Home > Doc > AlphOmega Elliott Waves 5.5 > Appendix 2

AlphOmega Elliott Waves 5.5

Appendix 2

AO PW2 (All Sens.), AO PW3 (All Sens.), AO PW4 (All Sens.), AO PW5 (All Sens.), AO PWC (All Sens.): These indicators are the wave definitions for price projection. They are providing information for other indicators and as such do not display information. However they calculate variables that can be used in formulas. “P1…” are variables that represent the price projection possibilities for each wave. They vary according to the wave number. “W1…” is another array that measures the price move of a wave. Hence you can compute percents or other formulas from these variables. When you program the calls for these variables, the function button will list all that are available so you will know if there are four or five projections available and what wave are measured. For example, if you see “W13” it refers to wave 1 to 3 price movement (The sum of all but keeping in mind the direction of the move measured).

AO Time Projection W2, AO Time Projection W3, AO Time Projection W4, AO Time Projection W5, and AO Time Projection WC: These indicators are similar to the Price Projection above. They work the same way with the same inputs. What they will plot is a solid line at the number of bars the wave is expected to end. Used against the bar chart of bars since the wave started, it will suit your needs to know when. You can select the data array for the waves to align your indicator to the expert used.

AO TW2 (All Sens.), AO TW3 (All Sens.), AO TW4 (All Sens.), AO TW5 (All Sens.), AO TWC (All Sens.): These indicators are the wave definitions for time projections. They are similar to the PW series above and provide information on time (duration) to other indicators. The variables are “T1…” and represent time projection that can be used like the price projection above. The “W1…” are expressed in bar move instead of price.

AO Vertical Line: Used to display a vertical line on the chart. Plot as no scale and as a histogram in Price window. Useful to point to a particular bar on the chart, like an entry date or the extremes of a cycle, it will plot for the date you will input.

AO Wave 4 Failing (All Sens.): This binary indicator will flag a wave 4 that retraces in the price zone of wave 1. This is not against an Elliott rule but rather uncommon and often the prelude to a wave failure. The wave 4 turns into an impulse of opposite direction from the previous trend.

AO Wave Performance Monitor: Similar to AlphOmega Rate of Impulse it computes the percent progress against the past peak or trough after you input the sensitivity. It does not have a variable and can only be used for display purposes. If the function is undefined, it will display 0.

AO Wave Price Projection (All Sens.): These indicators are automatic price projection displaying the projection for the latest wave detected. They do not work backwards. They call their variables from other indicators so that if you use these variables, being second hand, your system will be very slow. These projections are more detailed than the AlphOmega Highlighter but do not factor in the rule of alternance and similarity, hence the lack of discrimination in the projections presented.

AO Wave Three Rule (All Sens.): This particular indicator is used internally by the expert to flag a wave three that is shorter than the wave one. It triggers a light gray display for waves 3 and 4. A different version is used in explorations and systems as these modules do not allow as much formula space.

AO Wave Time Projection (All Sens.): They are the same as Wave Price Projection but applied to time projections.

AO Weekly Support and Resistance: Uses beginning of week data to plot support and resistance level using the highest and lowest of the previous week.

AO Weekly Histogram: Plots a histogram that increments weekly from the input date. This indicator is to be used in charts that are daily or shorter, the idea being to be able to see both time frames on the same chart.

AO XTL-Ag: Extended trend indicator. This indicator is based on the Commodities Channel Index and it points to an established trend, bullish or bearish, or to the absence of trend.

AO ZZ: Core indicator that plots Elliott’s zigzag to be used for waves. This indicator uses the high or low of the bar, accounting for inside or outside bars, the zigzag running from the low to the high and high to low. Please note that all indicators in dark red do not plot a graph. They provide information to other indicators and their variables can be used in formula design. Some indicators can be used in explorations or systems while others will only plot if there is an input from the user, such as dates. Many times, you can overcome the input problem by removing the input function and substituting a fixed value, usually the coded default. Before interpreting the resulting information, you should document yourself on Fibonacci and Gann theories. Although the goal is always to forecast a turn point, there are rules to be followed when using these tools. Some circumstances may invalidate the result of the plot.

Next: Appendix 3

Summary: Index