An algorithm for Elliott Waves pattern detection

The examination of the Elliott Wave theory is the main motivation of this contribution. All of the fundamental features of an proper Elliott Wave pattern (EW pattern) are reviewed and explained. Based on this knowledge, an algorithm for detection of these patterns is designed, developed and tested....

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Main Authors: Vantuch, T., Zelinka, I., Vasant, P.
Format: Article
Institution: Universiti Teknologi Petronas
Record Id / ISBN-0: utp-eprints.21968 /
Published: IOS Press 2018
Online Access: https://www.scopus.com/inward/record.uri?eid=2-s2.0-85044381036&doi=10.3233%2fIDT-170319&partnerID=40&md5=019a16d27179ccd3276ae937962a2af0
http://eprints.utp.edu.my/21968/
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spelling utp-eprints.219682018-08-01T01:10:21Z An algorithm for Elliott Waves pattern detection Vantuch, T. Zelinka, I. Vasant, P. The examination of the Elliott Wave theory is the main motivation of this contribution. All of the fundamental features of an proper Elliott Wave pattern (EW pattern) are reviewed and explained. Based on this knowledge, an algorithm for detection of these patterns is designed, developed and tested. Under several different algorithm settings, several EW pattern sets are obtained. They differ in amount of found EW patterns, quality and size. The following application of the developed detection algorithm was based on recognition of an incomplete EW patterns with aim of the prediction of the following progress of the time set. The Random Decision Forest and the Support Vector Machine are the machine learning algorithms employed for this task. The accuracy of trend prediction above 70 proves the relevancy of EW patterns on stock market data as well as the validity of the algorithm as a tool for detection of such patterns. © 2018 - IOS Press and the authors. All rights reserved. IOS Press 2018 Article NonPeerReviewed https://www.scopus.com/inward/record.uri?eid=2-s2.0-85044381036&doi=10.3233%2fIDT-170319&partnerID=40&md5=019a16d27179ccd3276ae937962a2af0 Vantuch, T. and Zelinka, I. and Vasant, P. (2018) An algorithm for Elliott Waves pattern detection. Intelligent Decision Technologies, 12 (1). pp. 15-24. http://eprints.utp.edu.my/21968/
institution Universiti Teknologi Petronas
collection UTP Institutional Repository
description The examination of the Elliott Wave theory is the main motivation of this contribution. All of the fundamental features of an proper Elliott Wave pattern (EW pattern) are reviewed and explained. Based on this knowledge, an algorithm for detection of these patterns is designed, developed and tested. Under several different algorithm settings, several EW pattern sets are obtained. They differ in amount of found EW patterns, quality and size. The following application of the developed detection algorithm was based on recognition of an incomplete EW patterns with aim of the prediction of the following progress of the time set. The Random Decision Forest and the Support Vector Machine are the machine learning algorithms employed for this task. The accuracy of trend prediction above 70 proves the relevancy of EW patterns on stock market data as well as the validity of the algorithm as a tool for detection of such patterns. © 2018 - IOS Press and the authors. All rights reserved.
format Article
author Vantuch, T.
Zelinka, I.
Vasant, P.
spellingShingle Vantuch, T.
Zelinka, I.
Vasant, P.
An algorithm for Elliott Waves pattern detection
author_sort Vantuch, T.
title An algorithm for Elliott Waves pattern detection
title_short An algorithm for Elliott Waves pattern detection
title_full An algorithm for Elliott Waves pattern detection
title_fullStr An algorithm for Elliott Waves pattern detection
title_full_unstemmed An algorithm for Elliott Waves pattern detection
title_sort algorithm for elliott waves pattern detection
publisher IOS Press
publishDate 2018
url https://www.scopus.com/inward/record.uri?eid=2-s2.0-85044381036&doi=10.3233%2fIDT-170319&partnerID=40&md5=019a16d27179ccd3276ae937962a2af0
http://eprints.utp.edu.my/21968/
_version_ 1741196550281887744
score 11.62408

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