PA, S/R, ZL, EXTREMES & MOMO

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MightyOne
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Postby MightyOne » Thu Aug 25, 2011 7:12 am

There really is only one way to draw a P&F chart and that is w/ tick data.

If you are going to use closing prices or the High/low methed then you might as well use time charts as you are half using them anyway.

For those of us who refuse to plot XO manually from tick data (me) we simply throw Tro's SweetSpotGold on a minute chart w/ sub-levels set to 10p (macro-pips) ond plot an X or an O every time it hits a line.

If you have access to 20 second charts then use 5 pips instead of 10.

From these smaller charts you can make accurate larger charts.

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PebbleTrader
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Postby PebbleTrader » Thu Aug 25, 2011 8:13 am

"we can size the squares to ignore smaller levels of congestion to increase the TF. "

"Because price is in congestion 80% of the time, the congestion acts as the time factor in P&F...in theory =) "

Ah, gotcha :D

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rrobin
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Postby rrobin » Thu Aug 25, 2011 11:30 am

One might look here for P&F charts.


http://stockcharts.com/

Relativity
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Postby Relativity » Thu Aug 25, 2011 12:41 pm

How about using this as an alternative to renko/P&F?

LogTickData.mq4 PostTickData.mq4

Set it to create 1 bar say every 20 ticks (regardless up or down ticks). Then watch how it form S/Rs?
Last edited by Relativity on Thu Aug 25, 2011 1:09 pm, edited 2 times in total.

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PebbleTrader
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Postby PebbleTrader » Thu Aug 25, 2011 1:01 pm

"we can size the squares to ignore smaller levels of congestion to increase the TF. "

"Because price is in congestion 80% of the time, the congestion acts as the time factor in P&F...in theory =) "

MO,

So for me, when I see an area of "congestion" I tend to give that area a little extra weight in terms of S & R. If the P & F is removing that factor, wouldn't that be a disadvantage in determining the best S & R?
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aliassmith
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Postby aliassmith » Thu Aug 25, 2011 3:41 pm

MightyOne wrote:There really is only one way to draw a P&F chart and that is w/ tick data.

If you are going to use closing prices or the High/low methed then you might as well use time charts as you are half using them anyway.

For those of us who refuse to plot XO manually from tick data (me) we simply throw Tro's SweetSpotGold on a minute chart w/ sub-levels set to 10p (macro-pips) ond plot an X or an O every time it hits a line.

If you have access to 20 second charts then use 5 pips instead of 10.

From these smaller charts you can make accurate larger charts.


" If you are going to use closing prices or the High/low methed then you might as well use time charts as you are half using them anyway."

This is what I was thinking MO, after we were throwing some ideas around
I felt that the time based charts were/are just as good.

Now the second part of that post grabs my attention, I'll look into it more
after I find sweet spot gold, thought I had it already.
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Postby Jalarupa » Thu Aug 25, 2011 3:50 pm

P&F... love getting schooled... :) it certainly looks interesting... thanks guys...
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MightyOne
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Postby MightyOne » Thu Aug 25, 2011 5:13 pm

Here is a random 6 days of USD/CHF plotted in macro-pips from a minute chart:

http://tinypic.com/view.php?pic=2s1ofh3&s=7

aliassmith
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Postby aliassmith » Thu Aug 25, 2011 5:19 pm

MightyOne wrote:Here is a random 6 days of USD/CHF plotted in macro-pips from a minute chart:

http://tinypic.com/view.php?pic=2s1ofh3&s=7


So u have a "x or o" for every 10 pips on the sweet spot?

Did you do a 30 pip reversal?
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MightyOne
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Postby MightyOne » Thu Aug 25, 2011 5:28 pm

Yes, one XO every time price hits a 10 pip Sweet Spot.

I use a one box reversal but am not against using a two box reversal.

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