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Hello Poruchik,
thank you for posting the Zup indicator and information. I have downloaded, installed and traded with Zup67 for the past week to test it out. I have run it with only default settings except I have infoTF set to true to show the names of the patterns (e.g. Bullish Gartley, etc.). All in all, I think it is great.
I have a few questions and comments. First of all what is the strategy one should use, and interpretation one should make of the size and the shape of the red rectangular box? Some times it is taller and narrower. Other times it is shorter and wider. I know it is good to have a Limit Entry order placed just before the pattern completion with a fairly tight stop. I was just wondering about the thinking behind the red rectangle.
Have a look at the screen shot of the attached chart. Why does the red rectangle not move to the right edge of the right blue triangle? Is this a bug?
It would be great if the red rectangle had the OBJECT_BACK feature enabled so it would draw in the background. Too often it draws right on top of the wicks of the candles preventing me from seeing the wicks. It's been a while since I used that piece of code so I forget the syntax and do not know which line or lines of code to change. Please advise what code to change and what the changes are to make the rectangle draw in the background. Perhaps these changes could be made permanent in the next version.
It would be great if there was an alert that would activate only when a new blue pattern shows up on the screen. Is there such an alert? I tried the ExtAlert but it seems to give too many signals. What exactly is it signalling?
Some Gartley experts claim that unless the Gartley has segment AB = CD, then the pattern is not as effective. It seems the indicator also identifies patterns where AB does not equal CD. It would be great if the indicator showed us when AB=CD so we would know it was a "better" pattern.
Also I notice the indicator will identify the pattern, and show a light green colour to indicate it is a fib number but the ratios don't match conventional wisdom. By conventional wisdom, I mean the standard ratios as per the attached diagram. Please comment.
Since there is so much code, this indicator takes a lot of resources. Are other features that are not turned on in default mode still running in the background? I was wondering if there is a way to make it go faster? I have a fairly new computer with a Pentium D930 Duo Core 3.0 Mz processor with 2 x 2 MB cache so I am a bit surprised that it is sometimes slow. Sometimes MT4 temporarily does not respond for a few or several seconds while the indicator is computing away. For now, I run a completely separate MT4 with only one chart and only with Zup running. Then it is not too slow but adding other indicators and charts really slows things down.
Thanks again for all your efforts Poruchik and please pass along my comments to nen. Sorry I don't speak or read Russian or I would post to nen on the Onix site.
Hello Poruchik,
thank you for posting the Zup indicator and information. I have downloaded, installed and traded with Zup67 for the past week to test it out. I have run it with only default settings except I have infoTF set to true to show the names of the patterns (e.g. Bullish Gartley, etc.). All in all, I think it is great.
Again, this is great. Thanks again nen and thanks again Poruchik.
I have a few questions and comments. First of all what is the strategy one should use, and interpretation one should make of the size and the shape of the red rectangular box? Some times it is taller and narrower. Other times it is shorter and wider. I know it is good to have a Limit Entry order placed just before the pattern completion with a fairly tight stop. I was just wondering about the thinking behind the red rectangle.
From reading further, it seems that the red box is the range in which the pattern is still valid and shows the zone where Point D of the XABCD pattern should form as defined by nen the programmer. The closer you are to the extreme maximum level where thereafter the pattern fails, the lower your entry risk. Since these patterns often form to show where retracements will occur on a larger trend, it is less risky to only take Bullish signals in an uptrend and Bearish signals in a downtrend. One should also have regard to the ratio numbers retracements. These should match those of the standard patterns. In other words, just because the pattern shows up, it may not qualify as a standard pattern.
Have a look at the screen shot of the attached chart. Why does the red rectangle not move to the right edge of the right blue triangle? Is this a bug?
This likely occurred because the pattern failed.
It would be great if the red rectangle had the OBJECT_BACK feature enabled so it would draw in the background. Too often it draws right on top of the wicks of the candles preventing me from seeing the wicks. It's been a while since I used that piece of code so I forget the syntax and do not know which line or lines of code to change. Please advise what code to change and what the changes are to make the rectangle draw in the background. Perhaps these changes could be made permanent in the next version.
I found the place to change the code and changed it myself.
It would be great if there was an alert that would activate only when a new blue pattern shows up on the screen. Is there such an alert? I tried the ExtAlert but it seems to give too many signals. What exactly is it signalling?
It seems that ExtAlert tells you each time a new ZigZag forms so it tells you that the market has changed direction. It seems to give an alert on all timeframes even if only one chart timeframe is open. As long as the market isn’t too choppy, or is quiet, there are not too many signals. I wrote an alert that signals when new patterns occur. I will post it shortly.
Some Gartley experts claim that unless the Gartley has segment AB = CD, then the pattern is not as effective. It seems the indicator also identifies patterns where AB does not equal CD. It would be great if the indicator showed us when AB=CD so we would know it was a "better" pattern.
It would be great if the indicator were coded to optionally only show the really good patterns with the correct ratios.
Also I notice the indicator will identify the pattern, and show a light green colour to indicate it is a fib number but the ratios don't match conventional wisdom. By conventional wisdom, I mean the standard ratios as per the attached diagram. Please comment.
From what I can tell, nen has taken some liberties in defining these patterns. If it is close to a real fib number the indicator says it is exactly that number. Also, some of the fib ratios don’t qualify as true patterns by normal standards. As long as you are aware of this, then the indicator still does help you spot the good patterns. The suggestion I have is that there be an simple one button adjustment to flip between what the indicator shows now and one with tightened up standard definitions of what qualifies as a pattern.
