Derives pivot times generally considered as high-potential,
using three extension methods:
Time Bar
Gann
Fib (Fibonacci)
The Time Projector then locates, identifies, sorts, and displays
a Time Cluster Summary.
The calculation of Fib/Gann pivots is based on historical,
wavelike, price action using four extension methods:
Static Fib
Static Gann
Dynamic Fib
Dynamic Gann
The Price Projector then locates, identifies, sorts, and
displays a Price Cluster Summary.
Some traders use the information presented by the Range Projector Calculations for preparing their trading plan
decisions, such as:
Entry Point Evaluation
Protective Stop Placement
Profitability Analysis
Exit Targeting
Those traders feel these statistics sharpen their understanding
of likely trading situations and afford added security to their
trading plan. Range Statistics include:
Highest High
Lowest Low
Ranges (Historical Range Statistics):
Maximum
- Minimum
- Average
- Median
- Mode
Breakouts (Historical Breakout Statistics):
Maximum
- Minimum
- Average
- Median
- Mode
SMTP and DTP calculate time and price projections using several methods. Sometimes more than one method will generate identical or similar results. Such groupings of similar or identical projected times or prices are referred to as Clusters.
Theoretically, Clusters indicate increased likelihood of accurate projection.
Time Cluster Summary
Identical Time Clusters of identical dates/times are summarized, sorted, labeled, and displayed.
The Price Cluster Summary is a sorted listing of price clusters generated via the four Price Projections. In SMTP and DTP it includes the Pit Pivot Points as well, to present a complete picture of the next day's expected Support/Resistance areas.
- Defining the Price-Cluster Range Parameters
You manage the level of accuracy, defining the price range within which you personally consider the results to meaningfully match/cluster.Define Decimal of Point Value
The decimal portion of the value of a commodity's point value sometimes represents tenths of a full point, and sometimes, as in the case of T-Bonds, it represents 1/32 of a full point.
Extensions are mathematical additions to a Time or Price used
to project anticipated Support or Resistance. Two types of
Extensions are employed in SMTP and DTP calculations:
Ratio
Incremental
- Extension by addition of the time range between two Prices multiplied by factors having a special relationship, as Gann ratios or Fibonacci ratios.
Ratio Extensions are calculated in two ways:
- Static (linear mathematical additions)
Dynamic (extensions adjusted for time, illustrated below)
The Incremental extensions matrix is calculated by simply adding ranges of increasing degrees (Gann increments or Fibonacci increments) to the last pivot time or price.
The pit traders use this system. Awareness of Pit Pivots is essential for day trading and of great use for making entry, exit, and stop placement decisions for longer-term traders. Awareness of these
pivot points, used in conjunction with historical support and resistance, and Fibonacci and Gann projections, contribute toward increasing the trader's edge.
The waiting is over. The pivot has occurred—hopefully, at or near
the projected price. Now is the time to use the Elliott Wave Extension
Calculator to project where the move is likely to go.This calculator utilizes a simple EW extension method—Extensions
added to the actual pivot (Pivot 4), based on commonly held likely
percentages, of the historical Pivot 2 to Pivot 3 price-move.
Extensions are mathematical additions to a Time or Price used
Ratio
Incremental
Ratio Extensions
Ratio Extensions are calculated in two ways:
Dynamic (extensions adjusted for time,
illustrated below)
The Incremental extensions matrix is calculated by simply adding
ranges of increasing degrees (Gann increments or Fibonacci
increments) to the last pivot time or price.
