Well, this one also has been created because of some disappointment I had about limited possibilities found in other softwares (by the way, I own more than 14 different technical analysis programs - the most expensive costing $2,750 - so I know what I am speaking about. I am no longer using any of them, except one just to look at the charts). Here, the goal was to have, on the same workspace and automatically calculate Gann AND Elliott price clusters .

It started with a very simple observation, that perhaps you made too : price objectives clustering . When you have, at a certain point in an Elliott impulse, 2 or more price objectives being in the same range, you have a CLUSTER with a seriously increased probability of a price reversal.

An example would be for stock XYZ being currently in what seems to be a wave 4 retracement. You then estimate the wave 4 objective by calculating different ratios (0.68, 0.38, 1.61,...etc) on the lengths of the previous wave 1,2 or 3, or on the previous impulse. If 2 or more of these ratios give you the same price area, and this area is relevant (in the near zone of the actual price of XYZ), you have then a very reliable cluster, and often the price will reverse at this point.

Of course, all this means a lot of paperwork, and also you have to know which ratios work better than other ones. But it still could be done handily with a calculator and some paper.

Where the computer becomes a must is for the the Gann Levels ! Try to calculate it by hand.  You will probably need your evening for only one symbol, and it has to be recalculated every day...
But it is very useful. The Support and Resistance Gann lines, which are drawn from the Gann angles, are already very accurate when used alone. But when you have a Gann level Cluster, the accuracy becomes amazing. I will not discuss here the secrets and tips on using Gann levels, there are people who are really specialized in this matter and whose work has partly inspired the creation of GEP. 

The Gann Elliott Projector (GEP) calculates these levels, along with the Elliott price targets. Of course, you can also use GEP as is,  just observing and noting the clusters from both tables. You will then not be long to discover that when you have an Elliott cluster matching a Gann cluster (in other terms, when you have cluster of clusters!), the accuracy becomes astounding.

Question :  Hey, wait a minute, my charting program can plot Gann angles.
Sure, now why don't you use it?   Because this stuff doesn't work well !  
And you know why?  Because the Gann lines of your program all have the same slope!  You can maybe edit and modify it, but with which values? ! ?

Here is the point: Each V or inverted V formation, due to its unique High-Low-High length and duration, will generate a different set of Gann Lines. That is the reality. If you don't make the right calculation for each of them, Gann will cease to work, or at the minimum, the accuracy will be seriously damaged ! And that is why most traders don't use them.

Further, and as mentioned above, if you are lucky enough to discover an Elliott cluster matching a Gann cluster near the current price area, then YOU HAVE A WINNER!

Ok, now that is precisely what Gann Elliott Projector does. You enter what you know of the recent XYZ stock history (for example, wave 1 and 2 lengths, last major High and Low, price and time of the 2 last inverted V formations) and GEP will kindly give you ALL possible Elliott AND Gann price targets. A quick look will easily allow you to see the Elliott clusters sitting near the Gann clusters. If you see one or more Elliott clusters matching a Gann cluster, you know what to do tomorrow morning.

The screen below illustrates Elliott and Gann objectives produced by GEP on Dec 16, 1996 for the S&P 500. Look at the Elliott cluster at 717.7 and the 2 crossing Gann clusters at 716.3 and 720.20. On the next session, the SP500 touched an intraday low at 716.70 then reversed sharply to close at 726.040. On Dec 27, it closes at 756.79. That is the beauty of the story.

Before ordering, sometimes some people ask me how the user has to enter Elliott input. Does he have to know that such a move represents a certain Elliott wave, or does GEP recognize it ?
The answer is that the users have to make at least one assumption and label the move being analyzed, as far as they can. If they recognize only wave 1 and 2, no problem. They enter this and GEP does the rest. 