Since there is so much code, this indicator takes a lot of resources. Are other features that are not turned on in default mode still running in the background? I was wondering if there is a way to make it go faster? I have a fairly new computer with a Pentium D930 Duo Core 3.0 Mz processor with 2 x 2 MB cache so I am a bit surprised that it is sometimes slow. Sometimes MT4 temporarily does not respond for a few or several seconds while the indicator is computing away. For now, I run a completely separate MT4 with only one chart and only with Zup running. Then it is not too slow but adding other indicators and charts really slows things down.
By reducing the number of bars from 128000 down to 5000 in MT4->Tools->Options->Charts->Max bars in chart, the indicator works much faster now.
Thanks again for all your efforts Poruchik and please pass along my comments to nen. Sorry I don't speak or read Russian or I would post to nen on the Onix site.
I quickly became confused on the Onix site as even the English user section has buttons in Russian. So I don’t know if nen ever read my post or responded.
Here are a couple of screen shots of an indicator I wrote that pulls data off nen's ZUP indicator, calculates trade risk and provides alerts when patterns occur and when the FAIL.
I will post the indicator soon.
WRR
Last edited by WRR; 08-25-2007 at 07:24 PM.
Reason: Bug in code showed wrong max price level
I have modified the Gartley Patterns section of the “ZUP_v67.mq4” indicator in a few places to allow it to export data to another indicator I wrote. The file with the modifications to nen’s indicator is called ZUP_v67.01_WRR.mq4.
The indicator I wrote called “ZUP_v67.01_WRR_INFO.mq4” pulls data from nen’s indicator and does the following:
Draws a text block on the chart with the following:
Is there a pattern?
Which Pattern?
Minimum and maximum price range in which Pattern is valid.
The above is the same information as is available in Comments when ZUP is set to show one pattern and the infoTF switch is turned on.
In addition to what ZUP does, WRR_ZUP_INFO does this:
Allows you see the text even if Comments from other indicators are running.
This text block can easily be moved anywhere on the chart
You can easily change font sizes and colours,
and it tells you:
Pattern Failed?
Size of range in which pattern is valid
Pips Risk to entry if pattern fails.
Alerts when new Patterns form
Alerts when Patterns FAIL
You can get these Alerts for multiple timeframes by opening the relevant charts.
The only adjustments on the ZUP_WRR_INFO indicator besides font settings and text positions is an Alert on or off control.
Attached is a sample Template, sample Profiles, a copy of the modified ZUP_v67.01_WRR.mq4 indicator, my ZUP_v67.01_WRR_ZUP_INFO.mq4 indicator and a quick NEWBIE INSTALL.txt file.
If you open my indicator with the MT4 editor you will see some notes on what I did to nen's indicator to get this all to work.
TO GET the ZUP_v67.01_WRR.mq4 INDICATOR TO WORK, you must check the box "Allow DLL imports" in the Common Tab of the indicator's properties.
Hopefully nen will get the ZUP_v67.01_WRR.mq4 indicator and leave my export data code in place when he updates to ZUP_v68.mq4.
Poruchik, perhaps you could pass my files along to nen?
Cheers,
WRR
Sorry but I had a bug in the WRR_ZUP_INFO code which is now fixed. I replaced attachments below.
Last edited by WRR; 08-25-2007 at 07:34 PM.
Reason: Corrected bug in code and replaced attachments 2007.08.25 14:02 EDT
I have modified the Gartley Patterns section of the “ZUP_v67.mq4” indicator in a few places to allow it to export data to another indicator I wrote. The file with the modifications to nen’s indicator is called ZUP_v67.01_WRR.mq4.
The indicator I wrote called “ZUP_v67.01_WRR_INFO.mq4” pulls data from nen’s indicator and does the following:
Draws a text block on the chart with the following:
Is there a pattern?
Which Pattern?
Minimum and maximum price range in which Pattern is valid.
The above is the same information as is available in Comments when ZUP is set to show one pattern and the infoTF switch is turned on.
In addition to what ZUP does, WRR_ZUP_INFO does this:
Allows you see the text even if Comments from other indicators are running.
This text block can easily be moved anywhere on the chart
You can easily change font sizes and colours,
and it tells you:
Pattern Failed?
Size of range in which pattern is valid
Pips Risk to entry if pattern fails.
Alerts when new Patterns form
Alerts when Patterns FAIL
You can get these Alerts for multiple timeframes by opening the relevant charts.
The only adjustments on the ZUP_WRR_INFO indicator besides font settings and text positions is an Alert on or off control.
Attached is a sample Template, sample Profiles, a copy of the modified ZUP_v67.01_WRR.mq4 indicator, my ZUP_v67.01_WRR_ZUP_INFO.mq4 indicator and a quick NEWBIE INSTALL.txt file.
If you open my indicator with the MT4 editor you will see some notes on what I did to nen's indicator to get this all to work.
TO GET the ZUP_v67.01_WRR.mq4 INDICATOR TO WORK, you must check the box "Allow DLL imports" in the Common Tab of the indicator's properties.
Hopefully nen will get the ZUP_v67.01_WRR.mq4 indicator and leave my export data code in place when he updates to ZUP_v68.mq4.
Poruchik, perhaps you could pass my files along to nen?
Cheers,
WRR
Thank you very much WRR!
This will greatly help to filter false signal. Sorry to say that I don't know programming. Anyway, hopefully we can pull all the ideas, to make this indicator a success one.
One more question is, what is the entry risk ration is safe to enter trade?