I am thinking you could mathematically keep track of where it is at in regards to the trendline.
This would in turn be used to create a dashboard that shows you when the basic support trendline is broken from an important low on many pairs at the same time. You wouldn't need to even see the chart or see the drawn trendline.
P&F charts suck, don't use them...
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that could be done from the D+ extremes....
G. (Enjoy Kartik Jal)
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Hello bredin,
looks like you are correct regarding PnF supply and demand.
PnF Supply and Demand Trading
best regards.
-zhao
looks like you are correct regarding PnF supply and demand.
PnF Supply and Demand Trading
best regards.
-zhao
Last edited by zhaozilong on Tue Oct 11, 2011 4:55 pm, edited 1 time in total.
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PebbleTrader wrote:I am thinking you could mathematically keep track of where it is at in regards to the trendline.
This would in turn be used to create a dashboard that shows you when the basic support trendline is broken from an important low on many pairs at the same time. You wouldn't need to even see the chart or see the drawn trendline.
Hello PebbleTrader,
that is a neat idea, now you remind me why Trendlines in PnF are 45 degrees. going to re-read the book.
best regards.
-zhao
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Manta...
That is a seriously cool idea!
if Im reading that right a trend change occurs when a P&F gaps in the opposite direction to the previous trend... those gaps are essentially a trend setter in themselves.
you can see that (for a long trend) a down P&F closes above the previous down P&F open.
code becomes something like
if(dnbar && Close[i] > Open[i+2]) trend = 1;
else if(upbar && Close[i] < Open[i+2]) trend = -1;
edit: bad code....
assuming that the chart is x2 or greater x1 complicates things somewhat...
Im pretty sure thats not how its being calculated, but thats the raw effect
Ive been using those gaps as s/r
edit2: never mind that big downbar about 18 august, thats a gap in my m1 data that I forgot was there....
this is your indi on a x1 chart. not sure if it means anything or not.
G.
That is a seriously cool idea!
if Im reading that right a trend change occurs when a P&F gaps in the opposite direction to the previous trend... those gaps are essentially a trend setter in themselves.
you can see that (for a long trend) a down P&F closes above the previous down P&F open.
code becomes something like
if(dnbar && Close[i] > Open[i+2]) trend = 1;
else if(upbar && Close[i] < Open[i+2]) trend = -1;
edit: bad code....
assuming that the chart is x2 or greater x1 complicates things somewhat...
Im pretty sure thats not how its being calculated, but thats the raw effect
Ive been using those gaps as s/r
edit2: never mind that big downbar about 18 august, thats a gap in my m1 data that I forgot was there....
this is your indi on a x1 chart. not sure if it means anything or not.
G.
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Something I have been working on...
PnF like you have never seen it before!
And just when you thought PnF couldn't get any more clear, I present to you:
PnF like you have never seen it before!
And just when you thought PnF couldn't get any more clear, I present to you:
Last edited by PebbleTrader on Tue Oct 18, 2011 6:51 am, edited 1 time in total.
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Ok, now a quick explanation...
the purple/brown dots are manta trend dots....
the vertical lines show when the 20x2 changed from manta trend up (after the green) to down (after the red).
I have transposed those onto a 10x2 chart and marked roughly where price was when it changed.... I had to zoom out to get it to fit on one pic... but note that there are places when the 10x2 manta trend changes and the 20x2 mt does not...
the 10x2 then shows entries and space and s->r etc for moulding the trade.
Note how it works with the Fractal+...
Must see how this goes in a 50x2 long term chart...
BTW guys you can load the II_Point&Figure indi onto the a chart multiple times, you dont need a new base chart for each P&F...
G.
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