WaveTracker Options

WaveTracker gives you several options to customize the study. To change WaveTracker options from the default values, right click on the chart running WaveTracker and select Edit Studies. Then select WaveTracker from the drop down menu list at the top of the Study Properties dialog box. You will then see the Formula parameters (options) you can change. These options are:

• 1. MinWaveSize*

  Expressed as an integer number of ticks. This option allows you to define the minimum wave size from high to low or low to high that would constitute a valid wave. There is no one wave size that is exactly correct for a particular chart. As a guide, when you are visually pleased with the number of waves showing up on the chart, you have adjusted the value correctly. Default: 0 (0 means do not use this parameter definition; the parameter will come from the MyWaveTracker database)

• 2. TickSz*

  Expressed in decimal. Allows you to set the tick size for the symbol. Default: 0 (0 means do not use this parameter definition; the parameter will come from the MyWaveTracker database)

• 3. Tolerance*

  Expressed as an integer number of ticks. Allows you to set the tolerance that defines pattern failure for an Elliott AWE pattern. You should set the tolerance to be the value beyond which the Elliott AWE pattern fails. In the S&P EMini, each tick is $.25 and we define pattern failure as $.50 (2 ticks). So we set the tolerance to be 1 (for 1 tick), meaning that we will tolerate 1 tick through the D point of an Elliott AWE pattern. If you are trading, say IBM which (like all stocks) has a tick size of $.01, and you want pattern failure to be $.06 through the D point of an Elliott AWE pattern, then you would set the tolerance to be $.05. Default: 0 (0 means do not use this parameter definition; the parameter will come from the MyWaveTracker database)

• 4. Open*

  The session open of the symbol, expressed in GMT. Default: -1 (-1 means do not use this parameter definition; the parameter will come from the MyWaveTracker database)

• 5. Close*

  The session close of the symbol, expressed in GMT. Default: -1 (-1 means do not use this parameter definition; the parameter will come from the MyWaveTracker database)

• 6 AudioAlerts

  Set to '1' if you want audio alerts for approaching Elliott AWE patterns and volume spikes. Audio alerts for volume spikes occur only on 1 minute charts. Default: 1 = on, 0 = off.

• 7. FontSize

  Controls the font size, in points, of the text displayed for each high and low. Default: 9.

  *The default setting is for these parameters is either 0 or -1, meaning they are not used unless edited. If edited (via Edit Studies), the edited parameters will take precedence over the WaveTracker database settings. Upon loading (and if not previously edited here), WaveTracker will attempt to retrieve these parameters from the database definition for the symbol being loaded. You can view and customize the database definitions for all symbols by using MyWaveTracker.