All this becomes very clear once you have the application on your screen and read the user's guide. Nonetheless, there is always a bit of assumption with Elliott (even with advanced Elliott software), for which the count often changes along the way. Fortunately, concerning the Gann part of GEP, there is absolutely NO guesswork: the V and Inverted V formations, from which GEP calculated the Gann levels of support and resistance are already completed and known. 

As for myself, I only enter Elliott input if I am almost certain to recognize part of a count being underway. Then I only need one matching Gann on the other side to have a working and reliable cluster. But if I am not reasonably sure of an Elliott pattern, no problem, I just work with the Gann feature of GEP; then, I need not one, but two matching Gann levels to have my reliable cluster.

• Any Trader wishing to pinpoint reversal areas with more precision

• Day Traders who want to determine the next day support or resistance point from which to initiate a position

• Middle or Long Term Stock Traders who want to better define exit areas after a long move

• Fibonacci Traders who don't wish to trade only the 50 or 61% retracement

Update of 03/22/97: I keep this study on the page, leaving the text below unchanged. In effect, the actual prices (March 21 at close) confirm the study done on March 5, and the wave 5 is now underway. We have just updated the chart. Please note that the low of the large up bar of March 5 has not been broken. It is also interesting that the Gann cluster of March 3-4 has remarkablely pointed the low-high reversal of the end of wave 4. Right now, it seems that the sub-wave ii of wave 5 is now completed, and that BA is now ready to resume its up-move.
I also updated the Elliott part of the screen of the Gann  Elliott Projector spreadsheet, by adding the input of wave 4 (100 1/8).

We then obtain the objective for Wave 5 (see GEP picture below). But again, I left the text below unchanged from March 5; therefore, this text only treats Wave 4. Thus, to see wave 5 objective, go
to the chart directly below (as you will see, we have some good probabilities around 125 for end of
wave 5).

Looking at the Elliott impulse (degree Intermediate) initiated in early May 96, we have now largely enough data to try forecasting the end of it, as we now can estimate the previous 1,2 and 3rd waves:

W1 at 94 on July 2, 1996 ; W2 at 79.875 on July 16 ; W3 at 114.50 on Jan 21, 1997.

The objective here is to know if the low that Boeing made on March 3 at 100 1/8 marked the end of the 4th wave. Just looking at the chart seems to indicate that possibility,  a nice ABC swing low, after a major wave 3 top.

We also know 2 important High-Low-High (HLH) formations that occurred during this impulse: HLH 1: Mar 22, 1996 - May 8, 1996 - Jan 21, 1997 HLH 2: Jan 21, 1997 - Jan 29 - Feb 19

I entered these 2 sets of inputs in my favorite Gann  Elliott Projector xls spreadsheet (illustrated below) and found 2 important clusters between the objectives of Wave 4 and the Gann Supports lines given by the 2 HLH. In other words, I found Elliott objectives matching Gann Supports objectives for March 3, + or - 1 day:

Matching Gann Supports : 99.6 and 100.7 Matching Elliott Wave 4 objectives: 99.12 and 101.27

Thus, we have here a crystal clear Elliott and Gann cluster between 99.12 and 101.27

On March 4^th, Boeing made an intraday low at 101.12 !!

The figure below shows the GEP screen:
Above, is the input area where the previous Elliott waves (left side) and the V or Inverted V points (for Gann part, right side) are entered. Below the input area you can see the output zone, where the program calculates the projections (Elliott at the left, Gann at the right).

Look at the Wave 4 line: there are the W4 objectives. To the right are calculated the different Gann Support Level (or Resistance when you start from a LHL formation). You quickly see 2 clusters in Elliott W4 zone: 101.27 and 99.12 and 2 other in the Gann zone (at Level 2): 100.73 and 99.63.

 The conclusion we can draw from these numbers (especially the fact that the prices of Boeing touched both the Gann as the Elliott objective then reversed), is that this buy signal is strong. This new rally should lead Boeing to new highs, exceeding the top of January. Based on wave 4 now completed, and therefore entered into GEP as a new input, the objective for wave 5 go from 118 to 132.