Wave Segregation Index - WSI

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Wave Segregation Index - WSI

Postby Apprentice » Wed May 19, 2010 9:13 am

WSI.png
WSI

The indicator has been written on request and based on the concept given by the user.

WSI = (CCI[100]*TypicalPrice * ADX[100]) / 1000

Purpose of indicators is Elliot wave count.
The overbought & oversold lines for this indicator are +1.5 & -1.5

WSI.lua
WSI
(2.42 KiB) Downloaded 1810 times


MT4/Mq4 version.
viewtopic.php?f=38&t=64458

The indicator was revised and updated
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Apprentice
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Re: Wave Segregation Index - WSI

Postby WWMMACAU » Fri May 21, 2010 10:43 am

Hi Apprentice,
Can you explain how to Elliot wave count.

Thanks
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Re: Wave Segregation Index - WSI

Postby Apprentice » Sat May 22, 2010 4:57 am

The indicator has been written on request from Summerset.

http://fxcodebase.com/code/viewtopic.php?f=27&t=1049&start=0

I think he is the authority for this indicator. :)

I have not had time to do analysis.

It seems that Crossover of WSI below or above the zero line indicate the formation of a new Elliot wave.
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Re: Wave Segregation Index - WSI

Postby summerset » Sat May 22, 2010 1:12 pm

The indicator filters out wave 3 breakouts pending a wave 1-2, on the assumption that a trader can only trade a wave 3 breakout on any frame.

When ever the cycle WSI (100 periods) breaks > 1.5 or <-1.5, a bull or bear w-3 has broken out. And can be counted into a 5-3 sequence on the pulse WSI (14 periods).

The oscillator has the following applications;-

1- The trader can take signals of the 14 period WSI, once the cycle (100 period) WSI is >1.5 or below 1.5.

2- The trader can acurately count a complete Elliot cycle using the pulse WSI between 2 cycle bottoms on the cycle WSI, enabling the trader to enter at the end of a cyclic correction.

3- Using specific values from the WSI higher cycle, the trader can tell when a Wave 1-2 swing pivot is about to breakout into a wave -3 to make an early entry.

These 3 aspects are best explained, and how to implement them- with examples, on slides that I will mail WWMMACAU , and any other interested parties in the Oscillator's use.

All the Best
Sincere Regards
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Re: Wave Segregation Index - WSI

Postby Alexander.Gettinger » Tue Feb 01, 2011 11:22 pm

Modification of indicator with border line for suitable use in strategies.
Download:
WSI2.lua
(2.61 KiB) Downloaded 1409 times
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Re: Wave Segregation Index - WSI

Postby Apprentice » Thu Mar 02, 2017 8:05 am

Indicator was revised and updated.
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