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Neowave and Glenn Neely

  • #101
  • Sep 8, 2009 1:21pm Sep 8, 2009 1:21pm
Quoting seenuvas86
@ Sareika

Hai this is seenu. I am using Metastock 10.1.

how to identify the mono wave.

Whether it is high divided by low multiply by 2 ?

or any other ????

Kindly let me know ... slightly even more better...
Hi seenu. For monowave construction i use periods of time. I select fixed number of bars which will form one period, for example 10, 12, 16, 24 bars or you simply can choose one day as a period or 4, 8, 12 hours and then you count how many bars will be in your period - for 12 hour period you'll have 12 bars if working on H1 timeframe; 24 if choosing lower timeframe m30 and so on.

When period is set, it's time to search form extreme price swings within that period as in attached picture: search for extreme low and high within period, mark them and use method shown in picture - move first extreme price point (which occured first) to the far side of the period and second extreme price point move to the center of the period; next connect those two points with straight line and you got first segment of the monowave.
Do the same with the second period and you'll get second segment.
Finally you connect those two segment with the third in order to get continuous sequence of segments.
Remember that monowave is number of segment from one price change till another. In picture first monowave will consist of only one segment (1 segment) and the second one will have two segments, because 3rd and 2nd segments move in the same direction.

Hope you got the idea. If not, please dont hesitate to ask.
Attached Image (click to enlarge)
Click to Enlarge Name: monowaves.JPG Size: 27 KB
EWI: Best way to master it is to teach it
  • #102
  • Sep 8, 2009 1:26pm Sep 8, 2009 1:26pm
Seenu are you seriously interested in Neely's approach and his book Mastering Elliott Wave?
EWI: Best way to master it is to teach it
  • #103
  • Sep 9, 2009 1:41am Sep 9, 2009 1:41am
@ Sareika

thank u for reply...

i have query about ur chart.

Asper ur explanation monowave like my attachment 1.

@ attachment 2

In the segment 2, 1st swing is "A", 2nd swing is "B" and 3rd is "C".
How u are marking "B" as a first swing in 2nd segment. I m slightly got strukup in that zone.

i m reading Mastering Elliott Wave by Neely.( almost completed except chapter 3 )
Attached Images
  • #104
  • Sep 9, 2009 6:42am Sep 9, 2009 6:42am
Sorry for confusing You. First you build periods (set number of bars). Then you search for lowest and highest price points within that period and mark them as in my picture. When searching period you go from left to right, if you find that period LOW occured first you mark that price level and move it over the marginal bar of the period. Same things when period HIGH was found first.
Second extreme price level in period should be put over the middle bar of the period. To get things more clear take a look at my pics. PUT 1ST EXTREME LEVEL OVER MARGINAL BAR, PUT 2ND EXTREME LEVEL OVER MIDDLE BAR, CONNECT THEM, MAKE THE SAME EITH THE NEXT PERIOD.

monowave lasts from one segments change in direction (from up to down or vice versa) to next segments change in direction (from down to up or vice versa).

Please dont hesitate to ask. Neely is extremely difficult, so its normal to get confused
Attached Image (click to enlarge)
Click to Enlarge Name: monowaves 2.gif Size: 24 KB
EWI: Best way to master it is to teach it
  • #105
  • Sep 10, 2009 1:42am Sep 10, 2009 1:42am
@ Sareika

thank u for ur reply Sareika.....

u have take 24 bar in one period. its correct?

which software u r using?

Can u explain something about " Time analysis " in Neely method...


GBP/USD charts
Attached Image (click to enlarge)
Click to Enlarge Name: USDGBP M.png Size: 17 KB
  • #106
  • Sep 12, 2009 12:07am Sep 12, 2009 12:07am
Sareika, I tried to PM you but your PMs are off.


I'm a neely trader and would like to share information and thoughts on NEoWave between us.

Could you active your Private messages so that I may give you my SKYPE?
  • #107
  • Sep 12, 2009 9:14am Sep 12, 2009 9:14am
Quoting seenuvas86
@ Sareika

thank u for ur reply Sareika.....

u have take 24 bar in one period. its correct?

which software u r using?

