eSignal 10 And Advanced GET Edition (Part 1)

Reprinted from Technical Analysis of STOCKS & COMMODITIES magazine. © 2008 Technical Analysis Inc., (800) 832-4642, http://www.traders.com

PRODUCT REVIEW

INTERACTIVE DATA CORP.eSignal3955 Point Eden WayHayward, CA 94545-3720PO Box 5028Hayward, CA 94545-5028Phone: Sales: 800 367-4670Fax: 510 266-6060Internet: www.esignal.comProduct: Datafeed provider andcharting softwareRecommendations: Windows 2000/XP; processor: 1.8 GHz Pentium IVor compatible; monitor: 17-inch orlarger monitor with 1024 x 768resolution; memory: 1 GB of RAM;drives: 40 MB available disk space,CD-ROM drive; web access: broad-band connection (for example, DSL,cable modem, T1 or T3) with Internetservice provider, Internet Explorerbrowser 6.0Data: Supports all data types includ-ing stocks, futures, options, forex, andindexes from North American,Europe, Asia and Australia.Price: Premier version monthly/annual subscription ranges from $95to $160; Premier Plus $160–195, plusexchange fees. Additional monthlyfees for access to futures, forex,market depth, news services, scan-ners, and third-party studies. Ad-vanced GET version, $3,995 (or$2,995 at seminars) to own with 30-day money-back guarantee. Data soldseparately. No monthly AdvancedGET subscriptions available to newusers.

calls to the broker, and end-of-day datawere sufficient to monitor trades ormake trading decisions. The rapidchange and high volatility that charac-terize today’s markets require accessto news, data, and research in the blinkof an Internet connection.

For years, eSignal has supplied thetools and services necessary to keepup with, and often ahead of, the de-mands of the trading community. Awell-known division of parent com-pany Interactive Data Corp., eSignalprovides a broad-based real-time quoteand charting program for stock, com-modity, foreign exchange, and mutualfund traders.

The company offers traders three pro-gram choices: the standard programknown as the Premier version; the Pre-mier Plus version, which adds an op-tions component; and with version 10,an Advanced GET Edition, which in-cludes not only all the features of both

eSignal 10 AndAdvanced GET Edition (Part 1)

the Premier and Premier Plus versions,but a range of proprietary trading toolsand program components not availablein any other software package.

The product review will be presentedin two parts. This month, part 1 de-scribes the major components of theeSignal 10 Premier and Premier Plusplatforms. These versions may be leasedon a monthly or annual basis.

PROGRAM SCOPEGeared for both end-of-day and intradayonline investors, the program providesa platform that can access a substantialvariety of tools and services includingprice quotes, charts, indicators, news,research, scanners, alerts, backtestingcapabilities, custom study creation, andintegrated trading with several direct-access brokerages. eSignal also offers afull line of add-on products from highlyrespected technical traders.

The platform structure contains the

FIGURE 1: CUSTOMIZED WORKSPACE. Workspaces can be customized using any of the major programchoices in addition to using prebuilt templates. This one includes news headlines; a price chart that displays theKase pivot, a new study in version 10; an option chain; one of the stock scanners; time & sales information; anda quote window.

New technology, new tradingvehicles, and new tradingmethods have given rise toever more trading choices

and opportunities. Long gone are thedays when delayed quotes, frequent

by Barbara Star, PhD

http://www.traders.com/


QUOTE FIELDS52 Week High52 Week High Date52 Week Low52 Week Low DateAsk ChangeAsk Change (Percent)Ask ExchangeAsk PriceAsk SizeAsk Size TickAsk TickAsk YieldAssets (Fund)Average VolumeBase CodeBase Code of Bid/AskBeta (5 yr monthly)Bid ChangeBid Change (Percent)Bid ExchangeBid Price

Bid SizeBid Size TickBid TickBid YieldBid/Ask SpreadChangeCommentContract HighContract High DateContract High VolumeContract LowContract Low DateContract Low VolumeCouponCurreny CodeCurrent RatioCusip NumberDateDelay (minutes)DescriptionDiv Growth Rate (5 yr)Dividend

Dividend Amount RateDividend Growth RateDividend Growth Rate # of YearsDividend IntervalDividend YieldEarnings Per ShareEPS Primary incl Extraordinary itemsExchange ListedExchange TradedEx-distribution dividend dateExercise StyleExpiration DateExtended Hours ChangeExtended Hours Change (Percent)Flags, SpecialFund DayFundamental data Updt dateGrowth Rate # yrs (Adj Income Avail)Growth Rate % (Adj Income Avail)Headline CountHighIndicated Annual Dividend

Issue DescriptionIssue Type CodeKassa PriceLast Trade PriceLast/Extended Hours

LastLowLT debt/equityMarket CapitalizationMaturity Average (Fund)Maturity DateMid PriceName of InstrumentNet Asset ValueNews Alert CountNews Alert TimeOpen InterestOpening PriceOpening Range, 2ndOption TypePayment Order Scaling

Factor

Payment Order ScalingFactor 2

Payment Type CodePayment Type Code 2PE RatioPercent ChangePrevious ClosePrice to BookRev Growth Rate (5 yr)Revenue - Most recent

fiscal yearSecurity StatusSettlement DateSettlement PriceShares OutstandingSOES SizeTick/Closed/SettlementTime of Trade (BB Only)Time of Trade (New)Time of UpdateTrade ConditionsTrade Size

