A fresh start! Doji's Trading Journal

Post by **MightyOne** » Sat Oct 06, 2012 12:18 pm

bettlebox wrote:MO,

...Question I'm left with was my time wasted in read things, struggling with concepts, picking through peoples confusion which made me confused?
I can't answer that at moment. There is part of me says you have gained some degree of knowledge, then there is another says at what cost...

Thanks MO,Doji

BB

Cost?

Tens of thousands of dollars and several years of 'practice' with real money :lol:

PebbleTrader · Post by **PebbleTrader** » Sat Oct 06, 2012 12:23 pm

PebbleTrader · Post by **PebbleTrader** » Sat Oct 06, 2012 12:25 pm

The box than gets shifted by 1 bar to the right in a "loop" that looks for either a new lowest low or a new highest high within the box.

That's how to visualize what the zigzag indi is doing, theres a little more to it than that, but that's pretty much what it is doing.

PebbleTrader · Post by **PebbleTrader** » Sat Oct 06, 2012 12:35 pm

With PnF I'm either looking across vast distances of time or I'm looking at how price is reversing.

More often than not, I'm looking at how price is reversing.

A zigzag indi you could use in place of a PnF chart.

You can see the subtle now moment details and also the cleaner lines of price reversals / distances on one chart.

You can also see speed by the steepness of the line, which would not be apparent on just a PnF chart.

Something to think about, it just depends what you want to focus on seeing more.

I'm not sure which logic would be better, that indi or like a PnF logic indi that is in the form of a zigzag.

PebbleTrader · Post by **PebbleTrader** » Sat Oct 06, 2012 1:16 pm

Original Zigzag thread

Appears to be the original thread, but no one really talked about the logic behind it.

It looks like it is just a revised version of the zigzag indi that comes with MT4

NEVER EVER, use something if you don't know how it's doing it or understand the logic behind it...

PebbleTrader · Post by **PebbleTrader** » Sat Oct 06, 2012 3:25 pm

Here is my more customizable version:

PebbleTrader · Post by **PebbleTrader** » Sat Oct 06, 2012 3:26 pm

PebbleTrader · Post by **PebbleTrader** » Sat Oct 06, 2012 3:28 pm

You can turn the zigzag lines on or off and just show labels

You can turn the pip range labels off and just show the lines

You can change the label color

You can change the label font size

You can adjust the position of the labels up and down

You can turn off the pips from the most recent extreme from the bid line

PebbleTrader · Post by **PebbleTrader** » Sat Oct 06, 2012 6:40 pm

This is cool:

It mimics PnF

PebbleTrader · Post by **PebbleTrader** » Sat Oct 06, 2012 6:42 pm

Updated version that mimics PnF charts