zhaozilong wrote:Hello Relativity,
can you explain how to interpret this?
e.g CC-M15X20 = M300 H5 ON MN1 *> Up Wave, +58
what does H5 and what is it significance?
what does +58 means?
Up Wave means the last zigzag line is sloping Up?
if the last zigzag line of the current candle is down, we set the TAD_LongORshort to True and vice versa?
I chose H5 as I do not trust H4 candles due to time zone differences. H5 IMO is the best compromise. Also, it also factors into how 'time pockets' is constructed. Work this backwards :
1 month = 4 to 5 weeks
1 week = around 5 days
so therefore, if the common factor is to divide by 5, then :
1 day = around 5 sets of 5 hours
This idea is not new. It came mainly from Alexander Elder.http://www.investopedia.com/articles/tr ... z1alSIEjT1http://forum.masterforex-v.su/index.php?showtopic=14643
+58 means the current wave has a factor of +58 pips up, using a surprising simple formula onto the candles (prev high - current low VS prev low - current high)
The waves are constructed in this manner
1-construct H5 candles using M15X20
2-apply the formula onto the candles
3-mark off all the highs and lows the formula gives
4-join all the points and wala, we see waves
It will update every 15 mins, rather than having to wait for 5 hours for the current candle to update. I want to know what is happening NOw, rather than to wait.
I found that this makes the wave factor into time decay for price well. Over time, you will see the +58 figure go up or down. If it is going down to the 0 point, you know price is going to 'turn' and create a down wave.
Up Wave means the last zigzag line is sloping Up? = The latest ZZ line is sloping up.
Set the TAD_LongORshort according to your analysis, not accordingly to the direction of the last/current zigzag. If the current zigzag switches to the side you want and the trigger line shows up, then you are good to go.
Relativity wrote:The trigger line will appear on 2 conditions :
1-your decision of direction (short or long)
2-the current wave direction. If the current wave of a certain timeframe is down, a long trigger line will appear and vice versa
1+2 matches = lines appear accordingly
That is assuming you already done your analysis.