WaveTracker Confluence

WaveTracker is a system wherein market structure and geometry are analyzed and reported to the trader at multiple degrees of trend. WaveTracker PRO reports all confluences of market structure and geometry giving you a visual perspective of key trading points in the market.

WaveTracker:

• Identifies market structure and geometry from ALL charts for a given symbol
• Reports confluences (multiple points of structure and geometry coinciding at the same price)
• Alerts for Fibonacci alternates of Elliott AWE patterns

During the Day Session

WaveTracker Pro reports two levels of detail regarding market structure and geometry. Level 1 Includes the following:

• Highs and Lows (selected by the user)
• Elliott AWE patterns
• Balance points
• Level 2 items that "tie-in" with one of the above

Level 2 items include:

• Fibonacci retracements and extentions
• Pivots (Pvt, R1, R2, S1 & S2)
• Fibonacci alternates of Elliott AWE patterns (.382, .500, and .618 only)

To activate the Key Level feature, simply click on the 'L' button that is just beneath the 'AWE' button in the center of your chart and to the right of the current price bar. Figure 1 below shows a 5 minute day session chart with the Level 1 Key Levels displayed:

Figure 1

During the day session, Key Levels are shown that WaveTracker obtained from that chart. Therefore, performance is superb and results are displayed instantaneously with zero performance degradation.

The chart below shown in Figure 2 is the same 5 minute chart as above but with Level 2 confluences shown as well. Level 2 items are ONLY shown if they either:

• 1. coincide with a Level 1 item
• 2. coincide with another Level 2 item

In other words, you will never see a Level 2 item shown by itself. Level 1 items, on the other hand, are shown regardless of whether they have a confluence that coincides at the same price level. Level 2 items are always shown in addition to Level 1 items.

Figure 2

After Day Session

For after market analysis, WaveTracker Pro coordinates Level 1 and Level 2 items from ALL charts. At the end of the day session, WaveTracker PRO will ensure that all charts are updated with the current AWE patterns. It will then coordinate market structure and geometry among all charts, exporting the data to a file called 'Prep_work_XXX' where XXX is the symbol of the security. By default, the file will reside in the program files\eSignal\formulaoutput directory. When viewing Level 1 or Level 2 items on a chart, WaveTracker PRO will include all Level 1 and Level 2 items from that chart AND ALL HIGHER DEGREE TIMEFRAME CHARTS. For example, if you are viewing a 15M chart, WaveTracker will display Level 1 and Level 2 items from ALL charts that are of timeframe 15M or higher (including Globex charts).

Literally, with a single click on the 'L' button on a 5 minute or a 15 minute chart, WaveTracker Pro will list all of the key levels for the next days trading, showing you why each key level is important.

Operation of the 'L' Button

Day session operation of the 'L' button is as follows:

• 1. Click on the 'L' button
  • a. Level 1 items are displayed (for current chart only)
  • b. 'L' ===> '2' (button changes to a 2)
• 2. Click on the '2' button
  • a. Level 2 items are displayed (for current chart only)
  • b. '2' ===> '1' (button changes to a '1', with same meaning as 'L')

After market hours (after day session) operation of the 'L' button is as follows:

• 1. Click on the 'L' button
  • a. Level 1 items are displayed (for this chart and all higher degree timeframe charts)
  • b. 'L' ===> '2' (button changes to a '2')
• 2. Click on the '2' button
  • a. Level 2 items are displayed (for this chart and all higher degree timeframe charts)
  • b. '2' ===> 'ch' (button changes to a 'ch')
• 3. Click on the 'ch' button
  • a. Level 2 items are displayed (for this chart only)
  • b. 'ch' ===> 'ch' (button changes to a '1', with same meaning as 'L')