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# lib/sqa/indicator/elliott_wave_theory.rb
# TIDI: This is very simplistic. It may be completely wrong even
# as simplistic as it is. Consider using the sma_trend to
# acquire the up and down patterns. Run those through a
# classifier. Might even have to review the concept of a
# trend with regard to varying the periods to turn
# many small patterns into fewer larger patterns. Then
# maybe the 12345 and abc patterns will be extractable.
# On the whole I think the consensus is that EWT is not
# that useful for predictive trading.
class SQA::Indicator; class << self
def elliott_wave_theory(
prices # Array of prices
)
waves = []
wave_start = 0
(1..prices.length-2).each do |x|
turning_point = prices[x] > prices[x-1] && prices[x] > prices[x+1] ||
prices[x] < prices[x-1] && prices[x] < prices[x+1]
if turning_point
waves << prices[wave_start..x]
wave_start = x + 1
end
end
analysis = []
waves.each do |wave|
analysis << {
wave: wave,
pattern: ewt_identify_pattern(wave)
}
end
analysis
end
private def ewt_identify_pattern(wave)
if wave.length == 5
:impulse
elsif wave.length == 3
:corrective_zigzag
elsif wave.length > 5
:corrective_complex
else
:unknown
end
end
end; end
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