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

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Jalarupa
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Postby Jalarupa » Wed Sep 21, 2011 8:09 am

PebbleTrader wrote: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?


Lol knobs... Sorry Bevis and Butthead moment ;)

That's basically the 50% 38.2% and 23.6% retracements into the mighty zone which as we know in Forex that 61.8% and 75% retracements off the highs are great levels to get back into the game and push for continuation in the direction of profit.

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Postby PebbleTrader » Wed Sep 21, 2011 8:53 am

I see, thanks for explanation :)
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Postby PebbleTrader » Wed Sep 21, 2011 6:02 pm

I am experimenting with breaches from the start of the week...

Here I show how many pips the box was breached by (1 through 9) in blue font:

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Postby PebbleTrader » Wed Sep 21, 2011 6:03 pm

Here I am showing the same breaches only I am removing the numbers and plotting a blue box instead.

This would also be a breach setting of 10%-90% allowed:

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PebbleTrader
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Postby PebbleTrader » Wed Sep 21, 2011 6:05 pm

Here I am showing the same breaches only I am removing the numbers and plotting a blue box instead.

Now I am only plotting breach's with a setting of 50%-90% allowed:

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Postby PebbleTrader » Wed Sep 21, 2011 6:07 pm

It's showing how far price is reaching/extending and where.

Via a setting you define (10% up to 90%)
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Postby PebbleTrader » Wed Sep 21, 2011 6:11 pm

Now I am only plotting breach's with a setting of 70%-90% allowed!:

Getting more strict!

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Postby PebbleTrader » Wed Sep 21, 2011 6:15 pm

Now that we have gotten more strict with the breach setting, hmmmmmmm:

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What ah beauty

:) :!:
:shock:
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Postby PebbleTrader » Wed Sep 21, 2011 6:31 pm

I can't believe I just wasted 30 minutes creating this PnF chart!

What a waste!!!

Moving on to something else that is not so sucky!!!

:D
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Postby PebbleTrader » Wed Sep 21, 2011 6:42 pm

PS...For those that have picky eyes, I did not update the intensity color levels yet!!! So those are not accurate...
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