Trailing 12-Mo CashFlow/Share

Trailing 12-MoDepreciation Exp

Trailing 12-Mo EBITDTrailing 12-Mo Rtn on

Avg Commn AssetsTrailing 12-Mo Rtn on

Avg Commn EquityUnderlying SymbolUniqueness CodeUp/Down TicksVolume (10 day Avg)Volume (Electronic)Volume Weighted

Average PriceVolume, CumulativeXDividend DateYieldYield, 7 Day (Fund)Yield, Effective 7 Day

(Fund)

tools, but the input that fuels the programsuch as quote data, news, and marketdepth comes from outside sources, andeach is available on an á la carte subscrip-tion basis. This review assumes that a userhas subscribed to all available services.

New users might find such a sophis-ticated program daunting to use, but thecompany helps make it manageable andshortens the learning curve by provid-ing a series of step-by-step orientationtutorials, live interactive online semi-nars, and archived articles and videosaccessible from within the program. Inaddition, technical support is availableevery day that the market is open from5:00 am to 4:30 pm Pacific time.

CORE FEATURESInstallation is a simple download fromthe eSignal website. Data is stored oneSignal servers and available only viathe Internet. However, it is possible toexport symbols and data to an Excelspreadsheet.

With the click of an icon, users haveaccess to all the major program featuresthat can be selected to customize theirworkspace and then saved as separatepages or templates for application to allsymbols. Figure 1 shows some of thosefeatures on a customized workspace.To the left of Figure 2 is the sidebar“New windows,” which displays a listof all the major program choices.

Quotes: All program versions comeloaded with data from dozens of in-dexes. For the price of exchange fees,and in some cases access fees, subscrib-ers may select data from all the majorUS stock and commodity exchangesincluding the cash forex market, plus

the Canadian, European, and Asian ex-changes. The program can display 10 to20 years of historical data, 120 days ofintraday data, and 10 days of tick data.

The basic quote window accommo-dates unlimited symbols with the abilityto view 200 at a time. Its flexible spread-sheet format permits the user to createseparate categories of trading vehiclesand also to monitor the issues in thosecategories by choosing from a long listof price and fundamental fields. Seesidebar, “Quote fields.”

Additional quote displays include aquote board, summary window, detailwindow, and even a customizable tickertape. The basic quote window plus sev-

NEW WINDOWSAdvanced ChartChat WindowDashboardDetail WindowEFS LibraryFormula EditorIntegrated Trading

WindowLeadersMarket DepthMarket ProfileNews ManagerOption ChainOptionsPlusOrder Entry Ticket

FIGURE 2: QUOTE DISPLAYS. Here you see the basic quote window plus several other types of quote displays.Choose from many different displays including the customized quote ticker at the top of the workspace. The mainquote window seen on the left can be divided into various categories such as ETFs, futures, mutual funds, forex,and others, making the symbols in those categories easy to locate.

PortfolioQuote BoardQuote WindowReport WindowScannerStandard ChartStretch ChartSummarySymbol SearchTicker (Alert)Ticker (Market Maker)Ticker (News)Ticker (Quote)Time and QuotesTime and Sales



Market Depth: Level II bid/askquotes from US market makers is avail-able in the Market Depth window and,with version 10, eSignal also includesCanadian market depth. Flashing back-ground colors change to identify thebest bid and ask prices. Trades in theticker window are color-coded for fivelevels of market depth. Other optionsallow traders to view both regional bid/ask offers from specific exchanges andsingle book market depth from specific

eral other types of quote displays areseen in Figure 2.

A time & sales window offers a morecomprehensive look at the price flowand patterns of an individual stock orcommodity not only for the current trad-ing day but for any trading day duringthe past 10 days. Information may beconfigured to include time, exchange,price, size, bid and ask. And for fasteranalysis, up ticks and down ticks arecolor coded.

FIGURE 3: TIME & SALES AND MARKET DEPTH. Here you can get a more comprehensive look at the priceflow and patterns of an individual stock or commodity. Five levels of market depth bid/ask prices can be viewedon Level II, regional, or single book. Time & sales information is accessible for the past 10 days.

market makers. Figure 3 presents bothtime & sales and market depth examples.

Options: Options traders will bepleased to learn that they have not beenforgotten. Premier Plus and the eSignalAdvanced GET program are equipped toreceive option data and in this versioncontain an option chain filter that iscustomizable for viewing in-, near-, andout-of-the-money options as well as fora single-sided (put or call) option set-ting.

In addition to the bid/ask quotes atthe various strike prices, traders mayalso view implied volatility, intrinsicvalue, the greeks, and the expirationdates. One especially helpful feature isthe ability to automatically display aquote or detail window of the underly-ing equities for the options of interest.Link that to a price chart on the samepage the way I did in the workspace inFigure 1 and you’re in business.

Charts: eSignal provides standard,advanced, and stretch charts to all users.Market Profile charts are also availablefor an additional fee. (See Figure 4.)One of the many time-saving (that is,fewer keystrokes) features is a color-coded linking system between quotesand charts that allows any symbol in thesame color group to show the desiredquote, chart, and time intervals simulta-neously.

