DislikedHey Dopey, Pippo Loco & Hikkake,
What do you guys say about the current cable for the next trade?
Would you mind sharing your ideas with all of us?
HijackxxIgnored
It looks Downhill to me
Butt kissers suck!
Better Andrews Pitchfork and MT4 14 replies
Andrews Pitchfork 120 replies
Andrews Pitchfork video 22 replies
median line Bollinger band cross 3 replies
DislikedHey Dopey, Pippo Loco & Hikkake,
What do you guys say about the current cable for the next trade?
Would you mind sharing your ideas with all of us?
HijackxxIgnored
DislikedI just finished reading this entire thread for the first time and would like to thank everyone for their contributions.
QUESTION: Isn't the Schiff Fork drawn by Justcatalin where the handle is placed on the midpoint of the line connecting points A and B (Schiff Line) the same as a standard Modified Schiff Fork? I'm referring to the third chart in the this post: http://www.forexfactory.com/showpost...6&postcount=20Ignored
DislikedJerome Schiff was a student of Andrews and he asked what if price has an extreme slope what should be done then. He came up with the idea of taking the midpoint of high and low. To answer that Andrews recommended that he should take the halfway between price and halfway in time as well. Hence it became Modified Schiff. Like in the example below.Ignored
DislikedI was just going to submit a similar response but it looks like zones beat me to it.
From my understanding of this link http://www.medianline.com/ar18.html the original schiff is #1, the Andrews' "modified schiff" is #2 and Justcatalin's version is #3 on my chart picture below.
Personally, I think Justcatalin has the best version and is on to something here. Thanks for sharing it and please continue...Ignored
DislikedHey auxesis,
Nice charts. However, I believe you have swapped the definitions of "Schiff" and "Modified Schiff". The "Schiff" is 50% of Price only. The "MS" is 50% of both Time and Price from Point 1 to Point 2.
Please see my last post for details...
http://www.forexfactory.com/showpost...&postcount=146
I said I would post a chart with PF definition details, and so here it is. A bit cluttered with 6 pitchforks but you can get a quick idea whether any are resonating or not...
Original Andrews is Yellow
PR3: Point3 Variant is Aqua/Blue (Time of Point "1", Price of Point "3")
MS: Modified Schiff is Magenta (50% of Price & Time from "1" to "2")
SCH: Schiff is RosyBrown (Time "1" & 50% of Price-Only from "1" to "2")
IN: Inside Variant is Indigo (Draw from 1-to-2-midpoint to Point 3)
PR2: Point2 Variant is Green (Time of Point 1, Price of Point "2")
Let's keep this thread going! It is especially helpful to post charts of working PF's as you find them, so... (no matter what they're called), thanks auxesis!
Pips4lifeIgnored
DislikedPips4life,
Nice work, chart and explanation, but I beg to differ. From all my studies the original Schiff uses lines drawn parallel from the midpoint of AB (50% time/price) and the midpoint BC. This is a natural channel, with midchannel line drawn from the prior turns, see post #41.
regards,
a
watch this area for bounceIgnored
DislikedHi auxesis,
I posted a question on Tim Morge's forum, so we'll see if he gives a definitive answer. I actually think he's going to agree with you but I'm not sure. It's true that most people agree with your definitions as well, including some of the charting packages. I'm just not so sure if someone made a mistake early on (especially the Charting programmers) and now the terminology is all screwed up from the original... but I may be just wrong and you have it right. Bottom line... each variation is worth taking a look at to see if the market is resonating to it.
Case in point is your M15 EURUSD chart. Good call by the way. Price did react to your dotted pitchfork (copied and dropped a bit to form a sliding parallel pitchfork). As best I can tell, your dotted medianline was at about 1.4762, and price traded only -4 pips below that.
Notice, however, what the 50%-Price pitchfork looks like. (MS?) The lower-medianline-parallel was at 1.4756. Price came to 1.4758 on my broker, so a couple off is not bad at all. Price did bounce as you said to watch for!Ignored
DislikedPips4life,
I stand corrected, the original Schiff was the 50% of price and then later Modified to the 50/50 of time/price.
Good question on Tim's forum and some good answers. It helps when you understand how the tool was originally intended to be used.
regards,
aIgnored
DislikedHi auxesis,
I posted a question on Tim Morge's forum, so we'll see if he gives a definitive answer. I actually think he's going to agree with you but I'm not sure. It's true that most people agree with your definitions as well, including some of the charting packages. I'm just not so sure if someone made a mistake early on (especially the Charting programmers) and now the terminology is all screwed up from the original... but I may be just wrong and you have it right. Bottom line... each variation is worth taking a look at to see if the market is resonating to it.
Case in point is your M15 EURUSD chart. Good call by the way. Price did react to your dotted pitchfork (copied and dropped a bit to form a sliding parallel pitchfork). As best I can tell, your dotted medianline was at about 1.4762, and price traded only -4 pips below that.
Notice, however, what the 50%-Price pitchfork looks like. (MS?) The lower-medianline-parallel was at 1.4756. Price came to 1.4758 on my broker, so a couple off is not bad at all. Price did bounce as you said to watch for!Ignored