Automatic reading of Elliott waves.

Swing Reader easily reads Elliott waves using an automatic system. When leaving the standard deviation, a zigzag is plotted. You can set the deviation manually or allow the indicator to do this automatically (by setting the deviation parameter to zero).

• Never redraws.
• The dots show the horizontal line that statistically ends the rising wave.
• Candlesticks show the vertical line that statistically ends the rising wave.
• The horizontal line is constructed using the average points that statistically make up the descending waves.
• The horizontal line is constructed using the average points that statistically make up the ascending waves.
• The ability to optimize the indicator for each timeframe.

In the upper right corner you will find very important information about the market movement:

• Long Waves Average Time: the number of candlesticks that statistically make up the rising wave.
• Short Waves Average Time: the number of candlesticks that statistically make up the descending wave.
• Long Waves Average: points that statistically make up the rising wave.
• Short Waves Average: points that statistically make up the descending wave.
• Last impulse: for an uptrend, this means that the last uptrend is larger (in points) than the last downtrend; for a downtrend, the situation is reversed.

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• Deviation: the standard deviation for calculating the fluctuation (at 0 is determined by the indicator).
• Average Method: The method for calculating the averages displayed in the upper-right corner. There are two options available:
1. Simple: the arithmetic mean.
2. Linear Weighted: the average weighted by the latest waves (the newest waves are the most important!!).
• Bulls Color: the color of the rising waves.
• Bears Color: the color of the descending waves.
• Swing Width: the width of the waves.

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