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MP -- WHY the price moves down and up on the zigzag
Quote:
Originally Posted by dvarrin
Hi,
I don't understand how this system can be so good. If the zigzag indicator shows a top, the price should move down, but the price could go down a bit and go back up and make a new high. Then on the chart we'll see that the zigzag indicator has changed, but in fact, when we look back in the chart, we might have followed a lot of false signals that are not showed on the chart anymore.
Does the nonlag zigzag limit this repainting?
For AVERAGE conditions, the zigzag along with zigzag pointer and z-z1 will show you exit positions, BUT PLEASE NOTE SOMETHING THAT HAS BEEN HAPPENING SINCE XMAS ------ the price will move in the direction you expected BUT THEN REVERSE AT THE 15% FIB, moving back up to form a dbl top ! (assuming the prior move was UPWARDS ! --- for a short, reverse the directions)
once it forms the top, and often goes a bit above, it will then head down on the next MARKET REVERSAL, which occur at 10:30 am, noon, 10:30 pm and midnite EST TIME !
and yes, sometimes it do and sometimes it dont but mostly it do, so set your reversals to tp at the 15% fib and see if it continues down or not --- almost always it wont until that double top is formed !
Not in total agreement as UJ did exactly what it should have done -- moved up for a nice long and reversed to downside at noon est.
the daily trend is DOWN, although im not trading it so didnt look for the bottom, but with that TREND, short is the direction you wish, unless you were to take profit at the normal reversal time of NOON EST and then go short !
enjoy and trade well
mp
[quote=.Anybody playing yen pair will be burnt today( trading during Asian and European time frame) trying to long on the bottom of the zig-zag. The bottom kept dropping and changed so many times today on all the yen pairs. SL will be triggered numerous occasions. Got to have a feel of the market, and don't try to trade against the trend. Just wait how the trend goes when the US market opens![/QUOTE]
"I must've gotten out on the wrong side of bed today... "
yes, these things can happen to the best. Well, in fact I don't know if I am a good trader, but I do manage to get some pips every now and then.....
It is all in the trust on the indicators and the way the highs and lows - and even more important - the lower highs and higher lows - develops. Just for fun I started a special bounce account and started trading on the arrowsignals in combination with some indicators, funded it and now in a week it's almost 3 x. If this goes on, I can shut down all my other accounts . Fact is, that I have some other things that I like besides trading, so for tomorrow and thursday I will be out almost all day, helping reading disabled children - such a great work.
If you would like it, pm and maybe we can change some indicators/settings.
Furthermore: I have an indicator, that can be of great value in combination with the arrows. The only thing is, it is kind of crapy programmed, so I have to update it every bar. Anyone interested in shaping it up?
Hi, attached is a revision that seems to work. I renamed it (being funny). I am attaching a screen shot using one minute time frame and it works for me. I have not posted enough to use PM yet. I have owned and managed a software company and the last statement I would make is to criticize anyone's code. My address is in the code. Thanks for your efforts and the sharing of your progress. Regards, Rydnek. NOTE: It does REPAINT because it uses the same logic as most zigzag indicators.
Last edited by rydnek; 01-18-2008 at 11:06 PM.
Reason: Repainting of Revised Indicator "Rydnek Revival"
Hi, attached is a revision that seems to work. I renamed it (being funny). I am attaching a screen shot using one minute time frame and it works for me. I have not posted enough to use PM yet. I have owned and managed a software company and the last statement I would make is to criticize anyone's code. My address is in the code. Thanks for your efforts and the sharing of your progress. Regards, Rydnek.
Rydnek --- with over 200 pages of stuff to read thru, I wonder what the name of the "zigzag" and pointers on your chart are.
I use much the same system, with some s+r differences and am curious as to which ones are on your chart
thnx
mp
Hi, I used bigbear's indicators as found on his first post. I did modify the Pointer, which was done by Dr. Gaines. to conform to MT4 for "Highest & Lowest". That file is attached. I am attaching another indicator for MTF ADX done by Tom Balfe that gives a lot of info in a small space. If we could put changes in direction for multiple time frames in one window that would help.
The zig zag lines REPAINT AND the POINTER does also. I use both as an alert and then use filters, as others have indicated. The variables used for the pointer should match the length of the cycles as close as possible. I am working on adapting the variables in real time to match the cycle length and the price change as close as possible. It is difficult to use these types of indicators in an EA, but it can be done. Thanks again BigBear and other contributors.
Rydnek
Last edited by rydnek; 01-18-2008 at 11:09 PM.
Reason: Pointer REPAINTING (IT DOES)
Could someone help me out with this.
I am using the signal bar but i am having a problem on the side where it is located in my chart. It is on the right hand side of the chart and i want it to appear of the left hand side. How do i do that.
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. Fact is, that I have some other things that I like besides trading, so for tomorrow and thursday I will be out almost all day, helping reading disabled children - such a great work.
how do i move this signal bar to the left
Linear Mode
