Description
The Series Count study finds time targets for implementation of Elliott Wave Theory. A bar is called time target if its ordinal number (from the specified date and time) is an element of Fibonacci or Lucas series. Time targets are marked with their ordinal numbers.
Fibonacci series is a sequence where each subsequent number is a sum of the previous two, with first two elements being equal to 0 and 1 correspondingly. Lucas series is defined similarly, but using numbers 2 and 1 as the first two elements.
Input Parameters
| Parameter | Description |
|---|---|
begin date
|
Defines the date from which the bars are counted. The date is specified in the YYYYMMDD format. |
begin time
|
Defines the time (EST timezone) of the specified day from which the bars are counted. The time is specified in the hhmm format (24-hour clock notation). |
mode
|
Defines whether Fibonacci or Lucas series is used for finding the time targets. |
vertical lines
|
Defines whether or not to mark the time targets with dotted vertical lines. |
Plots
| Plot | Description |
|---|---|
Series
|
The numerical plot marking the time targets with their ordinal numbers. |
Further Reading
1. "Automated Techniques for Intraday Traders" by Andrew Coles, PhD. Technical Analysis of Stocks & Commodities, August 2011.
Example*
*For illustrative purposes only. Not a recommendation of a specific security or investment strategy.