Stretch charts are a new feature inversion 10. These are line charts thatexpand during the day within a selectedtime frame. They focus only on thecurrent trading day and are a favorite offloor traders and other professionals whouse them to quickly identify developingprice patterns.

Standard charts have fixed timeframes for intraday and end-of-day timeintervals and provide access to widelyused indicators. However, they alsocontain several unique options such asinterval, time and volume, or price andvolume displays.

Advanced charts offer the mostchoices in terms of price styles, tickcharts, times templates, custom formulacreation, and backtesting capabilities.

The charts also come with a fullcomplement of user-customizable Fi-bonacci price and time tools as well as

PRODUCT REVIEW

FIGURE 4: CHART TYPES. Three types of charts are included with the program: a standard chart (upper left)that can show time & volume as well as bar charts; a stretch chart (lower left), and an advance chart (upper right).A Market Profile chart (lower right) is another option.


FIGURE 5: STOCK SCANNERS. Scanners can make it easy to find profitable trading candidates. In addition tothe Advanced GET scanner, eSignal offers four other scanners, each of which serve a different purpose.

needs, eSignal also offers subscriptionsto more than two dozen news sources.

Alerts: You never have to miss atrading opportunity with alerts that popup, trigger a sound, or even give a heads-up by email. Alerts may be tied to al-most anything; not only price and vol-ume as might be expected, but also aspecific time, news, trade size, indi-vidual symbol, or globally for everysymbol in a layout. Want to see largeblock trades or a moving average cross-over? Just set an alert. And if you wantto place a trade when the alert is reached,click Execute Trade and your onlinetrading service will open automatically.

Taking Action: Traders who have anaccount with a direct-access brokeragefirm that supports eSignal’s integratedtrading feature can trade directly fromwithin eSignal. Those who use other bro-kerage firms but trade via the Internet mayuse the browser to connect to the broker-age website from the Trade button. Typi-cal of eSignal’s design that enables fastand easy access, trades may be initiatedfrom several places within the program,be it from a quote window, market depthpage, advanced chart, or portfolio.

Use the paper-trading feature to testout a strategy in real time before riskingreal money. The paper-trading featuresimulates trade action and lets the tradertrack the results without actually con-necting to a broker.

For trades already placed, use thePortfolio to enter entry and exit datesand the number and cost of shares orcontracts bought or sold. Entries updatein real time to keep traders informed ofthe equity value of their holdings.

Taken Together: eSignal 10 is a full-featured, flexible program filled withall the key elements that real-time trad-ers want in order to find, analyze, moni-tor, and execute their trades. I especiallyappreciate the ease of customizing andlinking the various program elementstogether to make quick work of locatingand organizing massive amounts of in-formation. Clearly, eSignal’s Premier

eSignal 10 is a full-featured, flexibleprogram filled with allthe key elements thatreal-time traders want.

a list of commonly used indicators suchas the moving average convergence/divergence (MACD), stochastics, therelative strength index (RSI), and direc-tional movement. All studies can beapplied to multiple tick charts forintraday swing trades.

A new study, volume-weighted aver-age price, was added to the current ver-sion as were several free and paid powertools from trader–analysts Jan Arps,John Bollinger, Joe DiNapoli, TeresaLo, and Cynthia Kase. If that’s notenough there’s plenty more in a librarythat contains dozens of other studies, oryou can create your own with the Java-based EFS editor.

Advanced charts also contain a bar ortick replay tool that allows you to jumpback to any portion of the price chart andlet the program walk you forward bar bybar. It’s a great way to watch how indica-tors and trades set up for entries and exitsas if you were in real-time.

EVEN MORE FEATURESSo, you ask, now that you have quoteand chart capabilities, what should youtrade?

Scanners: eSignal offers four real-time stock scanners that make it easy tofind potentially profitable trading can-didates (see Figure 5). Use the premarketscanner before or just after the openingbell to search the NASDAQ market byeither percent or dollar gainers and los-ers, by volume, or by dollar volume. Byusing a filter of price range, sector, IPOs,exchange, volume, and market capitali-zation, the Power scan sorts market ac-tivity by price gainers and losers, vol-ume, bid/ask spread, and breakouts ofprevious highs or lows. The Hot Groupsscan locates rising and falling sectorsthroughout the trading day; simply clickon any Hot Group to view the stockswithin it. The Rally scan is designed toseek out rallies or uncover breakouts atcritical junctures such as following thefirst hour of trading or during the lasthour of trading.

News: Traders need quick access toinformation about changes that affectthe issues they are monitoring as well asbreaking news that might offer othertrading opportunities. For many trad-ers, one basic news service may be allthey need. But to meet more specific




and Premier Plus versions offer tradersa first-class platform that meets diversetrading needs.

WAIT, THERE’S MORE:ADVANCED GET FEATURESeSignal acquired the Advanced GET

program from its developer, TradingTechniques’ Tom Joseph, in the early2000s. With its innovative indicatorsand studies, the program added bothdepth and breadth to the eSignal plat-form. Over the years eSignal has addedtwo other components — the AdvancedGET scanner and the Dashboard — bothdesigned to be used in conjunction withAdvanced GET tools and strategies. Untilthe past year, each of the componentsrequired a separate subscription. Theversion 10 Advanced GET Edition not

PRODUCT REVIEW

only includes every feature of the Pre-mier and Premier Plus versions, but alsobrings all the Advanced GET compo-nents together in one powerful inte-grated package. Further, program own-ership comes with three months of in-teractive online instruction that teachesspecific, successful trading strategiesusing a combination of tools availablein both the version 10 and AdvancedGET package. Not only that, currentlythere are no charges for upgrades.

