to trade and code, keep both simple... no call to impress....h
Your a scholar and a gentleman hayseed, your indicators is great for mapping out the broken lines of support resistance, and very handy for the short term. However for my method im much more concerned with the historical absolute SR of a specific lookback period. Im interested in your application of the SR lines in ZigZagAce above, and expanding it to include a period of X bars, so that it looks like this. {image} You see the reason is because i believe that the SR of the prices...
I think Doris means somewhat like this
- #26
- Jan 1, 2021 1:42pm Jan 1, 2021 1:42pm
- Joined Nov 2006 | Status: Trader | 4,420 Posts
you'll notice when the zigzag repaints/adjusts lower or higher after 3 bars, the existing arrows stick but a new row is created..... this symbolizes times when support or resistance as reflected by the zigzag failed..... it's imperative to see these times, for obvious reasons....
hey kenny..... what i meant was it is imperative that we both realize and visually acknowledge the zigzag tendency to repaint in any single leg.... and have some sort of approximation of how far on average it will.....
depending on timeframes, it is possible for the zigzag to repaint 100's, 1000's or even 10's of thousands of times in a single leg..... any conclusion we draw from the zigzag must be tempered with that ....
otherwise we end up betting on the sure thing only to find out it wasn't......h
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to trade and code, keep both simple... no call to impress....h
- #27
- Last Post: Jan 1, 2021 9:50pm Jan 1, 2021 9:50pm
{quote} //---- hey kenny..... what i meant was it is imperative that we both realize and visually acknowledge the zigzag tendency to repaint in any single leg.... and have some sort of approximation of how far on average it will..... depending on timeframes, it is possible for the zigzag to repaint 100's, 1000's or even 10's of thousands of times in a single leg..... any conclusion we draw from the zigzag must be tempered with that .... otherwise we end up betting on the sure thing only to find out it wasn't......h //----- {image}
I place the indi on M30. Particularly interest with the re print with engulf of previous.
