Using Computers and Indicators to Confirm Wave Counts
The modern approach adds a unique dimension to Elliott Wave analysis. With the dawning of the age of the computer, the modern approach to Elliott Wave analysis has begun.
Through the use of powerful computers, we are able to add different types of calculations onto the chart. These are displayed in the form of indicators. These indicators measure characteristics of momentum and price movement to confirm the classic approach of the Elliott Wave principle based on price structure alone.
We don’t need to abandon the classic approach to Elliott Wave analysis based on price and retracement statistics alone. The addition of the modern approach adds clarity needed in ...