In part 2, I will examine more Ad-vanced GET features. These include theirElliott wave and Gann studies, the Ad-vanced Get Line toolbar, the AdvancedGET scanner and their dashboard, aswell as some other interesting tools.Stay tuned.

Barbara Star, who is a frequent con-tributor to STOCKS & COMMODITIES,trades part time and provides individualinstruction and consultation to thoseinterested in the technical analysis ofthe financial markets. She can bereached at 818 224-4070 or via email [email protected].

SUGGESTED READINGPeterson, Dennis D. [2005]. “Advanced

GET,” product review, TechnicalAnalysis of STOCKS & COMMODI-TIES, Volume 23: September.

_____ [2003]. “eSignal 7.1,” productreview, Technical Analysis ofSTOCKS & COMMODITIES, Volume21: February.

S&C


PRODUCT REVIEW

INTERACTIVE DATA CORP.eSignal3955 Point Eden WayHayward, CA 94545-3720PO Box 5028Hayward, CA 94545-5028Phone: Sales 800 367-4670Fax: 510 266-6060Internet: www.esignal.comProduct: Datafeed provider andcharting softwareRequirements: The company recom-mends the following hardwarerequirements: OS: Windows 2000/XP;processor: 1.8 GHz Pentium IV orcompatible; monitor: 17-inch or largermonitor with 1024 x 768 resolution;memory: 1 GB of RAM; drives: 40 MBavailable disk space, CD-ROM drive;web access: Broadband connection(DSL, cable modem, T1/T3) withInternet service provider, InternetExplorer 6.0Data: Supports all data types includingstocks, futures, options, forex, andindexes from North America, Europe,Asia, and Australia.Price: Premier version monthly/annualsubscription ranges from $95–160 orPremier Plus $160–195, plus exchangefees. Additional monthly fees foraccess to futures, forex, market depth,news services, scanners, and third-party studies. Advanced GET version$3,995 (or $2,995 at seminars) to ownwith 30-day money-back guarantee.Data sold separately. No monthlyAdvanced GET subscriptions availableto new users.

by Barbara Star, PhD

Signal is a leading providerof real-time quotes, chart-ing, and information for thetrading community. Part 1of this review dealt with the

features available to traders who sub-scribe to eSignal version 10. That ver-sion offers a platform that gives tradersaccess to a full range of tools and ser-vices, including real-time and end-of-day quotes for stocks, commodities,mutual funds, options, and forex prices.It also incorporates charts, indicators,news, research, scanners, alerts,backtesting capabilities, custom studycreation, and integrated trading withseveral direct-access brokerages. Someof those features can be seen in thecustomized workspace in Figure 1.

For many traders the basic platformfits the bill for their trading needs. Butfor traders who want to kick it up anotch with indicators and strategies notavailable elsewhere, eSignal also offersthe Advanced GET Edition. The Ad-vanced GET Edition contains all the fea-tures of eSignal 10, but unlike the basicplatform that can be leased on a monthlyor annual basis, the Advanced GET Edi-

tion is only available by pur-chasing the software. As withthe standard version 10, dataand exchange fees are extra.

The “GET” in AdvancedGET stands for “Gann andElliott Trader.” The programcontains proprietary toolsbased on Gann, Elliott, and

e

eSignal 10 And AdvancedGET Edition (Part 2)

FIGURE 1: CUSTOMIZED WORKSPACE. This customized workspace illustrates some of the major features ofeSignal 10. It includes news headlines; a price chart with indicators; an option chain; one of the stock scanners;time & sales information; and a quote window.

Fibonacci calculations that may be usedon any price chart and in any time frame.With such broad applicability, it is equallyappropriate for use by mutual fund trad-ers as by currency traders and by intradaytraders as well as swing traders and long-term investors. The package includestwo other components — the AdvancedGET scanner and the dashboard — bothof which are designed to be used inconjunction with Advanced GET toolsand strategies.

Installation is a simple download fromthe eSignal website or from a CD. Datais stored on eSignal servers and avail-able only via the Internet.

New purchasers receive a CD thatcontains program installation files, PDF

files that explain each of the studies andtools contained in the Advanced GET

program, and a book titled eSignalLearning Foundation Course. The bookstarts out with the basics of fundamen-tal and technical aspects of trading,



progresses to a clearly written chapteron trading and risk management, andends with a series of trading techniquesand strategies that form the basis of thefoundation course. Those strategies areexplored in depth during three monthsof interactive online instruction (in-cluded with the purchase price) by spe-cially trained Advanced GET mentorswho not only talk the talk, they alsowalk the walk as traders who use Ad-vanced GET tools.

ADVANCED GET STUDIESOne of the most notable program fea-tures is the ability to label Elliott wavecounts on the price chart. Some soft-ware programs require the user to selecta starting point for calculating the wavecount. Not so in Advanced GET; itsalgorithms do it automatically. Usersmay choose to label all major, interme-diate, and minor wave counts, or just themajor and intermediate counts, or viewonly the most recent projection. All thecharts that label the Elliott wave countsin this review were done using the origi-nal default wave count. But traders mayalso try one of three alternate wavecount choices: aggressive, short term,or long term.

