Best set up

Essaidovski

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Hi ,
what is your best setup for EW ?
Several times I had completely contradictory results when I use two different UT (1 h versus 4 h or 4h virus 1day ) .
For exemple this week the big Ew (daily) told me a big consolidation but the analysis of EW 4h or 1h give me result of big impulsion 🤨🤔🤔.
Thanks a lot .
 

igor.s

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The issue you are describing is not specific to EW. This is a common issue when it comes to different timeframes. There is no best timeframe per se. What is best for me won't be necessary best to somebody else. You find a timeframe that works for you and all your analysis should be done on that timeframe. Otherwise you would always run into the timeframes conflict. Find the timeframe that fits your trading style and do backtesting to confirm your way of analysis. The MW platform offers an awesome backtesting.

Cheers,
Igor
 

Essaidovski

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Hi Igor ,
Yes I know . But I was surprised when the result of my EW analysis (4h) completely contradictory to that one daily 🤔.
Thanks a lot . I'll focus on the analysis of one TU . 👍
 

MotiveWave_Leigh

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Each timeframe is a different chart with a different data set/number of bars being used to calculate the EW patterns, so they are not going to match. The auto EW tools, like Auto Analyze, Auto EW Study, use an algorithm based on the data provided to calculate the best pattern fit based on an algorithmic score.

When you change the timeframe, you are using a different data set, so you're going to get different results.

You would need to make sure that you started the analysis at the exact same Start Date and time on each chart (vs using the Data Window option: https://support.motivewave.com/knowledge-base/elliott-wave-data-window-vs-start-date/). You should see similar results between the charts if you do this, but even then, it's going to show some differences as the lower timeframes use more data points than the higher timeframes.
 
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