| tedstarr2 |
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Gold User, Member, Platinum User, TeleChart
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| Tuesday, July 12, 2005 |
| Wednesday, August 20, 2008 6:47:42 PM |
6
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I'll give this a try. Thanks!
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As part of my weekly Index and Sector analysis, I look at the weekly chart and compare the weekly close with the 26-week EMA on the weekly chart. I created a PCF that I thought would give me the weekly EMA value, then I have a PCF that takes the current price and compare that to the computed weekly EMA. PRoblem is that the computation I have, which I pulled from some documentation on the web, doesn't give the same value as one sees in the 26 Week EMA displayed on the weekly chart. Since I'd like to automate the process so that I simply get the results displayed visually, I was wondering if anyone could tell me if there is a problem in my equation or if there is something else going on. Here is what I'm using for the computation of 26-week EMA in the PCF -
0.085654746939 * C + 0.079309950869 * C5 + 0.073435139694 * C10 + 0.067995499716 * C15 + 0.062958796034 * C20 + 0.058295181513 * C25 + 0.053977019919 * C30 + 0.049978722147 * C35 + 0.046276594581 * C40 + 0.042848698686 * C45 + 0.039674721006 * C50 + 0.036735852783 * C55 + 0.034014678503 * C60 + 0.031495072688 * C65 + 0.029162104340 * C70 + 0.027001948463 * C75 + 0.025001804133 * C80 + 0.023149818641 * C85 + 0.021435017261 * C90 + 0.019847238204 * C95 + 0.018377072411 * C100 + 0.017015807788 * C105 + 0.015755377582 * C110 + 0.014588312576 * C115 + 0.013507696829 * C120 + 0.012507126694 * C125
I actually added digits, thinking it was a precision problem in the coefficients, but couldn't test it because the Test function on the PCF only shows up to 2 decimal places. Any ideas greatly appreciated. Thanks!
- Ted
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I have just gone back to filling in the initial spreadsheet to get my bearings. I haven't religiously followed his approach, but have tried to take the multiple time frame approach in stock selection, then purchased ITM options on those stocks. Pretty successful this year, but I gave some of it back when the energy sector tanked a couple of months ago. I've tried to open up the gates a bit on his money management approach using options, but I have found it difficult to put together consistent rules that work. I had some great runups in the oil sector, then jumped back in too soon on the way down and took a couple of losses and gave a significant chunk of it back. Still learning...
But I can say that I've done better this year than I have in previous years, so I can't complain TOO much.
On the money management, Alex DID say that MM was probably the most important part, so it looks as if you might have confirmed that! 
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Trader Bill,
I believe I went to the same seminar (in Washington?). I did put together a couple of watchlists for the Indexes and Industry Groups, then a couple of PCFs to show the weekly check parameters. On Saturday, I'm then at least partially there. I'd like to automate the spreadsheet so that it could pull from the TC2000 database and automate the process, but haven't taken the time to get the development kit and do it.
Before posting, you might want to check with Dr. Elder. He may consider the spreadsheet proprietary.
- Ted
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rmr1976,
Thanks for the insight. I have attended several of these seminars where they use AdvancedGet or ProfitSource and basically look for Wave 4 Buys or Wave 5 Sells and get into trades that way. It seems way too simplistic for me, and going to multiple seminars I've taken down their trades that they found through the tool. The track record hasn't been particularly good - the main reason I haven't plunked down $2500 or so for their software.
Plus, I wondered why we were avoiding the Wave 3 stretch, which was often long and strong, giving you the best opportunity for making money.
Anyway, thanks for the observations.
- Ted
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I was interested in the same thing - is there a search or a package available to work with TC2005 to scan for Elliott Wave Count? I have been to a number of seminars touting software packages (which are pretty darned expensive), which primarily show you stocks which are in Wave 4 or 5, since these folks advocate only buying in those waves. In any case, I'd be interested in a way to duplicate that capability with a PCF or something else within TC2005. I'm still new to TeleChart, having just signed up for the 30 day trial, but am very impressed. Any help/guidance greatly appreciated.
- Ted
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