The Elliot Wave Oscillator – Amibroker AFL

0
1676

Elliott Wave theorysource :  prasadbrao.blogspot.in

The Elliott Wave theory is best trend trading style. This is working method for all markets.. Amibroker AFL Oscillator is essentially a MACD Histogram or more precisely a 34-period simple moving average subtracted from a 5-period simple moving average.

It can be applied in all timeframes and works very well with the Triple Trend approach of using three time frames: the long-term, the medium-term and short-term.

The key is to ensure you use between 100 and 150 bars, with 120 bars generally providing the most consistent results.

This oscillator produces a strong correlation with patterns of the Elliot wave. The key take away when using the EWO is that the strongest readings will show you where the 3rd wave lands on the chart.

The EWO will work in all time frames but it is recommended you have a large enough sample of price for the oscillator to work effectively.

Formula

SHARE

LEAVE A REPLY