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Registered User
Joined: 2/5/2005
Posts: 38
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Hi,
According to your help file, The Elliot Oscillator is simply the difference of a 5-period simple moving average and a 34-period simple moving average displayed as a histogram that oscillates above/below a zero line.
That sounds exactly like MACD. But when I plot an MACD histogram indicator below the Elliot Wave oscillator, I cannot get them to match. I have the MACD set to 5, 34, ? (Average Type = Simple). What value of Trigger should I use to get them to match?
Thank you,
Greg
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Administration
Joined: 9/30/2004
Posts: 9,187
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Plot MACD (not MACD histogram) and set the short to 5 and the long to 34. Set the plot style to Histogram. This is different than a "MACD histogram" which plots the difference between the MACD line and its moving average.
Understanding MACD
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Registered User
Joined: 2/5/2005
Posts: 38
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I see, thank you StockGuy. Now the patterns look identical in frequency but not in amplitude. I see a peak on Elliot Wave that shows 2.35 but the same peak on MACD 5,34 shows only 1.58. I wonder why?
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Registered User
Joined: 2/5/2005
Posts: 38
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Oops. I had the MA set to exponential. Setting to simple produced the same peaks.
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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I am happy to read you were able to figure out the issue on your own.
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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Registered User
Joined: 2/11/2006
Posts: 3
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I followed the instructions here (MACD Short 5, Long 35, Average Type: Simple), but I'm still seeing small discrepancies in the values of the histograms.
Examples:
Date 7/13/2011
SPY: EWO: 2.44 vs. MACD: 2.48
QQQ: EWO: 1.98 vs. MACD: 1.99
GM: EWO: 1.05 vs. MACD: 1.07
Does anyone know why this is?
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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I would recheck your MACD settings.
I get 2.44 for both the EWO and Simple MACD 5,35 for SPY on 7/13/2011.
I get 1.98 for both the EWO and Simple MACD 5,35 for QQQ on 7/13/2011.
I get 1.05 for both the EWO and Simple MACD 5,35 for GM on 7/13/2011.
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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Registered User
Joined: 2/11/2006
Posts: 3
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I had my MACD Long set to 34, not 35, like the first three posts said. Setting it to 35 resolved the issue. Thanks. :)
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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You're welcome.
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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