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

[PebbleTrader]

"Any way of incorporating a custom candle or better still...3xcc on our P&F charts... "

Thanks for sharing LazyGeorge. I don't use 3xCC, but when MO started sharing PnF ideas awhile back it looked like one of his PnF's was color coded based on 3xCC. Maybe MO can chime in with his thoughts...

[PebbleTrader]

"WHAT IF......."

"WHAT IF...we applied 3xCC to PnF"

"WHAT IF" is a creative based ?

I ask myself "WHAT IF?" OFTEN

[PebbleTrader]

"Any way of incorporating a custom candle or better still...3xcc on our P&F charts... "

I was just sitting here thinking about it and I feel like it could be done.

Bredin,

Could you not compare the time of the 1M candles based on them being within hour shifts and then assign the box color to the same as the 3xCC?

I was thinking of doing something like this for showing hourly wicks on the PnF...

PS, I'm not inferring you attempt to do this right now, it's just a "is it possible" kind of ?.

I don't want to upset MO by delaying the release date

[PebbleTrader]

Hmmm,

Coding the hourly PnF wicks might be easier than I thought.

I'll dig into it later...

[MightyOne]

I abandoned the idea in favor of a 50 x 1 (Can Bredin's P&F handle an x 1 plot?)

I have 50 levels on a 10 x 2 and follow them on 50 x 1.

I was thinking about marking the weekly extremes on the 10 x 2...

[Jalarupa]

I think it's about ready to share with others...I might test it a little more first...

If you have donated your creative idea to this thread and you would like to have it, PM me.

Excel is REQUIRED, Open Office is not supported.

+1

I'll stop posting idea's until bredin is done. MO's laugh at the end of his post got me a little worried...

http://www.youtube.com/watch?v=-gZ6-6Rb ... re=related

[bredin]

I abandoned the idea in favor of a 50 x 1 (Can Bredin's P&F handle an x 1 plot?)

I have 50 levels on a 10 x 2 and follow them on 50 x 1.

I was thinking about marking the weekly extremes on the 10 x 2...

Something like this??



AJ 50x1

I will have to apply my brain to getting multiple P&F charts overlapping....

I still have to check the live updating (and do the tolerances, which will be about nowish), but otherwise ready for release next week

G.

[bredin]

Ive been asked to clean up the 1x charting, I'll get onto that straight after the tolerances

G.

[bredin]

tolerances done you can see the difference in the following par of charts


no tolerance


0.5 pips tolerance

my observation from this GU 2x10 is that there is a greater likelihood of reversal if you use a tolerance, and thus an INCREASE in variability. variability is something that P&F was obviously designed to reduce....
I think this increase in variability is cos of the following math:

no tolerance: min reversal movement = 20 pips
0.5 pips tolerance : min reversal move = 19 pips.

this increase in variability is also borne out by the fact that the tolerance chart has more candles in total than the non tolerance chart.

G.

[Jalarupa]

bredin,

This all looks very very nice!

I can't wait to look at FIB retrenchments in relation to the data your PNF charts are producing

Well done! You are doing something that many before you have not been able to do.

Thank you