
the statistical odds are better than 80% we will see a strong Wave 5 rally.

If the Wave 4 retracement holds above the second channel (displayed in Green)
there are only 60% statistical odds we will see a strong Wave 5 rally.

If the Wave 4 retracement holds above the third channel (displayed in Red)
is a final stop because once this channel is broken odds for a new high in
a Wave 5 is low. The very few times a 5th wave is generated after breaking the
Red channel, a return to the previous trend becomes a tedious, slow and drawn
out process which literally eats out your patience and option.

[gregg1]

Mark is there any evidence supporting that if the price retraces to touch the blue "RR track" the odds are better for the wave 5 to complete normally. Or in other words is that scenario important regarding a successful type 1 trade set-up

Gregg

[fabrizio]

silverxx12

I humbly suggest to be part of the Marcus group AND take a look at the very clear PDF lessons are posted in his group divide by Topics.

Furthermore since we are dealing with money and not candies , take some times for yourself and your AGET culture going through the good manual you have been provided with.
IE page T22 is talking about Wave Four Channels and their Significance.

But IMHO the WHOLE manual should be read ( and studied) as well as the Marcus Lessons , since when you trade you do not have a PersoalTrainer like MARCUS always close to you to answer in a flash..........

[salska]

Hi,

I trade intra-day using the AGET tools and find the trend channels are routinely broken by the price action. I often find that the price proceeds beyond these markers in time or price or both. The Oscillators often provide mixed signals.

I believe the likelihood of failure is high and what appears to be a wave 4 often morphs into an ABC with a new 5 waves in the direction of our assumed wave 4.

I think what is critical when we provide usage examples is to explain how to detect failure conditions and a strategy for handling these at the earliest possible stage.

The best trading tool for scalpers has to be XTL, DMA and Regression Channels. It's a no-brainer with simple money management rules. The Type 1 and Type 2 trades are not as reliable as they appear. However, if you apply XTL you will probably catch these anyway as these studies are the building blocks of the orginal trade entry idea for the Type 1 and Type 2.

I find the EW Counting tool helpful on overall direction, but not a good basis for entering trades. Just my own experience of a couple of weeks using the toolsets.

No doubt others will relate to different tools according to their style and approach to trading.

[fabrizio]

Salska

I trade intra-day using the AGET tools and find the trend channels are routinely broken by the price action. I often find that the price proceeds beyond these markers in time or price or both. The Oscillators often provide mixed signals

1)This is not completely true : It is functional to several factors.
a) Time Frame
b) Tyoe of security
c) Kind of EW counting
d) number of bars used
e) starting of the counting point

It is thus true that it is generally speaking more important a PTI > or < of 35 than the breaking of (n) number of channels in a Setup for a T 1 trade.

2) This is completely incorrect since the Oscillator is the core of the whole story. I do not mean to appear arrogant, but THE OSCILLATOR or better the analysis of all the Oscillators is undisputable and not detachable from the counting.

This is something that can be recognized along the time and the trading activity.

[salska]

Fabrizio,

I trade on the 1m, 3m, 5m, and 10m time frames on the Dow emini and nothing else. And my experience is that the EW counting and Oscillators can be very misleading as the waves morph or extend and hence confuse the oscillators. I am sure if one is patient, you may get larger time frame opportunities where these things align beautifully, but the reality for me is that more frequently the patterns are not so clear.

However, the XTL tools I find are more consistent and easier to interpret for trade entry and exit.

I would love to be wrong and your observations correct. As the objective is to use the tools properly. Thank you for your responses and dedication to these boards. You are a good member and my intention was not to ridicule the tools, simply to highlight my own experience.

As an example, take a look at the following:

http://forum.esignal.com/showthread.php?s=&threadid=4069

Regards,

Sal

[MR]

Sal,

Just an idea for you to play with.... try to incorporate TJ's Web Levels to those time frames you trade. Focus on the identifying where the neutral zone is. Two ways you can play with them, try an hourly Web, and try a daily web. click here to see Web PDF article, intraday examples at the end of article

There are more intraday ideas you may find interesting in this tread....Advanced Get for Daytrading

If you go back to the beginning of the tread you will find more details of interest to you. click here to see further back in that tread

I have recommended some ideas for improving the AdvancedGET Forum at eSignalCentral. If they are accepted and implimented I anticipate by October being able to help show you more examples how to use eSignal software W/AGET features more successfully. -marc

[fabrizio]

Sal

You know why I'm so "radical" ? For in my experience I'v seen many statement like yours - made in good faith indeed- from traders that did not studied extensively AGET.

So the best way - for your sake not for mine since I know what -ehmmm-I got in the hands - is to let the experience and the study show what should be shown.

At the present time I could spend 1000 words but you will always be of your opinion, right?

So I put myself on the side and let who is more able tahn me to let the evidence talk....

All my best for your Aget Education....

Fabrizio

[gedibella]

tj web levels, by mark rinehart

In reading Mark's 13 page discussion on TJ's Web he refers to creating the web on a higher level then "reissuing" this creation to a lower time frame. I do not know how to do this. Could you please provide a detailed step by step explanation of how to "reissue".? Thank you, gawdib

[fabrizio]

gedibella

In the meanwhile that Marcus is away, I Take the liberty to answer you.

Open your chart, than go to TF weekly.

From Advanced study insert TJ WEB.

By now leave it at "Automatic" setting

Than scale down to a lower TF , from daily to 1 min .

Done

You can even "issue" it on a Daily basis and than go down.

Note Below the Daily issuing the TJ WEB has no interest.

If you follow Marcus and this suggestions it is of an enormous help.

[MR]

Re: tj web levels, by mark rinehart

.

Originally posted by gedibella In reading Mark's 13 page discussion on TJ's Web he refers to creating the web on a higher level then "reissuing" this creation to a lower time frame. I do not know how to do this. Could you please provide a detailed step by step explanation of how to "reissue".? Thank you, gawdib

Hi! First, thank's Fabrizio! Whenever my spirits are low, your positive comments brighten the day. Thanks....

Re-issue means to take a chart issued on one time frame and then re-issue or change it to another time frame. Fabrizio explained it pretty well, but because I am a visual thinker, I created you a sample illustration of what re-issue means. Hope it helps.

[salska]

Marc,

many thanks for your helpful insights.

I've also been playing around with the AutoXTL study that Fab. posted somewhere, and that is a very interesting tool as it issues buy/sell/stop levels at appropriate time frames.

What I have been doing with this tool is using these signals at various time frames and looking for correlation.

An EFS study that could somehow provide a visual of these levels on a single chart would be very helpful. Does anyone have such a study?

Further, you can apply the same approach to other indices and look for further correlation to strengthen or weaken your trade idea.

Your feedback is much appreciated.

Sal