Elliott waves are patterns based onprice relationships that are fluid ratherthan static. The algorithms that Ad-vanced GET uses to label Elliott wavesare dynamic ones that can change asprice conditions change.

When the program locates what itconsiders to be a wave 4 correction, itdisplays a profit taking index (PTI) thatranges from zero to 99 and a series ofthree different-colored wave channellines. These help determine the prob-ability that price will go on to completea fifth wave. For example, if by the endof wave 4 the profit taking index regis-ters 35 or above and if the price has notpenetrated the three colored lines of thewave channels, there is a higher prob-ability that the fifth wave will unfold.

Figure 2 illustrates the Elliott wavelabels and the beginning of a pullbackinto a possible fourth wave with thecommodity, corn. March 2008 cornlooked as if it were beginning to take abreather after a huge three-month rally.

The algorithm identifies two potentialstopping points for the completion ofwave 4. If that wave completes success-fully, the number “4” will appear in ablue circle on the price chart.

As with any tool, it is important tolearn how it operates in real time and toconfirm its accuracy. Numerous re-sources in eSignal make this relativelyeasy to accomplish. For example, set-ting the replay bar to an earlier point inthe price chart and watching each newbar appear on the screen allows newusers to get a feel for the flow of pricemovement and the way wave countsdevelop. Applying the GET oscillator whenthe Elliott counts are displayed helps con-firm or negate the wave count. Using theElliott trigger indicator can confirm thecompletion of a fourth-wave retracement.Utilizing Fibonacci extensions or thebreaking of a Gann angle can help identifypossible wave-ending price areas.

Gann lines and price pivots are alsoautomated. The auto Gann feature scansthe data on the chart for those Gannlines most relevant to the current priceaction. The resulting angles providesupport and resistance levels. Withinauto Gann is an optimization optionthat, if selected, can override the defaultsetting to find the best angles for thespecific chart being analyzed.

Based on a combination of Gann andFibonacci calculations, pivots are a pro-

prietary indicator that labels primary,major, intermediate, and minor price turn-ing points. (See Figure 3.) Pivots play asignificant role in identifying starting orending points when using other programfeatures such as Gann angles, Gann boxes,ellipses, or regression trend channels.

OTHER UNIQUE STUDIES• False bar stochastic: Traders who usea stochastic indicator know how valu-able it can be in identifying overboughtand oversold conditions in trading rangemarkets. Chances are, however, theyhave also gotten caught when the indi-cator gave a false signal while priceswere trending. The GET stochastic elimi-nates some of those fakeout signals byplacing a solid line above or below thestochastic indicator whenever its cal-culations identify that price is trending.It warns that the top or bottom reversalhas not yet occurred. It also offers aterrific trading opportunity that is oneof the strategies taught by AdvancedGET trainers.

• GET oscillator: A price oscillatorshows rising and falling momentum.The GET oscillator displayed as a histo-gram helps identify and confirm thewave counts. Overlaid on the oscillatorare breakout bands. If the program islabeling a movement in the market as awave 3, the Elliott oscillator should be

FIGURE 2: MARCH 2008 CORN WITH ELLIOTT WAVE COUNTS. The daily March corn chart displays the initialstages of an Elliott wave 4 pullback with the profit taking index (PTI) of 57 and blue, green, and red wave channels.The GET stochastic in the lower window with a horizontal false bar above it signifies price has been trending andmay resume trend following the correction. The GET oscillator in the lowest panel confirmed the wave 3 pricemove and the current loss of momentum.

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above the breakout bands. (See Figure2.)

Both the false bar stochastic and theGET oscillator appear as indicators be-neath the price chart of March 2008corn in Figure 2. The horizontal line thattravels across the stochastic indicatorfrom December 2007 through January2008 indicated that price was in a trend-ing mode. This was confirmed by theGET oscillator, which moved above itsbreakout band by the second week inDecember.

• Expert trend locator (XTL): Tradingwith the trend usually brings big re-wards, but first you have to know whenprices are trending. The calculationsunderlying the XTL serve to separateprice trends from general market noise.Blue bars indicate an uptrend, red barsa downtrend. Not only does this indi-cator identify trend but it can serve asan early entry into the lucrative andhighly coveted Elliott wave 3.

Figure 3 shows the XTL on a dailyQQQQ price chart along with pivot turn-ing points and Gann tools. The XTL

remained blue from late August intoNovember as price climbed higher. Itchanged to red at the end of the firstweek of November, warning of a pos-sible downturn.

• Bias reversal: The bias reversal indi-cates a potential change in trend point.

A bias reversal triangle that appears atthe top of the price chart indicates apotential change in trend and that themarket should move down. The oppo-site is true when the bias reversal tri-angle is at the bottom of the chart.

• Price clusters: Price clusters showareas where Fibonacci extensions andretracements tend to cluster in a giventime period. The longer-length bars arethe areas where the most price activitytook place. These bars are areas of sup-port and resistance.

• Time clusters: Time clusters repre-sent the relationship of Fibonacci timeextensions to every pivot point combi-nation on price. Time clusters are bestused either to call attention to a poten-tial approaching change or to confirmthat a change has occurred. One is usedas an indicator under the QQQQ pricechart in Figure 3.

