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ICCE. Bemac's Fib. Reverse Engineered

  • #301
  • Apr 22, 2009 1:14pm Apr 22, 2009 1:14pm
Dee:

Thank you very much for your suggestions. I will try my hands on those setups that you have mentioned and see if I can get some feelings out of it. I'm pretty sure, with enough practices and time invested, I'll nailed it eventually; as I rely heavily on patterns on my trading. Much appreciated.

Have a good one
Jeff


Quoting dee
jharteam,

this might help you understand what smjones is saying....
~*~You are only one trade away from humility~*~
  • #302
  • Apr 23, 2009 9:01am Apr 23, 2009 9:01am
Thanks bemac and the gang. Following this and the other thread from day 1. Is it the grail or what...check it out...

Please find errors as u see them..I really can use some help in identifying the correct wave to draw the channel...
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurusd-02.jpg Size: 114 KB
Click to Enlarge Name: eurusd-03.jpg Size: 95 KB
  • #303
  • Apr 23, 2009 9:05am Apr 23, 2009 9:05am
Watching this one at the moment.
Attached Image (click to enlarge)
Click to Enlarge Name: fib rev engineered 27 eurusd x 15min zoom.gif Size: 54 KB


Descision time...
  • #304
  • Edited 9:37am Apr 23, 2009 9:20am | Edited 9:37am
Method overview: At this point I am understanding (correctly, I hope) that by properly positioning the BOX, not only can accurate FE (fibonacci extensions) be had, but additionally, lines from opposite corners of the BOX can be extended into the future creating predicted trend line envelopes. These TL envelopes come into play the same as horizontal S&R lines....they represent MAJOR areas at which PA reversal, or breakout may occur.

Please, someone with greater understanding at this point than myself, comment in a reply if I am on the right track with this.

If this is the case (or not), in the attached EU M1 chart, the BOX was carefully drawn to laterally extend to encompass every candle that took the PA into the BOX and back out of it. I expanded the chart considerable to do this accurately, then zoomed back out to make the attached screenshot. The TLs subsequently drawn off the BOX seem to relate to the upside and downside PA movement, which is pretty good for an M1 chart analysis. So, maybe this is a good rule for placement of the left/right sides of the BOX. Comments?
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot # 131.gif Size: 54 KB
  • #305
  • Apr 23, 2009 9:42am Apr 23, 2009 9:42am
Hi Traderathome:

Yes, as far as to my understanding, my interpretations are exactly the same as yours. Further, I also have pondered on your second observation with considerable time; I presumed this is from my training in using the Andrew's Pitchfork. In using the fork, people tend to ask the frequent question of just WHAT exactly would constitute a good pitchfork; my answer to them is simply that the three pivotal that best described the price actions; and that would be the correct pitchfork to use. Essentially, we are dealing with the same concept here. We are looking for 'trend lines' that can best described price gyrations. Hence, in such regards, as in Andrew's Pitchforks, these are not just merely trend lines; they are more than that; these are lines of vibrations that prices will tend to attract TO them in the future. I agree with your notions that we should be looking for a 'best fit' within the box to gauge the correct angle of these vibration lines. Bemac's jpg confirms somewhat of my thinkings for the past weeks. Please check out the fork I have drawn for the Eur/Usd; it sure does rings a bell, doesn't it? Take care.

P/S ...And surely, in the context of the Andrew's Pitchfork, that WAS decision time indeed...

Have a good one
Jeff


Quoting traderathome
Method overview: At this point I am understanding (correctly, I hope) that by properly positioning the BOX, not only can accurate FE (fibonacci extensions) be had, but additionally, lines from opposite corners of the BOX can be extended into the future creating predicted trend line envelopes. These TL envelopes come into play the same as horizontal S&R lines....they represent MAJOR areas at which PA reversal, or breakout may occur....
Attached Image (click to enlarge)
Click to Enlarge Name: EUR Median Lines 04232009 (vi).jpg Size: 167 KB
~*~You are only one trade away from humility~*~
  • #306
  • Apr 23, 2009 9:52am Apr 23, 2009 9:52am
Quoting traderathome
Method overview: At this point I am understanding (correctly, I hope) that by properly positioning the BOX, not only can accurate FE (fibonacci extensions) be had, but additionally, lines from opposite corners of the BOX can be extended into the future creating predicted trend line envelopes. These TL envelopes come into play the same as horizontal S&R lines....they represent MAJOR areas at which PA reversal, or breakout may occur.

Please, someone with greater understanding at this point than myself, comment in a reply if I am on the right track...
More than just the diagonals.

Attached Image (click to enlarge)
Click to Enlarge Name: fib rev engineered 28 eurusd x 1min zoom.gif Size: 51 KB

The Other lines are Copied Parallel Lines of the Diagonals & intersect the Box 50% & Corners.
  • #307
  • Apr 23, 2009 10:10am Apr 23, 2009 10:10am
Quoting Bemac
More than just the diagonals.

