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

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PebbleTrader
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Postby PebbleTrader » Sun Sep 25, 2011 9:00 am

Hi Bredin,

Thanks for adding in the tolerance setting :)

Please don't remove it! I am still interested in it, I hear what you are saying. I will post a picture as soon as I draw it up.
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Postby PebbleTrader » Sun Sep 25, 2011 9:03 am

Jalarupa:

"If you delay Bredin I'll have to kill you" - MO

http://www.youtube.com/watch?v=7edeOEuXdMU

^-------------------MO :lol:
Last edited by PebbleTrader on Sun Sep 25, 2011 9:20 am, edited 1 time in total.
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Postby PebbleTrader » Sun Sep 25, 2011 9:17 am

Image

Assuming tolerance setting is 1/2p.

So price is making higher boxes and it gets it's first assist (price is 9.5p higher
than the last level)

Then price starts heading lower.

Price hits and crosses the -10p level and then comes within -9.5p level.

A double assist occurs and price than continues making higher and higher boxes.

The result would be 19p is only required to reverse.

First thought is that this would be pretty rare give most circumstances.

Second thought is that 19p is WORST CASE and most times it would be >19p.

Third thought is that you could code it in such a way that "double assists" are not allowed. So the first assist would count, but the second assist would not count for reversals.
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Postby PebbleTrader » Sun Sep 25, 2011 9:23 am

I can only 2nd Jalarupa's comment,

While the world uses 100 year old PnF charts, the great Kreslik minds take it to a whole new level...:)
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Postby PebbleTrader » Sun Sep 25, 2011 9:52 am

Jalarupa wanted level stats: (all autogenerated)

Image
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Postby PebbleTrader » Sun Sep 25, 2011 10:14 am

Who likes colors!? (All of this was autogenerated)

Level stats with color intensity based on level stat value:

Image
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bredin
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Postby bredin » Sun Sep 25, 2011 10:56 am

PebbleTrader wrote:Image

Assuming tolerance setting is 1/2p.

So price is making higher boxes and it gets it's first assist (price is 9.5p higher
than the last level)

Then price starts heading lower.

Price hits and crosses the -10p level and then comes within -9.5p level.

A double assist occurs and price than continues making higher and higher boxes.

The result would be 19p is only required to reverse.

First thought is that this would be pretty rare give most circumstances.

Second thought is that 19p is WORST CASE and most times it would be >19p.

Third thought is that you could code it in such a way that "double assists" are not allowed. So the first assist would count, but the second assist would not count for reversals.


done. continuation and reversal tolerances are now independently configurable. They may also be negative.

more interesting has been doing the x1 charts :)

Image
GU 50x1

since no box can be drawn on its own this was a bit of a challenge. single reverse boxes are folded into the next bar. It is unfortunate that MT4 wont let us independently color bars (or parts of bars), but its pretty obvious that when there is two same colored bars next to each other there has been a step back.

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bredin
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Postby bredin » Sun Sep 25, 2011 11:07 am

Image

GU 10x2 with cash zones....

yknow... just cos I can ;)

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Postby PebbleTrader » Sun Sep 25, 2011 11:13 am

"done. continuation and reversal tolerances are now independently configurable."

Whoa you are a step ahead of me :)

and I have not tried to do XX x 1's yet. I suspect it will be easier in my GUI then MT4 though. Nice work!
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Postby Jalarupa » Sun Sep 25, 2011 11:28 am

PebbleTrader wrote:Who likes colors!? (All of this was autogenerated)

Level stats with color intensity based on level stat value:

Image
.

Mwahahaha... Mwahahaha... Mwahahahaha...!

I love it!

You guys are really going above and beyond...

This is where stuff happens

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