ABC patterns

   Do you think it would be possible to write a scan on BC to find ABC patterns. This pattern being linked to Elliot Wave. I have mucked around for awhile but not been able to select any of the BC scan possibilities that worked to my satisfaction
I am basically looking for a correction where the price falls, corrects up a bit then falls down again. The first  fall and the second fall roughly being the same distance on a chart
I have tried % swings etc. 
I think perhaps its not possible

Author	Message / View First Unread Post Share Topic Printable Version Delicious Digg Facebook Furl Google Boomarks Google Buzz MySpace Newsvine reddit StumbleUpon Translate Twitter Windows Live Yahoo Bookmarks Topic Search Topic Options Post Reply Create New Topic
jalna Members Profile Send Private Message Find Members Posts Add to Buddy List Regular Joined: 31 Mar 2007 Posts: 95	Post Options Post Reply Quote jalna Report Post Quote Reply Topic: ABC patterns Posted: 22 Jun 2009 at 12:30pm
	Do you think it would be possible to write a scan on BC to find ABC patterns. This pattern being linked to Elliot Wave. I have mucked around for awhile but not been able to select any of the BC scan possibilities that worked to my satisfaction I am basically looking for a correction where the price falls, corrects up a bit then falls down again. The first fall and the second fall roughly being the same distance on a chart I have tried % swings etc. I think perhaps its not possible

maximo Members Profile Send Private Message Find Members Posts Add to Buddy List BullCharts Guru Joined: 02 Sep 2006 Location: Australia Posts: 232	Post Options Post Reply Quote maximo Report Post Quote Reply Posted: 23 Jun 2009 at 3:26am
	It would be tricky Jalna. Lets see.. you could use zig-zag indicator which uses percentages as it's swing amount. Save each previous swing amount% to say 3 variables. Awave, Bwave, Cwave. Then figure the values, parameters, comparisons that you want to scan for. If someone can post a chart with the lines on them of the wave type pattern you're looking for then I will attempt to write some code. Just flick through some charts with zig-zag set on 3-10% and post here. Actually I've been meaning to write a specialised triangle scan, so it would actually help me as well. Like /W pattern type rather than the resistance line with ascending support line. Edited by maximo - 23 Jun 2009 at 3:33am

jalna Members Profile Send Private Message Find Members Posts Add to Buddy List Regular Joined: 31 Mar 2007 Posts: 95	Post Options Post Reply Quote jalna Report Post Quote Reply Posted: 23 Jun 2009 at 9:33am
	HI Maximo, In a rush but WES could be making a good one at the moment if the price comes back down to $20 odd .I will try and work out how to post a chart later. Thanks for your reply.

maximo Members Profile Send Private Message Find Members Posts Add to Buddy List BullCharts Guru Joined: 02 Sep 2006 Location: Australia Posts: 232	Post Options Post Reply Quote maximo Report Post Quote Reply Posted: 24 Jun 2009 at 12:19am
	Okay that's a start. Just check from the image that is what you want to look for. In theory this should be simple... ie. 2 peaks or 2 troughs of say 5-10% within a set period. eg. last 50 bars. 3 peaks could make a head & shoulders version. Edited by maximo - 24 Jun 2009 at 12:32am

jalna Members Profile Send Private Message Find Members Posts Add to Buddy List Regular Joined: 31 Mar 2007 Posts: 95	Post Options Post Reply Quote jalna Report Post Quote Reply Posted: 24 Jun 2009 at 8:44am
	HI Maximo, here is a link to trading all these waves http://www.wavecounts.com/theory/advanced.asp?s=fxF7Mn09M4KL8Sl1Kp9i41TY8K49 In your chart the A-B should roughly be in proportion to length, to the C- say D Actually the waves are counted as the, A wld be where your B is and the B where the C is and end would be C ( in EW speak that is)

maximo Members Profile Send Private Message Find Members Posts Add to Buddy List BullCharts Guru Joined: 02 Sep 2006 Location: Australia Posts: 232	Post Options Post Reply Quote maximo Report Post Quote Reply Posted: 24 Jun 2009 at 7:41pm
	Thanks for posting that link Jalna. I have an updated pic, half from that site and WES relabled. Okay, it's my understanding that WES has not yet formed a valid C wave. According to unbreakable rule 3. it cannot be the shortest. Edited by maximo - 24 Jun 2009 at 7:45pm

jalna Members Profile Send Private Message Find Members Posts Add to Buddy List Regular Joined: 31 Mar 2007 Posts: 95	Post Options Post Reply Quote jalna Report Post Quote Reply Posted: 24 Jun 2009 at 7:57pm
	no those rules are for the waves. We are just looking at the ABC corrections within those waves. Damn all my stuff is on my MAC, not this PC. I will send myself an eamil Here is a simpler chart link http://stockcharts.com/school/doku.php?id=chart_school:market_analysis:elliott_wave_theory

jalna Members Profile Send Private Message Find Members Posts Add to Buddy List Regular Joined: 31 Mar 2007 Posts: 95	Post Options Post Reply Quote jalna Report Post Quote Reply Posted: 24 Jun 2009 at 8:11pm
	The ABC pattern on the WES chart is not in context of a big EW count, it was just an example of what an ABC pattern would look like ( i hasten to add )

maximo Members Profile Send Private Message Find Members Posts Add to Buddy List BullCharts Guru Joined: 02 Sep 2006 Location: Australia Posts: 232	Post Options Post Reply Quote maximo Report Post Quote Reply Posted: 25 Jun 2009 at 12:12am
	Can we define the context as being just a significant uptrend? I like to make things as simple as possible. Here's our index at the moment. It looks elliot wave'ish or contains an ABC pattern, but is it in context? I counted 5 waves up, but how consistent should it be? Anyway hoping these definitions wont give me too much of a headache haha. Edited by maximo - 25 Jun 2009 at 4:19am

jalna Members Profile Send Private Message Find Members Posts Add to Buddy List Regular Joined: 31 Mar 2007 Posts: 95	Post Options Post Reply Quote jalna Report Post Quote Reply Posted: 25 Jun 2009 at 8:42am
	hmm yes I suppose a significant uptrend, how significant ? We often get an ABC correction at the end of wave 1 while the correction at the end of wave 3 is often more of a triangle ( wave 4 ). At the end of wave 5 we get a big ABC down. The wave 1 ABC (wave2) is a good place to get in for the long wave 3. It is complicated, I will be amazed if its possible to code any ABC patterns yes there are 5 waves up on the index, some think we are in wave 4 in the down move and others think we have completed the ABC down. It gets even more complicated with running flats and so on