Does AlphOmega Elliott Waves work in real time?
Yes, AlphOmega Elliott Waves will work down to one minute bars. The expert used to label the wave count will slow down your display, it is recommended to open one chart at a time in real time.
I cannot find my manual?
The manual is stored in C:\Program Files\AlphOmega Elliott Waves at the install time. It is available in two formats, Microsoft Word and Adobe Acrobat. You can also download the manual from this site, under the Manual tab.
There is no wave count on my screen?
There are two possibilities, the first one is that you are using an expert of the wrong volatility for the type of security you are displaying; the second possibility is that you are not loading enough bars for the expert to compute a wave count.
The experts should be used for displaying wave counts as follows:
1- Futures for futures or securities where the price percentage variation in general is lower than 1% bar to bar.
2- Low volatility for Indices, high priced securities where the price percentage variation in general is lower than 8% bar to bar.
3- Normal volatility for most equities where the price percentage variation in general is lower than 34% bar to bar.
4- High volatility for penny stocks where the price percentage variation in general is more than 34% bar to bar
The minimum number of bars to load (not to display) depends on the volatility of the security but is generally 2,500 bars. The recommended number of bars is 3,500 to get a more accurate wave count. The display of question mark is the first warning that one of the sensitivity is undetermined (usually the one above the sensitivity displaying the question mark).
To change the number of bars loaded in your charts, select open file, then options, then load options; enter the 3,500 bars to load and 250 for the bars to display (the calculation is made on the loaded bars not the displayed). The same applies to explorations where you should load an identical number of bars to relate properly to your charts. Open the explorer, select options and enter 3,500 bars. It is assumed that your database has at least that much data stored for most of your securities, if it is not the explorer will use all that you have.
I don’t get any securities listed in the report when I run my exploration?
Make sure you are loading enough bars for the exploration to compute properly the wave count. As in the previous question, the volatility and the number of bars loaded are the two factors that can cause this problem. Note that some explorations scan for early signal and will discard all signals that are more than 3 bars old.
There are so many indicators that I don’t know where to start?
The easiest way to start is to use one of the templates (AlphOmega Simple or AOi Simple) to look at your charts. It contains the indicators used normally with Elliott waves. Reading the manual is a necessary step and putting it off will not help. The large number of indicators, experts, system test and explorations is necessary because we do not all trade the same market. There is no need to use them all but it is essential to master the ones that apply to the market we trade. We may have many suits in the closet but only wear one at a time. This set was designed as a tool for traders to apply Elliott wave principles to their market. It is not a system to automatically generate trades, we need to use discernment with the information we get from the set.
When I run the system tester, I get results that are hard to believe?
The system tester was designed using the most conservative approach such as entry and exit only after confirmation of a signal. When we look at a wave, we cannot know that a peak or trough has been reached until price moves away a little from it. The distance between the peak or trough and the signal is called the price retracement and is synonym with sensitivity. In the entire system test, we have used this price retracement confirmation. Not all securities respond adequately to a specific sensitivity, sometimes the sensitivity is out of tune with price moving range. It is wise to check the historical success of sensitivity before getting into a trade.
Where can I get more information on how to use the set?
On this site, under the tab Product Information, there are Viewlets that will take you through some of the main tasks. On the site as well, we have a monthly commentary describing the various use on the market and new features available. We provide e-mail support to all our users, send a screenshot of your chart with your question and we will reply within 24 hours. For questions on Elliott Waves, a number of Internet links are available to direct you to Elliott Waves sites. In addition many users forum are available for Elliott Waves analyst.
Is there an AlphOmega User Group?
No at the present time but we are working on building a large enough base to feed one.
Where and how do I register?
If you purchase from this site, you will be registered automatically and you will receive a confirmation. For purchases from Equis or their distributors, you must register by e-mail at [email protected] . You will need your Equis invoice number.
When I install my update, I get an error message or the option to remove?
This is because a previous version is already installed. The installer must first remove the old manuals (it will not erase your indicators), once completed the program will end. Then run again the install program and you will not get an error message.