[ Pobierz całość w formacie PDF ]
.Be careful, not all theexplorations have such filters!There are explorations for all sensitivities such as AO Elliott WavesExplorations.With those Explorations most filters have been removed so we willget a list of all the securities we are scanning with all the wave data relatedto them whether an impulse wave or a corrective wave.Although they areprovided, we don’t need to run them on a daily basis because without a filterwe will have to analyse a lot of data and securities before finding thevaluable candidates.Some explorations such as AO Elliott Waves Normal (I) havefilters and will display only impulsive waves.Check the text in theexploration box to see the exact purpose of an exploration and details on thereport columns.Under the columns Bull and Bear, we see the wave number and where a 6 refers toa C wave.For waves A or B, the labels 1 and 2 respectively are used.Foranalytical purposes, a wave one is usually difficult to trade, as we haveneither guideline for its end nor any price projection other than a speculativereference to the previous pattern.Some will run long and powerful others willrun short.Elliott Wave analysts usually trade waves 3, 5 and C; waves 2, 4 andB are used to time entries or exits.Note that a different wave count couldappear under both Bull and Bear column.The highest count is the prime whilethe lowest is the alternate (Fallback position) when the wave fails.Thealternate count disappears when the threshold confirming the prime count waveis crossed.Test: Alternate count cannot be more than a wave 2; can you figure out why?Remember that the alternate count is valuable information.Some explorationsare very slow to run as they indirectly call on indicators that are not part ofthe exploration.In the note box of the exploration, there is an indication ofthe execution speed.All the ones starting with “AO” are usually faster.Explorations like RSI Trend Violation and Trendline Violation will give you alist of the securities where the RSI or the price has penetrated the trendline.These signals will last for only a few days to avoid listing securitiesthat are too far along the new trend.TIP: A useful tip is to sort the results by bars so we look first at the mostrecent additions to the list.It enables us to focus on the freshopportunities.If we open our charts from The Explorer™ window, the defaulttemplate will normally appear instead of the specific template that would fitthe exploration.There is a way to overcome this by simply calling thetemplates we installed earlier.This action will open a chart in addition tothe smart chart.I would also recommend applying to this chart, thecorresponding AO ZZ indicator to ascertain that it is still moving in theproper direction.It is a lot easier to see how the waves are counted when wehave the indicator in front of us.Use the AO ZZ to see Zig Zag from high tolow!Special ExplorationHave you ever entered a trade, based on the signal that your favoriteexploration gave, to find out that the last bar on your chart is not yesterdaybut the day before yesterday? That yesterday was a tremendous rally and todayis the correction? Even the best quote providers have their lapses and nomatter how keen you are at updating your database, errors will find their wayin.The only way to catch such an error is to look for it by comparing the lastdate in to the date that should be in; as MetaStock® does not have a currentsystem date function, you must provide it.AlphOmega uses an indicator variable to screen securities that were not updatedin the last download.The use of this variable is coded to one exploration butcould be added to any.The requirement to use this variable is a daily updateof AO GDate so that when the explorer is scanning, it finds the correct lastdate to be validated
[ Pobierz całość w formacie PDF ]