P&F charts suck, don't use them...

[Jalarupa]

I'm thinking:

1->2->3->4->5 ........ 5->4->3->-2->1

So starting out you would have all 1's, then the levels build (2, 3, 4, 5)

At 5 we would allow so many 5's to be hit

Then the older levels start to decay.

A new 5 is hit -> oldest level 5, now becomes a 4.

A new 5 is hit -> next oldest level 5, now becomes a 4. The previous decay of 4 now becomes a 3.

It's creating a "fade out effect".

Sounds complicated but it will all be automated at the toggle of a button.

Click "levels on"

Click "levels off" (shows normal PnF with no color intensity)

Exciting Developments!!!

Love the power of team work eh PT

Very exciting!

Just caution I have realized my eye-balling off my phone at work off the M1 chart was off!

I have fixed the chart and will email shortly.

[PebbleTrader]

I noticed that,

It was all matching up, until a certain point.

I was hoping it was a mistake and not feed issues.

[Jalarupa]

-note this chart data is wrong in the last 5 or 6 columns

Okay so I was staring at this chart at work today and I saw something regarding Fibonacci... and its quiet obvious that because PnF cut out all the market 'noise' that you would fairly accurate FIB (although not precise, but that doesn't matter because we are just looking for a price level where there is an imbalance)...

So you'll see that with the above that I was looking at the amount of "space" that can be injected into a trade and it seems to be roughly the initial "open" or wave bottom/top and the base of the lowest/highest retracement (whichever is relevant). So yes this space is roughly - for the most part equal to previous wave VALUE x 1.68 (give or take a few pips)... This shows how much space is potentially availiable to the trader before things go VERY BAD and you have a reversal on your hands... And for some reason also makes good entry points...???

Although I was horribly wrong in my assessment at the end of the chart that I'm sure with further thought and development this idea may sprout something... what that may be yet... I donno... maybe I'm just seeing things or just stating the obvious...



Okay so here again, perhaps stating the obvious FIB retracements but these add powerful S/R to our base case turnaround scenarios in relation to TAP (Turn Around Point) levels.

There's some very interesting things if you stare at this pic for a while...

I'll leave the ball in your court...

Chart - http://www.mediafire.com/?flmrpm865zaple6

Fib Calc - http://www.mediafire.com/?u0lf5yd6ndwlmp5

[PebbleTrader]

Your updated chart looks better.

Glad to see there are not issues with data feeds being off.

I don't do fibo retracements so I can't offer any opinion, other than I don't use them.

[Jalarupa]

Well those fibo's are merely showing the Mighty Zone at the end of the day...

Body in direction of profit... wick in direction of loss... based on what I am seeing there is a greater bias for shorts on the EU today than longs, however the support will be a tough one to break, and if broken out below 1.3600 then we will see deeper lows...

But then again, the fed could come by and turn this whole thing on its head... so ya...



Case for shorts fading the Mighty Zone



Here the longs, showing the drop off the cliff below 1.3600

as I see it atleast

[bredin]

Jal, love the pic showing the space on the P&F chart

my playing around shows that P&F makes working with space that much easier...

and, yes, I am working on something for mt4 that works.... as sson as I get working with the history files sorted out it will be done.

G.

[PebbleTrader]

"my playing around shows that P&F makes working with space that much easier... "

Nice observation

"and, yes, I am working on something for mt4 that works.... as sson as I get working with the history files sorted out it will be done. "

That would be so nice!

Let me know if you need any help.

[Jalarupa]

Jal, love the pic showing the space on the P&F chart

my playing around shows that P&F makes working with space that much easier...

and, yes, I am working on something for mt4 that works.... as sson as I get working with the history files sorted out it will be done.

G.

See... This is why I believe in the power of community

bredin, I'm really looking forward to seeing where we go with this, really happy to have you on board.

[PebbleTrader]

Jala,

I guess I'm still not really sure what your colored "pipes" are on the left and right side of the PnF? You say it's daily MZ? What are the "knobs" sticking out of the pipe?

[PebbleTrader]

"power of community"

Let's call it "power of combining brilliant minds" shall we?