Some of the other studies and indica-tors include auto trend channels, a rela-tive strength index (RSI) with dual mov-ing averages, “TJ’s web,” which is meantto identify support and resistance areasfor the next day or next price bar, and

the “JTI,” which identifies trend strength.For some reason, a non-GET indicator,Woody’s commodity channel index(CCI) trend, was added into this versionof the Advanced GET studies list.

ADVANCED GET LINE TOOLBARA separate advanced line toolbar con-tains six special tools — Gann angles, aGann box, ellipse, Andrews pitchfork,PTI, Fibonacci time price locator, andthe “make or break” (MOB) tool. Unlikethe GET studies that are fully automated,the tools on the advanced line toolbarare only partially automated and requirea manual starting or ending point. Aright-click on the icon of any study ordrawing tool selection will bring upboth the customizable portions of thetool as well as a help button that takesyou directly to a separate AdvancedGET list of help topics. Each topic con-tains an explanation of the function andapplication of that study or tool.

The Gann angles and the Gann boxcan be applied manually from a pivotpoint or a bar high or low to displaysupport and resistance. Minor, interme-diate, major, and primary pivots servedas the starting point for the Gann boxand Gann angles displayed in Figure 3.

The time and price squares are deter-mined by Gann values for time and Fi-bonacci values for price and may be usedfor identifying potential reversal points.

The program even adds somethingnew to the familiar Andrews pitchforktool. It creates parallel upper and lowerlines to better capture price movementsoutside the original lines that run paral-lel to the median line. And during steepretracements, click the modify button toautomatically adjust the direction andspacing of the lines.

The same PTI tool used to automati-cally calculate the probability that afifth wave will resume after a wave 4retracement can now be applied manu-ally in an area that is not identified as afourth wave by Advanced GET.

PRODUCT REVIEW

FIGURE 3: QQQQ ETF WITH ADVANCED PIVOTS AND GANN TOOLS. The QQQQ with the trend locating redand blue XTL price bars are used in conjunction with automatic pivot points. Those pivots labeled on price serveas reference points from which to begin the Gann box and Gann angles found on the Advanced GET line toolbar.The time clusters in the window below the chart is a study that projects potential price reversals into the future.

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Gann box

Gann angles

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Pivots

Active traders with an interest in using Elliottwaves, Fibonacci, and Gann tools might want totake this out for a test ride.



However, the ellipse and the MOB

play especially important roles be-cause they frequently are used in con-junction with the strategies taught inthe foundation course. Both studiesuse prior price points to predict futureprice reversals.

The ellipse (which was named for itsshape), is based on both price and timeand often used to identify the endingpoint of a corrective Elliott wave 4.Usually drawn from high-to-low or low-to-high pivot points, it is a dynamic toolthat can change position on the pricechart in relation to price changes until itintersects with price. The ellipse hasdifferent lengths depending on the lengthof the trend. An ellipse that is filled withcolor is the normal length. The longer-term ellipse is outlined but hollow, show-ing only the chart background.

The function of the MOB tool, whichstands for “make or break,” is to projecta target price area where an Elliottimpulse wave, such as a wave 5, mightend. Price will either hit (“make”) theprojected target and reverse or elsepush through it (“break”) to indicate apotential wave extension in the mak-ing. The projected price target area isidentified by a dual colored horizon-tal line. The black vertical markerswithin the horizontal bar suggest themost likely time period.

Figure 4 illustrates the ellipse andMOB projections on a daily chart of theDow Jones Industrial Average (DJIA)from July 2007 to early January 2008. Aclick of the MOB tool on the July pricehigh projected the October price andtime for the wave 5 completion. A clickon the August lows suggested a MOB lowor price reversal sometime in January.The ellipse taken from the March wave 2low to the wave 3 high in July projectedthe August wave 4 low. Another ellipsetaken from the fourth-wave August lowto the fifth-wave October high projectedboth the normal and longer-term ellipsesfor the November declines.

THE ADVANCED GET SCANNERThe Advanced GET scanner is free forone year to software purchasers. Afterthat, it is available on an annual sub-scription basis.

In its simplest form, the scanner cansearch for six different buy/sell conditionsin the five different time frames shown inthe upper portion of the scanner.

Select any of or all of the 15-, 30-, 60-minute, daily and weekly intervals tofind stocks that fall into the category ofa GET stochastic buy or sell, or an XTL

buy or sell, or a moving average con-vergence/divergence (MACD) histo-gram buy or sell. Set the search for“All” to bring up a results list of allstocks and initial public offerings (IPOs)listed on the three major US exchangesor, if the user chooses, only stockswithin one of those exchanges. Set-tings for sorting (for example, by sym-bol, volume, percentage gainers, andso on), minimum and maximum price,average volume, and specific industrygroups are also available.

The scan takes only a few seconds toproduce a list of results. Click on thechart icon next to the stock symbol tobring up the stock chart itself in theappropriate time frame. Click on someor all of the symbols on the list andexport them directly to the dashboardmodule for further monitoring. (SeeFigure 5, Advanced GET scanner.)

If that were all it could do, it probablywould satisfy most traders, but the GET

scanner can do much more. As usersbecome comfortable in their use of theprogram they might experiment with

the technical analysis section below theresults list. In this section the scan canfilter by relative strength (not to beconfused with the RSI) for those stocksthat are performing above or below amarket index or industry sector.