Can u explain something about " Time analysis " in Neely method...


GBP/USD charts
Sorry seenuvas86 i dont know much about time analysis when trading Neely's method. At the moment i use period of 10 bars on each timeframe m15, H1, H4 i trade. periods are variable, you can and must change them after the unfolding situation on the market for confirmation or denial of your assumptions. Lately i tried to use 24, 15 and 12 bars in period for all timeframes - i think it is to long, because a lot of small waves of patterns become invisible. For the meantime i studied only 8 chapters of Mastering Elliott Wave. In chapter 12 Neely talks about changing the number of data points one use in period building process, try to read that chapter, as i remember its somwhere on pages 12-40/44. I use only Metatrader 4 for my analysis. PM me and i'll send you a link to download an indicator which builds monowaves.
Dont hesitate to ask Questions.
EWI: Best way to master it is to teach it
  • #108
  • Sep 14, 2009 12:51am Sep 14, 2009 12:51am
@ sareika


thank u for ur reply,

Could you tell something about " Diametric Pattern"

Now i made count on sensex " Diametric Pattern "

Could u send me then link for monowave identify indicator.

hw to activate my Private Message,

I dont know, about PM
  • #109
  • Sep 14, 2009 2:23am Sep 14, 2009 2:23am
Quoting seenuvas86
@ sareika


thank u for ur reply,

Could you tell something about " Diametric Pattern"

Now i made count on sensex " Diametric Pattern "

Could u send me then link for monowave identify indicator.

hw to activate my Private Message,

I dont know, about PM
Sorry about diametric i am unfamiliar with them.
I mastered only basic Neely patterns.
About PM. Click on your account name left of the digital FF clock, search through the control panel on the left-hand corner of the screen, try to find option "enable personal messaging" or "Enable PM" or smth like this, save options then ill send you a link to get indicator.
EWI: Best way to master it is to teach it
  • #110
  • Sep 16, 2009 11:18pm Sep 16, 2009 11:18pm
@ Sareika

thank u for ur reply..

I tried many times. i cant able to active my PM.

If i click the PM is my control panel, it shows u r a junior member, u can't send PM.

MEW by Glen Neely book, 3 rd chapter is very difficult.

I didn't understand,

Could u tell me something about 3rd chapter...

and one morething, u r using Metatrader 4 right, what is the cost of Metatrader....

i m using Metastock, in that i can't get any indicator like identifying monowave...

once again thanks
  • #111
  • Sep 17, 2009 12:57am Sep 17, 2009 12:57am
Quoting seenuvas86
MEW by Glen Neely book, 3 rd chapter is very difficult.
DONT STOP STUDYING!
EWI: Best way to master it is to teach it
  • #112
  • Sep 17, 2009 1:12am Sep 17, 2009 1:12am
Quote
I tried many times. i cant able to active my PM.

If i click the PM is my control panel, it shows u r a junior member, u can't send PM.
That is right while still a junior you cant send PMs. Try to contact site (Forex Factory) administration to ask how to speed up the full membership activation process.

Quote
MEW by Glen Neely book, 3 rd chapter is very difficult.

I didn't understand,

Could u tell me something about 3rd chapter...
Its the core element if trading using Neely's method. READ IT. Go further into the book and 3rd chapter will become more clear. Its a bunch of rules which you'll use in your analysis: building monowaves, retracement rules, reassessing patterns. BEST WAY TO KNOW IS TO ASK. Try it:-) It will take weeks to explain everything about 3rd chapter. best way we can go further is through Questions and answers. Dont hesitate to do it.

Quote
and one morething, u r using Metatrader 4 right, what is the cost of Metatrader....

i m using Metastock, in that i can't get any indicator like identifying monowave...
Meta trader is completely free. Just find a brokerage firm which supplies with that software or simply serach for it in google.com

Leave your email right here, i'll send you an indicator. BUT 1ST you must show me you know how to build monowave segments manually. Try to attach monowaves you built, ill check them
EWI: Best way to master it is to teach it
  • #113
  • Sep 17, 2009 11:03am Sep 17, 2009 11:03am
Skip chapter 3 and finish the rest. Then come back to Chapter 3 and you'll understand it more.

