Software for Elliott wave analysis

Discussion in 'Trading Software' started by rrs456, Aug 12, 2002.

  1. rrs456


    There are two software packages available for Elliott wave analysis: 1) Advanced GET and 2)Dynamic Trader from Robert Miner. I am interested in hearing from the users their opinion of these two software packages, especially i) ease of installation and use ii) stability iii) real world performance in terms of accuracy of their signals and forecasts and iv) customer support. I am most grateful to all of you for your replies.

  2. alain


    there is another software called "elwave"

    but I have never used any of those softwares.
  3. I use Advanced GET for Elliott. Setting it up was no problem at all. I am using the eSignal version. I think it does a good job of counting. I traded Elliott for some time without software to do the counting. After having the computer do it, I would never go back. It's important to verify the softwares count. Even with the counting being done for you, you need to know the rules and guidelines of Elliott. If a rule or guidline gets hit the count will change. It's important to have a plan if that happens.
  4. Chuck_T

    Chuck_T eSignal

  5. "Best" software (especially when it comes to S&C's software reviews) doesn't mean it'll help you make a dime.

    You've got to go some just to buy into EWs in the first place. Especially when even those using them warn you that you can't just trust the computer's "count" and many of the gurus on the subject never seem to get the wrong prediction by using EWs - they're predictions are often wrong but it's never the EW principle that's flawed it was just that they "had their wave count wrong". They often then continue to be wrong, right up until it's all over and then they magically have the right wave count and once again EW was right on - ain't hindsight wonderful?

    In fact EWs are absolutely amazing in their hindsight (the thousands of possible counts can always be ultimately fit to any price curve), but so often fall short of any real predictive power.

    That all of the EW software out there have to compute and then compare thousands of potential "wave counts" and then guess at which is probably the "best" count, that two pieces of software can easily and regularly do produce different "best" counts, and that the "best" count can suddenly be completely different on the next bar should at least raise some questions.
  6. Elliott theory is an excellent approach, but why don't you try writing your own program and (above all) modifying (expanding, generalizing, specializing, whatever you feel might give you an edge) existing theories? I believe this is where emotion should be a part of trading. It's the only advantage you really have against computers.