Make sure that you make 2 seperate lines for each function. You do this by copying the first line and saving it and then click "add rule" and the add the second line. You should have this when you're done (disregard the 1.0 bar at the top as u can use any size bar you choose) <a href=http://www.freeimagehosting.net/><img src=http://img3.freeimagehosting.net/uploads/d8979f4d2b.png border=0 alt="Free Image Hosting"></a> The second line should look exactly like this: <a href=http://www.freeimagehosting.net/><img src=http://img3.freeimagehosting.net/uploads/ba2f414ebf.png border=0 alt="Free Image Hosting"></a>
For the ongoing indicator project - go to Kreslik.com and look for TRO PLOT - simple indicator to plot up to seven user inputs. Use as input High for HOD, Low for LOD, (High+Low)*.5 for midpoint between HOD and LOD, (High+(High+Low)*.5)*.5 and (Low+(High+Low)*.5)*.5 for upper and lower midpoints respectively.
With all do respect this stuff is a totaly disservice to all that follow this threads originality! These are nothing more than distractions after distractions. Anek can correct me if he feels I am wrong and I will shut my pie hole.
Rn, In TS is HIGHD(0) and LOWD(0) so for Tradestation the correct inputs would be: Use as input HighD(0) for HOD, LowD(0) for LOD, (HighD(0)+LowD(0))*.5 for midpoint between HOD and LOD, (HighD(0)+(HighD(0)+LowD(0))*.5)*.5 and (LowD(0)+(HighD(0)+LowD(0))*.5)*.5 for upper and lower midpoints respectively. Good quick solution Rn. Anek
I have to agree. But, on the other hand, this thread is evolving due to the over-emphasis of its original point. I have to admit I got distracted, but I should be able to filter what I don't need and concentrate what I know I should be working on. Also, I believe a little deviation would be good for Anek as well. I think he's done a bang up job driving this topic. I'd hate to see him burn out. -Tech
Anek, First off, great journal. It is very rare to have someone share as unselfishly as you have- thank you. I have been reading as much as possible through this journal (gotten pretty big) and I have what is probably a dumb question for you: How specifically do you define a high or low? Is it a one bar reversal ie trending up, and then you get one down bar? Does it have to break the low of the previous bar? Does it have to be a 3 or 5 bar pivot? A certain point or percentage retracement? I know that 50% retracements are ideal, but obviously they don't always happen, especially in strong reversal trends that have very shallow retracements and are difficult to jump on. It may be an very silly question, and possibly answered elsewhere in the journal, but one I am interested to hear your views on. I have a method that I use for determing a high/low/pivot, and hindsight makes all things clear, but the hard right edge can make the clearest of things murky in the heat of battle. Thanks in advance. TJ
I find amazing value in Fibonacci Retracements. In fact, on Thursday due to this "distraction" you speak of, I managed to call the low of the NQ sell off with plenty of advanced noticed and was only off by 3 ticks using Fibonacci plus support and resistance values on the multi day charts. What are the odds on that when NQ was free falling? Perhaps Daniel who was present can post a log. You could say it was coincidence but after all these years trading I will tell you it is not because I see it time after time. On Friday, breaking .50% gave me a solid green light, breaking .618 solidified my suspicion of a possible full retracement, etc etc etc. These points of complacency are no joke my friend. I do agree that price is all you need and oscillators are distractions, no offense to anyone, but horizontal lines based on Fib for Zig Zag and S/R analysis is some serious powerful stuff and probably the only real "predictor" I've ever found in trading. It gives you sense of power, weakness, probable points of support and resistance and a whole lot of more stuff but running late for dinner The fact that you work with price alone speaks loudly of your skill but when it comes to "El Fibo" you are missing out and I suggest some serious research in math and probability. Anek
Yeah I have done tons of research on Fib #'s, Although I have to admit I use them to some aspect, but not in the main numerical ways most do. I basically use it in its simplest form to a fact of if the last pivot move up has retraced more than 50% then I loses interest in the trade on most scenarios. As far as the Nasdaq move on thursday I seen the initial point of the fall based on the BIDU comments then realized when the NQ's had filled the settlement GAP from Wednesday and the Spoo's still hadn't reached thursday low, that the Spoos where going to overexaggerate the NQ downturn due to the late reaction of the Spoo's. Fortunately I was not looking for any fib set-ups on that I was just simply waiting for the spoos to hit the key point and reverse which set both bottoms for the NQ's and Spoo's. I like to keep it simple as possible. Then again if it works you have to use it.
The Fibonacci multi day illustration I was analyzing on Thursday. BTW, to some the 61.80 is 23.60% but got the bad habit of drawing them always in the same direction, just thought I would clarify that. Anek PS: Typo on chart, loss = lost