Elliott Wave Long

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Elliott Wave Long Range

The Elliott Wave Long Range Hi-Lite is calculated, plotted and displayed in exactly the same way as the Elliott Wave Hi-Lite.

For information on the Elliott Wave and its four components, refer to the Elliott Wave Help topic.

As mentioned in that topic, each wave, whether impulsive or corrective, subdivides into smaller waves and/or comprises a part of a larger wave. Waves can, therefore, be analyzed in time periods ranging from a matter of minutes to many centuries.

The purpose of the Elliott Wave Long Range Hi-Lite is to analyze the same wave formation using a longer wave length. Often this will result in an Elliott Wave being included in one or more of the Elliott Wave Long Range's individual waves.

Since only one Hi-Lite can be applied to a chart at one time, having a separate Elliott Wave Long Range Hi-Lite allows for it to be overlaid on a chart already containing a normal Elliott Wave Hi-Lite:

elliottwavelongovrew.gif

In the example above, the Elliott Wave (Long Range) formation contains five waves of a shorter ranged Elliott Wave inside the Long Range Elliott Wave's 4th Wave.

This illustrates the concept of Elliott Waves being able to be subdivided into smaller waves, and/or comprising a part of a larger wave.

Elliott Wave Long Display Settings

In order to differentiate between the two Elliott Wave Hi-Lite series when displayed on the same price chart, and especially when their Wave points are plotted for the same point, users can change the wave points icons' shape and color.

The Elliott Wave Settings dialog box configures the parameters and display of the Elliott Wave icons. Open the dialog by double left mouse clicking the Hi-Lites label or one of the wave point icons.

The properties settings are exactly the same as for the normal Elliott Wave, for more information go to the Elliott Wave Display Settings help topic.

Elliott Wave Long Overlaid on Elliott Wave

When the two Hi-Lites are open on the same price chart it can be difficult to distinguish between the various wave sets.

One method of identifying the two wave series is to change their icon's shape and color, see previous section.

Another way to distinguish the two types of wave display is to click on the Hi-Lites' buttons in the Hi-Lites Access Panel to toggle the display on or off:

hilit_apselewboth.gif

hilit_apselewl.gif

hilit_apselewonly.gif

Both types displayed

Elliott Wave Long only

Elliott Wave short only

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