The other category in that section istitled “Studies.” It contains additionalprebuilt scans that search for possibleType 1 continuation, Type 2 reversals,buying/selling with the trend, stochas-tic buys and sells, and XTL breakouts.

Select up to three additional filtersfrom Elliott wave counts, directionalmovement indicators, MACD crosses,classic stochastic, oscillator pullbacks,trend channel breaks, profit taking in-dex, and moving averages. Further re-fine the scan by cross-referencing withthe same list of options from the X-Refbox to create a filter on top of a filter.These filters can be especially helpfulfor checking out the conditions in twodifferent time frames such as daily andweekly. Users can even createstandalone scans just using those filters.(See sidebar “eSignal Advanced GET

scan filters.”)A few other categories in the scanner

are also worth mentioning here. In the“Additional filters” section, one of thechoices is “Average range.” This identi-fies the average price range over the pastthree days. Users may select a three-dayaverage that ranges from 25 cents to $5.

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FIGURE 4: THE DOW JONES INDEX WITH ELLIPSE AND THE MOB STUDIES. Both the XTL blue and red pricebars plus the Elliott wave counts are on the DJIA chart. An ellipse taken from a wave 2 low (not shown) to thewave 3 high in July projected the August wave 4 low. Another ellipse taken from the wave 4 August low to thewave 5 October high projected both the normal and longer-term ellipses for the November declines. In July theMOB tool projected the October high and the August lows projected a MOB low or price reversal in January.



Option traders looking for volatility orstock traders interested in a potentialbreakout may find this filter useful.

The display options section includesa valuable visual clue titled “Empha-size.” It will color the symbol of anystock that has met the criteria within acertain time, which, at the users’ discre-tion, can range from 15 minutes to twodays. In Figure 6, I chose the 15-minuteoption to receive an early alert of achange. Users can also select to empha-size time frame convergence, which willcolor the time column of the symbolwhen some or all of the five time frames

that were selected are in sync.And finally, either a single stock or

all of the stocks on the results list can besent to the dashboard module or ex-ported to a spreadsheet.

THE DASHBOARDThe trend toward short-term trading, bethat intraday or swing, makes the use ofmultiple time frames almost manda-tory. The dashboard gives a quick red,green, or yellow color-coded thumbnailoverview of price action in five differ-ent time frames simultaneously. (SeeFigure 7.) With its visual displays shaped

like domes or half circles, thisinnovative tool can monitor upto any 20 symbols (not juststocks) in five-, 15-, 60-minute,daily, and weekly time framesat once. That’s a lot more man-ageable and time-saving thanflipping through an equivalent100 charts manually. Click onany time frame to bring up achart of that same time frame.Use the dashboard for a whileand it may become as indis-pensable as your cellphone orBlackBerry.

In this version the time framesare at fixed intervals. Hopefully,future versions will incorporatethe flexibility found in so manyof the other modules of theeSignal platform and allow foruser-defined time periods.

The dashboard contains fourstrategies that correspond tothose available on the scannerand also to the four main strate-gies taught in the foundationcourse. When using an XTL strat-egy the dashboard gauges turngreen in those time frames whenprices are in an uptrend, red whenthey are in a downtrend, andyellow when they are neutral.

Some clever programmingwent into the GET stochasticdashboard strategy. The displayis green when the stochastic isoversold and potentially readyto rise. The display is red whenthe stochastic is overbought and

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FIGURE 5: THE ADVANCED GET SCANNER. This scanner is designed to find those stocks that meet the conditions in severaltime frames for the major strategies taught in the foundation course. It also may be used on its own to find stocks that meeta variety of other conditions.

getting ready to turn down, and thedisplay is yellow when it is in betweenthe two extremes. But to let the traderknow that a false bar is active (whichwarns that it may not be wise to followthe stochastic indicator in that timeframe), it colors the curved rim of thedisplay white. So a red gauge capped inwhite indicates that the upward trendmay be ready to correct, but not toreverse. By the same token the displayis green with a white cap when it isoversold but still in a downtrend and notready for a major reversal.

The GET stochastic is the dashboardstrategy displayed in Figure 7. As that

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figure illustrates, once a potential tradeis identified, it is a simple matter todisplay a chart and then either place atrade or buy an option.

The gauges in the Type 1 dashboarddisplay turn green when all the conditionsfor the Type 1 Elliott fourth-wave con-tinuation strategy to the downside havebeen met and price is ready to enter a fifthwave to the upside. The gauge is red whenall the conditions have been met for the

continuation strategy to the downside.In the same vein, the display is green

when all conditions are met for a com-pleted Elliott fifth-wave move to thedownside and price is ready to begin anew move up. The display is red whenthe fifth-wave reversal to the upside hasbeen completed and price is ready toreverse to the downside.

Because I like to monitor many typesof trading vehicles, I created a dash-

board that holds the commodity sym-bols I follow on a regular basis andsaved them as a separate page that couldbe brought up at any time. I also createdseparate pages for exchange traded funds(ETFs), and the major foreign exchangecurrency pairs. Then when I call up eachpage, I run the symbol list through eachof the dashboard strategies to see which,if any, of the strategies might be work-ing. It’s that fast and that easy.

