What is Elliott Wave analysis?

The Elliott wave principle is a form of technical analysis that finance traders use to analyze financial market cycles and forecast market trends by identifying extremes in investor psychology, highs and lows in prices, and other collective factors.

Regarding this, what is the Elliott Wave Oscillator?

THE ELLIOTT WAVE OSCILLATOR. The Elliott Oscillator, or 5/34 Oscillator, is a 34 period simple moving average of prices subtracted from a 5 period simple moving average of prices displayed as a histogram above and below a zero line. You can duplicate the Elliott Wave Oscillator on charting programs with a MACD feature.

How many waves are there in Elliott Wave Theory?

The Elliott Wave Theory is interpreted as follows: Every action is followed by a reaction. Five waves move in the direction of the main trend, followed by three corrective waves (a 5-3 move). A 5-3 move completes a cycle.

Can Wave 4 overlap wave 1?

Wave 4 cannot overlap wave 1, except in diagonal triangles and sometimes in wave 1 or A waves, but never in a third wave. In most cases there should not be an overlap between wave 1 and A. As a guideline the third wave shows the greatest momentum, except when the fifth is the extended wave.

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