Attachment
The Other lines are Copied Parallel Lines of the Diagonals & intersect the Box 50% & Corners.
Thank you for the replies Jeff, Bemac. This is becoming exciting! A nice addition to the BOX would be for it to show mid-wall dots to help align the TLs. MT4 draw rectangle tool puts them at corners and you can leave them on. Working towards any sophisitcation in the BOX drawing indy might take and improve on that by putting dots at these midpoints, even if they are not functional for resizing the BOX. Just having them there would be a great help.
  • #308
  • Apr 23, 2009 10:34am Apr 23, 2009 10:34am
wonder if MissPips can help on that? But I think this is part of the software program and should pose difficulties to code them....


Quoting traderathome
Thank you for the replies Jeff, Bemac. This is becoming exciting! A nice addition to the BOX would be for it to show mid-wall dots to help align the TLs. MT4 draw rectangle tool puts them at corners and you can leave them on. Working towards any sophisitcation in the BOX drawing indy might take and improve on that by putting dots at these midpoints, even if they are not functional for resizing the BOX. Just having them there would be a great help.
~*~You are only one trade away from humility~*~
  • #309
  • Edited 11:03am Apr 23, 2009 10:52am | Edited 11:03am
Quoting jharteam
wonder if MissPips can help on that? But I think this is part of the software program and should pose difficulties to code them....
You know, once you have a reasonable box, you can use the MT4 Andrew Fork tool applying 1,2,3 at the far corners from the direction you want it. So, if down is needed, then 1 goes in upper left, 2 in lower left and 3 in upper right corners of the box. Jeff, are you doing this? If not, try and let me know what you think. If anything, it may be, base upon how the fork displays, an indicator the box is wrong.....

Attached is screenshot in which the box corners were used to place the three earmarks for the fork. Since the fork does not align perfectly with the other box corner and the box middle, then maybe the box is slightly off. I would, in this case, start by moving the right side of the box to the left, being more sure the height is right, but maybe the width needs reduction. This process only works if there is subsequent PA to guage with the drawn fork, and then rework the box accordingly.
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot # 132.gif Size: 58 KB
  • #310
  • Apr 23, 2009 10:55am Apr 23, 2009 10:55am
Quoting jharteam
wonder if MissPips can help on that? But I think this is part of the software program and should pose difficulties to code them....
If the intent is simply to "mark" the mid-wall position with a dot or other symbol, but not have it be functional to move the wall, then it should be very easy. And that is all that would be required.
  • #311
  • Apr 23, 2009 11:15am Apr 23, 2009 11:15am
Yes, I am working on it as well. BUT we MUST 'pretend' that there are no further prices for us to work on; and we shouldn't even look at anything beyond to the left of the box and that the only things that are available are the 'stuffs' within the box to work on; else, we would be curve fitting the vibration lines. Still don't know how to do it, but will keep trying...


Quoting traderathome
You know, once you have a reasonable box, you can use the MT4 Andrew Fork tool applying 1,2,3 at the far corners from the direction you want it. So, if down is needed, then 1 goes in upper left, 2 in lower left and 3 in upper right corners of the box. Jeff, are you doing this? If not, try and let me know what you think. If anything, it may be, base upon how the fork displays, an indicator the box is wrong.....

Attached is screenshot in which the box corners were used to place the three earmarks for the fork....
~*~You are only one trade away from humility~*~
  • #312
  • Edited 11:40am Apr 23, 2009 11:35am | Edited 11:40am
Jeff,

I see where you have drawn your main pitchfork but I see narrow channel flanking it. Did you draw those manually or are you able to add levels to the pitchfork tool? If yes, I can't see how. TIA ~dee

the pic the you originally posted...
http://www.forexfactory.com/attachme...8&d=1240497714
  • #313
  • Apr 23, 2009 11:48am Apr 23, 2009 11:48am
Hi Dee:

The "narrow channel flanking it" is called sliding parallels in pitchfork. I draw them manually as MT4 doesn't have any other tools for the pitchfork. Drawing it manually on MT4 is simple: add a trend line with "ray" being checked; tack on one of the pivotal of the median lines of the fork; and make sure the angle is of the same as the fork's median line; then you can simply slide it to the desire juncture which describes the increased volatility of price actions. Take care.