FIGURE 6: ADVANCED SCAN RESULTS. One option in the GET scanner colors the stock symbol yellow ifit had met the criteria within the past 15 minutes (which is the time selected for the example). The yellow inthe time column identifies when two or more time frames converge. Click on the stock symbol to bring upcharts in their respective time frames, in this case both the 15-minute and daily charts.

FIGURE 7: THE DASHBOARD. Using the GET stochastic strategy, the red 60-minute time frame of the stocksymbol ACL contained the white rim around its perimeter. That meant it was still in an uptrend even thoughthe stochastic was overbought. However, the shorter time frame suggested the pullback may have bottomedand price was ready to resume an uptrend. With that in mind it might be a time to check the option prices orconsider an outright purchase for a short-term trade.

eSIGNAL ADVANCED GET SCAN FILTERS

The user can combine standard studiesand indicators to create custom tradingstrategies from the following list:

ADX (Turn Up -4)Moving Average (Price above 6/4)

ADX (Turn Up -14)Moving Average (Price below 6/4)

DMI (Above -4)Moving Average (Price Cross above 6/4)

DMI (Below -4)Moving Average (Price Cross below 6/4)

DMI (Above -14)Moving Average (Price above 20)

DMI (Below -14)Moving Average (Price below 20)

Elliott Wave 3 UpMoving Average (Price above 50)

Elliott Wave 3Down Moving Average (Price below 50)

Elliott Wave 4Up Moving Average (Price above 100)


Elliott Wave 5Up Moving Average (Price above 200)


MACD (Above)Oscillator Pullback (Positive)

MACD (Below)Oscillator Pullback (Negative)

MACD (Cross Above)Oscillator Pullback to Zero

MACD (Cross Below)PTI > 35

Stochastics (Above 75)Regression Trend Channel Brk Up/Down

Stochastics (Below 25)XTL First Break Out Bar

Stochastic No False Bar (Above 75)XTL Down RED

Stochastic No False Bar (Below 25)XTL UP Blue



TRAININGGiven the many unique componentswithin the Advanced GET software itmight take new users a while to masterthe program by themselves. Fortunately,purchasers of the Advanced GET Edi-tion will experience an easier transitionusing the interactive online instructionand mentorship. And at the same timeusers are learning the basic GET tradingmethods, they are also learning how touse the Advanced GET scanner to locatethe stocks that meet the criteria for thosemethods, the dashboard for trading dif-ferent time frames, and an overview ofthe broader eSignal platform.

The once-a-week interactive founda-tion course helps users navigate throughthe Advanced GET features, learn basictrading strategies, and explore moneymanagement techniques. Those are thenapplied to actual trading situations. Inaddition, three-times-weekly smallgroup online mentorship sessions ad-dress specific trading issues brought upby the users. A total of seven hours ofcombined instruction and mentorship isavailable each week.

However, it doesn’t take months oreven weeks to learn profitable tradingmethods. These sessions are so wellstructured that they soon replace thesense of feeling overwhelmed by theprogram with a sense of being able totrade with purpose and focus. Thanks tothe step-by-step rules-based instruction,each strategy can be learned in a few

hours. A few practice sessions on avariety of charts will have the user feel-ing comfortable with both the programand the trading methods.

For example, one of the strategies iscalled a Type 1 continuation trade thatlooks for an Elliott fourth-waveretracement to end and a fifth wave toresume the trend. That method com-bines the GET oscillator, the PTI, thewave channels, and another indicator touse as an entry trigger. The instructorpoints out the essential elements of ahigh-probability trade and contrasts thatwith a low-probability trade so userscan zero in on the one that is most likelyto reap a reward and know when toavoid the other.

Another strategy doesn’t require anElliott wave count at all. Instead, itinvolves the GET false bar stochasticalong with a Fibonacci retracement, anda triggering tool so traders can hopaboard as the trend continues.

Yet another strategy uses the experttrend locator (XTL) to identify a pricebreakout. Once found, simply applyspecific Fibonacci extensions (no, notthe ones that project a top or bottom) toset entry and stop-loss levels.

All this and more are discussed in thefoundation course book, but come tolife during the online instruction as theyare applied to charts and real-time priceaction. Many of the foundation courseshave been recorded and are availablefor review.

SUMMARYThe eSignal, Advanced GET Editioncontains three highly useful components— the Advanced GET program, the Ad-vanced GET scanner, and the dashboardthat integrate well with each other andwithin the broader eSignal version 10framework. The Advanced GET Editionis far more than a collection of tools.With its unique automated studies,guided educational training, and the si-multaneous ability to scan and viewmultiple time frames, it has the poten-tial to take users well beyond the basicsand into a new realm of trading. Eventhough it is a high-ticket item, activetraders with an interest in using Elliottwaves, Fibonacci and Gann tools mightwant to take this out for a test drive.

Barbara Star is a frequent contributorto STOCKS & COMMODITIES. She tradespart time and provides individual in-struction and consultation to those in-terested in the technical analysis of thefinancial markets. She lives in SouthernCalifornia and can be reached at 818224-4070 or by email [email protected].

SUGGESTED READINGStar, Barbara [2008]. “eSignal 10 and

Advanced GET Edition (Part 1),”Technical Analysis of STOCKS &COMMODITIES, Volume 26: March.

S&C

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Documents

eSignal 10 And Advanced GET Edition (Part 1)