Filtered Wave
December 28, 2008
Definition:
Filtered Wave automatically draws lines between the top and bottom of a price movement that is at least 10%. This percentage can be changed in SwingTracker by clicking “Utilities” >> “Parameters” and selecting “Filtered Wave” in the resulting pop-up window.
Interpretation:
The Filtered Wave does not have any predictive value in it of itself. However, it is useful in studying the degree of retracements during major price movements and can be used alongside other types of indicators (such as Elliot Wave analysis or Fibonacci Retracements).
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