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

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MightyOne
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Postby MightyOne » Sun Sep 25, 2011 5:19 pm

Alright, remember that you asked for it :)
Last edited by MightyOne on Sun Sep 25, 2011 5:41 pm, edited 1 time in total.

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Postby MightyOne » Sun Sep 25, 2011 5:27 pm

Basically what the chart is saying is that 80 is the new 50...

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Postby MightyOne » Sun Sep 25, 2011 5:38 pm

Image

aliassmith
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Postby aliassmith » Sun Sep 25, 2011 6:03 pm

PebbleTrader wrote:"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...


I like how you did it on your excel sheet. Time will tell if it is something that
gets used. I want to do something like that excel but my excel programming
at "kindergarden" level like my space trading.
Trade Your Way as Long as It Makes Money!

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Jalarupa
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Postby Jalarupa » Sun Sep 25, 2011 6:44 pm

MightyOne wrote:Image


Yes, that is what it is saying... 80 is indeed the new 50 :lol:

Saw a similar thing in the EU last week.

How do you suppose that works...?

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PebbleTrader
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Postby PebbleTrader » Sun Sep 25, 2011 6:56 pm

"I like how you did it on your excel sheet."

The real power is when you can brush the data and show only what you want to see.

"Time will tell if it is something that gets used."

Absorb if useful, discard if not :)
Life is just a journey

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PebbleTrader
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Postby PebbleTrader » Sun Sep 25, 2011 6:59 pm

"Basically what the chart is saying is that 80 is the new 50..."

It sure is!
Life is just a journey

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Postby PebbleTrader » Sun Sep 25, 2011 7:01 pm

What is too funny about that is that when I was writing the code to show the majors, I thought, "I'll only ever want to show 10,20,50,100s".

See how the mind likes to stay inside the box!
Life is just a journey

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Postby PebbleTrader » Sun Sep 25, 2011 7:13 pm

80 is in!

(breach 6-9s)

Image
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Postby Jalarupa » Sun Sep 25, 2011 7:13 pm

PebbleTrader wrote:Jalarupa,

Any luck with the math eq's?


Okay,

I am by no means a mathematician, luckily my father in law is... I was throwing some ideas around and then started showing him how we using angles to draw channel lines and then how these channel lines show us likely turnaround levels and then we got into Fibonacci and now I gave him my intro to forex learning materials and he's gonna start trading lol...

But in between that we managed to jot some equations down that may be able to assist the coders in doing something regarding angles...

Okay for all of these we kept the y-value or vertical as X and discovered how one would determine distance in relation to X

15 DEGREES

Image

30 DEGREES (or 60 DEGREES inverted)

Image

45 DEGREES

Image

75 DEGREES

Image

Okay, so we were able to do these as fractions because they are rational. However the irrational angles 10, 20, 25, 35, 40, 50... etc will have to be done via the sin, cos, tan equations.

What was interesting is that:

30degrees

1/root3

0.5773502692

or TAN30 - Which represents the universal constant of 30 Degrees... in other words this is the way to measure an angle on a large or small scale...

Tan can be applied to irrational numbers in order to get their constants.

Errr... or something like that... I'm hoping that there is enough here for someone who actually knows what I am talking about to take it further...

But I'm sure with my father in law taking an interest we will see the development of wonderful ways to use math to solve market related problems... only time will tell...

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