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

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aliassmith
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Postby aliassmith » Sun Sep 25, 2011 3:00 pm

PebbleTrader wrote:Jalarupa wanted level stats: (all autogenerated)

Image


Nice work pebble trader!
I checked your chart with a chart done manually and the boxes look spot on.
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Postby PebbleTrader » Sun Sep 25, 2011 3:02 pm

Jalarupa,

Any luck with the math eq's?
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Postby PebbleTrader » Sun Sep 25, 2011 3:04 pm

"Nice work pebble trader!
I checked your chart with a chart done manually and the boxes look spot on."

Thanks for the feedback.

I am close to having it autogenerate the breach's.
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aliassmith
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Postby aliassmith » Sun Sep 25, 2011 3:16 pm

PebbleTrader wrote:"Nice work pebble trader!
I checked your chart with a chart done manually and the boxes look spot on."

Thanks for the feedback.

I am close to having it autogenerate the breach's.


I have been looking at the breaching concept, but I figured the point of
PnF was to simplify and make S&D pop out at you.
Identifying high/low pole, double+ top/bottoms, bear/bull traps, Manage
space.
It doesn't hurt to try it out tho.

I have been looking at PnF since early September (made a few trades with it)
but manual ploting and the MT4 indies were not great.
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MightyOne
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Postby MightyOne » Sun Sep 25, 2011 4:55 pm

bredin wrote:
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.

G.


I could not find a flaw in your x 1 charts :shock:

Well done Bredin, well done!

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Postby MightyOne » Sun Sep 25, 2011 5:01 pm

I have an idea, I'd share it but it is insanity ;)

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PebbleTrader
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Postby PebbleTrader » Sun Sep 25, 2011 5:08 pm

I think I got it: (all autogenerates)

(numbers above boxes are breach amount)

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Postby PebbleTrader » Sun Sep 25, 2011 5:11 pm

"I have been looking at the breaching concept, but I figured the point of
PnF was to simplify and make S&D pop out at you.
Identifying high/low pole, double+ top/bottoms, bear/bull traps, Manage
space.
It doesn't hurt to try it out tho. "

I agree, but if you have an area of S&R and only show breach of 70-90% than you are obtaining extra valuable information. Especially if you see it line up in that range.

So in above chart, you would tell it to only show 7s, 8s and 9s.

You might see a consistent place where price extends or reaches...
Last edited by PebbleTrader on Sun Sep 25, 2011 5:20 pm, edited 2 times in total.
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Postby PebbleTrader » Sun Sep 25, 2011 5:14 pm

"I have an idea, I'd share it but it is insanity"

Insane ideas are ok with me :)

I'd say that the majority of mine are classified as near insane a lot of the time :)
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Postby PebbleTrader » Sun Sep 25, 2011 5:17 pm

You can turn on and off or adjust whatever you want...:

Image
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