Stock

AlphOmega Elliott Waves 5.6
For MetaStock® 9.0 and MetaStock® Pro 9.0 and higher

User’s Manual
All Rights Reserved Copyright © 2003

Welcome to AlphOmega Elliott Waves! This set will display Elliott waves count, price projections and time projections. The wave count is calculated from individual wave definitions, their relationship in size or time and a specific hierarchy. The wave countis intended as a basis for analysis and does not pretend to be an end in itself or exhaustive. Interpretation is always necessary when dealing with Elliott waves, but the basic rules are strictly enforced within the set. The purpose of this manual is not to teach in depth theory of Elliott Waves or the use of MetaStock® software, but to give you directions on how to use the tools provided in TheExpert Advisor™, Indicators, System and Explorations you have just purchased. From the Web site http://AlphOmegaEW.com , you can run Viewlets that will show you how to perform the most important tasks. A simple way to understand the set is to go through the various templates of the set and the screens you can create. This booklet was made short so you can read through it in less than a couple ofhours, so please take the time for your own benefit. You will get a deeper understanding as you use the set of Experts, Indicators, Systems and Explorations. For information on the theory of Elliott Waves, an address is provided on page 60. All screenshots in this manual are unedited except for annotations hence offering a true picture of the set’s displays; the data is from the market and has notbeen manipulated. Introduction (Set-up) First let’s make sure you have correctly set-up your set of Experts, Indicators, Systems and Explorations. From MetaStock® 7.2 and up, the import is done automatically. Open a chart and right click to select a template. Use the AlphOmega Simple template (Elliott Waves) that should contain in addition to the price and volume data, the following indicators: AOP&T Duration in gray and Wave Time Projection for 21% (Normal) in red AO STORSI in green and Demand Index in red Exponential Moving Averages on Close for 13, 55 and 144 days in green, dark yellow and red AlphOmega Elliott Waves NV Expert AO PTF Indicator set-up for 21% (Normal)* in dotted red lines AlphOmega Wave Highlighter (already set-up for 21%) (Normal) in red AlphOmega Auto Trendline* for 21%(Normal) in blue AO Elliott Oscillator in gray AlphOmega RSI/RMI Trend, RSI (Close, 14)* in magenta, Dynamic Momentum Index in blue and Trendline in green and Relative Momentum Index (20, 5)* in red Volume Moving Average (50,E) in dark yellow (Note that an asterisk indicates the indicators that may be verified for proper parameters set-up in the provided template. MetaStock® imports with defaultset-up but it is rarely a problem.) The first two are in the top inner window while the last four should be in the Volume inner window. You can choose to have no scale or use a left side scale to protect your volume scale. Your AlphOmega Simple template should look like the graph in Fig. 1 below. The other AlphOmega templates (Elliott Waves (8%), Elliott Waves (13%) and Elliott Waves (34%)) willhave all of the above where the 21% is replaced by 8%, 13% and 34%. If you place an icon at the bottom of your window, the templates are called at will and do not replace your smart charts. All these templates are included in your set. Please take the time to verify that the correct settings are in place for the indicators with an asterisk otherwise all the templates will show the same Wave depth.1

One word before we get in the screens layout, The Explorer™ and the charts should be run with the largest amount of data you have. In the options I have used “Load 3500 records” because the slowest cycle can evolve over many years. Since you must capture one full wave (At least one Peak and one Trough) before The Expert Advisor™ can see it, you must also have a full cycle of waves...