elliot waves using fibs applet

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    ElliotWave



    This applet is a tool for determining the dimensions, in terms of
    Fibonacci levels, of an Elliot wave. To use the applet, click and drag the
    mouse from the bottom left-hand corner (A) to place the peak (B) at the level
    and time line required. The retracement line (B-C) is automatically generated
    to provide a time line ratio of 0.618 to 0.382 from the bottom of the
    retracement (C). The vertical distance, from the peak to the bottom of the
    retracement, is 0.382 of the vertical height of the peak from the base of the
    upward trend line, as shown in the diagram below.



    src="Fibonac_files/image002.jpg" v:shapes="_x0000_i1026">



    Figure 1          class=GramE>The dimensions of the automatically generated retracement
    line



    After completing the placement of the first trend and retracement lines,
    place the mouse cursor at point C shown in Figure 1 and repeat the process.
    Continue doing this until all trend and retracement lines have been completed.
    Figure 2 shows a completed Elliot wave. During the process of placing the
    lines, Fibonacci level lines will automatically be drawn to assist in the
    placing of the next peak (point B shown in Figure 1). In addition, the
    coordinates of the base of the retracement line (point C) will automatically be
    provided.



    src="Fibonac_files/image003.jpg" v:shapes="_x0000_i1027">



    Figure 2          A completed
    Elliot wave



    If a new graph is required, click once with the mouse and then release whilst
    on the canvas. This will clear the canvas allowing you to start again. If an
    overlay drawing is required for comparison purposes, continue with the new
    drawing without clicking on the canvas. Two or more diagrams may be formed
    using this method.











    For your comments and suggestions, mail the author: href="mailto:[email protected]">A.A.R.Townsend



    Return to Applets page.








 
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