Neely's EW

[rsdsouza]

I'm studying Neely's "Mastering EW". Since there is a lot of manual work involved, I'm trying to automate atleast some of the work in excel. Can anyone give me any tips based on your learning if there is any software/tool that I can use to make my work easier? I have metastock eod; if there are any formulas I can use there, that too would be useful.

Regards,
Rajath.

 

[amitt29]

Hi,
Welcome to the forum.
You can use median price function which is in essence the sum of real high and real low divided by 2.Can be on daily,hrly any time frame.

Neowave requires you to plot price data in order of their forming and occurence.
Hope this helps.
Amit.

 

[rsdsouza]

Hi Amit,
The average of the high/low is not very good. Based on Neowave's requirement, I'm using two values per day; high and low - each one plotted either on the first or second half of the day, based on when it occurs. This is certainly better than using the average of the high/low value, and involves quite some work.

Alternatively, if I can export hourly data to an excel sheet, then incorporate some of the formulae given by Neely, my work would probably be a little less. What do you think?

Rajath.