If you're an elliott wave person it sucks. The fibs are linear even if the chart is log. And, the elliott wave labels do not zoom or snap when you change timeframes. IF you are not a elliottician, and you don't care about log fibs, it's fine. I use it every day but not for elliott wave.
RE: Chart of the Day: Ethereum coming in for a landing?
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Chart of the Day: Ethereum coming in for a landing?
I recently found out that if you use Fib Channel instead of Fib Retracement at the bottom of the toolbox it will at least give the correct percentage levels in log.
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I'll check that out. Motive isn't a great day trading tool. Lags too much, but that's great if I can at least get the right fibs. The labeling issue will keep me off it though. Motive labelling is amazing including 'auto degree'.
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I was testing it but why are the prices not the same as the price axis?
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Yes that's weird and poor that prices in the tool are still linear. I switched off the prices in the tool an always look at the price axis.
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So, how do you do a three point projection in log? When I measure the leading diagonal that topped in 2016, and move the tool to the 1-2, the 2.0 is in the wrong spot. It appears to be linear. BTC should have topped just above the 2.0 but it's at the 4.236. Appears to be linear to me.
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Here it is in Motive, which I know is accurate as I double checked with a spreadsheet before buying it.
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It comes in a little closer than the normal fib tool, but the extensions are still not right.
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I tried to reproduce what you've done in MotiveWave and the projections are the same. I think you didn't draw the 100% level at the same place or price and so you got a different result. BTW I used Bitfinex data here.
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Cool thanks. I am not elliott wave person, so thats it :)
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So should become one it's worth it.
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🙌
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I would like because its looks powerfull. I tried but i was never sure i found right waves. So now i am using Ichimoku Cloud. Im day trading and Ichimoku is good for it, but Elliott could be better, but im not too good to learn it to use it properly.
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