THE RET POWERPACKS / TECHNICAL SPECIFICATIONS

Technical Specifications - Market Specific Powerpacks for the Refined Elliott Trader (RET) Software


The Refined Elliott Trader software searches for patterns in charts based on statistical information contained within the Elliott Pattern PowerPack database - either the default PowerPack included in the software, or one of the optional Market-specific PowerPacks. Each of these PowerPack databases were created by analyzing a large number of Elliott patterns found in real markets.
 
Market-specific PowerPacks enable the Refined Elliott Trader to give a more accurate ranking of every Elliott pattern (or "count") - based on how common the given count is found to be within the particular market being analyzed.
 
The most common Elliott Wave patterns vary significantly for different countries, markets, time frames, and orientation. For example, when analyzing a currency, it is important to match the Elliott Patterns against those commonly found within currency (or Forex) markets. In a similar way, when analyzing stocks, it is very important to be matching the Elliott Patterns against those commonly found in stock markets. Patterns can also vary considerably between countries, reflecting a different psychology of traders in different geographical, political and religious regions.
 
It is most important to use the correct PowerPack when analyzing markets - so that the Refined Elliott Trader can correctly rank each identified Elliott Wave count according to that specific market.
 
Minimum Criteria Required of Each Documented Pattern:
 
Each documented pattern found in these markets needs to satisfy a number of strict criteria before being admitted into the pattern database.
 
Each pattern must:
  1. Fully satisfy all the relevant rules of Elliott Wave theory
  2. Each sub-wave within the Elliott Wave pattern needs to be a fully formed and a legitimate Elliott Wave pattern - giving two degrees of synchronization.
Timeframes and Intervals:
 
At least five different data intervals are used when identifying patterns to be included in the database: 1 minute, 3 minute, 15 minute, 1 hour, daily
 
This specific selection gives a minimum multiple of 3 times between any two timescales - which is a sufficient degree of separation to prevent duplicate patterns being found in different interval charts - and being admitted into the database as two separate unique patterns. If this were happening, it would create an incorrect bias.
 
Parameters Used in Comparing Patterns:
 
The following parameters are stored within each PowerPack database. They are used by the Refined Elliott Trader to determine the most common Elliott Wave pattern shapes, and rate them correctly:
  1. Relative price movement from wave end points
  2. Relative internal wave price movement
  3. Relative time of each wave
  4. Relative slope of each wave
  5. Relative largest internal wave by price
  6. Internal wave structure
  7. Relative peak volume
  8. Relative channel slope of triangles and diagonals
Each of these comparisons are included for the following pattern categories:
  1. Each Elliott Wave Pattern type
  2. Each market type, such as stocks or Forex, etc
  3. Each degree - being different time spans
  4. Normal and inverted patterns
  5. Comparative Rating of Elliott Counts
  6. When the Refined Elliott Trader analyzes a chart, it compares each legitimate Elliott Wave pattern found, and then searches the selected database for statistical information on similar patterns to those it found in the chart.
 
A comparison of all the above criteria enables RET to rank each Elliott Count according to how common similar patterns occur in similar market conditions.
 
The more common an Elliott Wave Count is found to be, the higher the rating value it is given, and consequently the higher ranking it receives. The top rated pattern is ranked number 1 and labeled as the Preferred Count.
 
Correctly identifying the most commonly occurring Elliott Wave patterns - for that market, time frame, orientation, and pattern characteristics - helps maximize the probability of accurately forecasting future market movement.


Currently Available RET PowerPacks:

Most PowerPacks contain two separate databases. Although each database is created from a minimum of 300,000 Elliott Wave patterns, most 2008 PowerPack databases are created from more than one million Elliott Wave patterns.

PowerPack Name: Databases Included: Description:
General (Default) Stocks General selection of USA Stocks
Forex/Futures General selection of USA non-stock markets
Forex 2008 Majors The six major currency pairs: EUR, GBP, CHF, JPY, CAD, AUD
Minors All liquid traded currencies that show clear Elliott Wave behavior
S&P500 2008 S&P500 All liquid S&P500 stocks that show clear Elliott Wave behavior
S&P100 All liquid S&P100 stocks that show clear Elliott Wave behavior
USA Stocks 2008 Dow30 All 30 stocks of the DOW30
NASDAQ All stocks in the Nasdaq 100 that show clear Elliott Wave behavior
USA Commodities 2008 Grains/Food All liquid USA grains, food and fiber commodities that show clear Elliott Wave behavior
Metals/Energy All liquid USA metals and energy commodities that show clear Elliott Wave behavior
USA Indices 2008 Majors The 10 most liquid USA stock indices, including the Dow, Nasdaq, major S&P and Russell indices
Majors & Minors The 35 most liquid USA stock indices
Australian Stocks 2008 All Ords All liquid stocks of the All Ordinaries that show clear Elliott Wave behavior
Indian Stocks 2008 Nifty 100 All liquid stocks of the Nifty 100 that show clear Elliott Wave behavior
Saudi 2008 Stocks The top 100 most liquid stocks on the Saudi exchange that show clear Elliott Wave behavior
Indices The top ten most liquid stock indices on the Saudi exchange
Forex Euro 2008 EUR Created exclusively from patterns found within Euro charts only
EUR/CHF Created exclusively from patterns found within EUR/CHF charts only
Forex Europe 2008 GBP Created exclusively from patterns found within GBP charts only
CHF Created exclusively from patterns found within CHF charts only
Forex JPY Crosses 2008 GBP/JPY Created exclusively from patterns found within GBP/JPY charts only
EUR/JPY Created exclusively from patterns found within EUR/JPY charts only
Forex Asia 2008 JPY Created exclusively from patterns found within JPY charts only
AUD Created exclusively from patterns found within AUD charts only
Euro Stocks 2008 FTSE100 All liquid stocks of the FTSE 100 that show clear Elliott Wave behavior
EUR500 All liquid stocks of the EUR 500 that show clear Elliott Wave behavior

Note: The "General" PowerPack is included as default with the Refined Elliott Trader software. All other PowerPacks are optional extras. You may obtain any of these PowerPacks through the Elliottician Store.

 


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