The whole book is very disorganized, but a very good book.

My skype SN is the same as my Forexfactory handle.

Both S and me are on Skype.

-Waveace :-D
  • #114
  • Sep 18, 2009 3:25am Sep 18, 2009 3:25am
@ Sareika

thank u for ur reply ...

i have attached mono wave chart below.

Pls check the chart.. ( each and every points )

Query:

i) If we take a monowave time period 13 and divided the 13 time period by 2. We can get 2 segment in that time period. Either each segement we need one point, but sometimes in one segment both points are coming, Is it right.
Attached Image (click to enlarge)
Click to Enlarge Name: monowave.png Size: 18 KB
  • #115
  • Sep 18, 2009 3:29am Sep 18, 2009 3:29am
@ Sareika

Quote:

Meta trader is completely free. Just find a brokerage firm which supplies with that software or simply serach for it in google.com

Leave your email right here, i'll send you an indicator. BUT 1ST you must show me you know how to build monowave segments manually. Try to attach monowaves you built, ill check them


Ans:

could u send the indicater ( Mono Wave ). My contact id is [email protected].
  • #116
  • Sep 18, 2009 3:32am Sep 18, 2009 3:32am
Quoting s3padrian
Skip chapter 3 and finish the rest. Then come back to Chapter 3 and you'll understand it more.

The whole book is very disorganized, but a very good book.

My skype SN is the same as my Forexfactory handle.

Both S and me are on Skype.

-Waveace :-D
thank u for ur reply.

i am also studying other chapter expect 3.

now i will study chapter 3 with the help of your guidence..
  • #117
  • Sep 18, 2009 6:37am Sep 18, 2009 6:37am
Quoting seenuvas86
@ Sareika

thank u for ur reply ...

i have attached mono wave chart below.

Pls check the chart.. ( each and every points )

Query:

i) If we take a monowave time period 13 and divided the 13 time period by 2. We can get 2 segment in that time period. Either each segement we need one point, but sometimes in one segment both points are coming, Is it right.
REVISED monowaves
Rule - move first extreme price to the left border of the period, move second extreme over the midlle bar of the period.
When both extremes occur on the same half-period: nothing special, just do as told in the rule i mentioned (move first extreme to the left border, move 2nd extreme over middle bar).
In fact you buildsegments correctly except that mistake about moving extremes.

Indicator works only in MT4, already sent it to you via PM
Attached Image (click to enlarge)
Click to Enlarge Name: monowave seenuva pataisyti.png Size: 43 KB
EWI: Best way to master it is to teach it
  • #118
  • Sep 21, 2009 11:42pm Sep 21, 2009 11:42pm
@ Sareika

I got "Mono Wave" Indicator.

i installed MT4. Its working well..

But i dont know how to attach the "Mono wave" Indicator in MT4.

Could u send Gold / Forex Wave counts..


thank u...
  • #119
  • Sep 22, 2009 12:43pm Sep 22, 2009 12:43pm
Quoting seenuvas86
@ Sareika

I got "Mono Wave" Indicator.

i installed MT4. Its working well..

But i dont know how to attach the "Mono wave" Indicator in MT4.

Could u send Gold / Forex Wave counts..


thank u...
put the indicator (both files) to the MetaTrader 4/experts/indicators folder then restart the terminal and add it to the chart as shown in the picture
Attached Image (click to enlarge)
Click to Enlarge Name: indicatorius.JPG Size: 90 KB
EWI: Best way to master it is to teach it
  • #120
  • Sep 22, 2009 12:46pm Sep 22, 2009 12:46pm
sorry i dont have any charts right now, i had to reinstall my computer and all charts are gone. but you can search through this thread, i put two or three pictures how my terminal looks like.
EWI: Best way to master it is to teach it
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