Have a good one
Jeff

Quoting dee
Jeff,

I see where you have drawn your main pitchfork but I see narrow channel flanking it. Did you draw those manually or are you able to add levels to the pitchfork tool? If yes, I can't see how. TIA ~dee

the pic the you originally posted...
http://www.forexfactory.com/attachme...8&d=1240497714
~*~You are only one trade away from humility~*~
  • #314
  • Apr 23, 2009 12:11pm Apr 23, 2009 12:11pm
Quoting jharteam
Hi Dee:

The "narrow channel flanking it" is called sliding parallels in pitchfork. I draw them manually as MT4 doesn't have any other tools for the pitchfork. Drawing it manually on MT4 is simple: add a trend line with "ray" being checked; tack on one of the pivotal of the median lines of the fork; and make sure the angle is of the same as the fork's median line; then you can simply slide it to the desire juncture which describes the increased volatility of price actions. Take care.

Have a good one
Jeff
MT4 has an easier way, Jeff. Unlock the fork...have dots showing. Simultaneously hold down "shift" and "Ctrl". While they are down be sure to have the cursor on one of the fork lines. If not, then while they are down, move the cursor to one of the fork lines. Then, while holding them down, and with the cursor on one of the lines, simply left click and hold the click while you drag a newly created line away from the fork line. Release all and there you have a new line perfectly parallel to the fork.
  • #315
  • Apr 23, 2009 12:25pm Apr 23, 2009 12:25pm
Thanks for the tips; a newly created fork indeed; but if I just need one parallel line; isn't it my way of doing it is the only option available? If there's a better way, please let me know, TIA


Quoting traderathome
MT4 has an easier way, Jeff. Unlock the fork...have dots showing. Simultaneously hold down "shift" and "Ctrl". While they are down be sure to have the cursor on one of the fork lines. If not, then while they are down, move the cursor to one of the fork lines. Then, while holding them down, and with the cursor on one of the lines, simply left click and hold the click while you drag a newly created line away from the fork line. Release all and there you have a new line perfectly parallel to the fork.
~*~You are only one trade away from humility~*~
  • #316
  • Apr 23, 2009 12:31pm Apr 23, 2009 12:31pm
Quoting traderathome
Attached is screenshot in which the box corners were used to place the three earmarks for the fork. Since the fork does not align perfectly with the other box corner and the box middle, then maybe the box is slightly off. I would, in this case, start by moving the right side of the box to the left, being more sure the height is right, but maybe the width needs reduction. This process only works if there is subsequent PA to guage with the drawn fork, and then rework the box accordingly.
TaH, It's not the box that's off but the AL's...if you zoom in real tight you'll see that the AL's are not placed on *exact* corners. If you want it precise rather than just close...make a note of the Yaxis (price) and Xaxis (time), then double click your AL's to get the properties dialog and on the Parameters tab you can set the XY values. A bit time consuming but if you want them spot on this will do the trick.

Quoting traderathome
MT4 has an easier way, Jeff. Unlock the fork...have dots showing. Simultaneously hold down "shift" and "Ctrl". While they are down be sure to have the cursor on one of the fork lines. If not, then while they are down, move the cursor to one of the fork lines. Then, while holding them down, and with the cursor on one of the lines, simply left click and hold the click while you drag a newly created line away from the fork line. Release all and there you have a new line perfectly parallel to the fork.
Problem with this is it copies all of the AL's formation, not just one line. This is a real problem with drawing the AL's in MT, I'm working on the problem but it's taking a bit longer than I thought.
Listen to the whispers.... You may learn something
  • #317
  • Apr 23, 2009 12:34pm Apr 23, 2009 12:34pm
Quoting jharteam
Thanks for the tips; a newly created fork indeed; but if I just need one parallel line; isn't it my way of doing it is the only option available? If there's a better way, please let me know, TIA
Just use the process on one of the outside fork lines...
  • #318
  • Apr 23, 2009 12:34pm Apr 23, 2009 12:34pm
The pictchfork does give more accurate description of price actions going forward into the future. But I can't (and don't know) how to fit the box in a way to align the mid points and corner to the forks' vibration lines; that said, the forks' projections do describe price actions though and give more accuracy in defining the 'box'. I think the problem is the three pivotal of the forks are being tacked, in most instances, to the highs and lows of the bars.

Edited: The black lines are the pitchfork and the red lines are half a standard deviation of the median lines.
Attached Image (click to enlarge)
Click to Enlarge Name: EUR ICCE 04232009 (i).jpg Size: 149 KB
~*~You are only one trade away from humility~*~
  • #319
  • Apr 23, 2009 2:11pm Apr 23, 2009 2:11pm
Guys, If you are researching Andrews PForks, Get a room, please.

But with all the scurry running around I did find a nugget or two that reminded me of this idea.

Chart First. Questions later.
Attached Image (click to enlarge)
Click to Enlarge Name: fib rev engineered 29 eurusd x 1min zoom.gif Size: 58 KB

The Bue BarZones =
1)Horizontals are... The Lenght of the Box. {ie. (BIG CLUE HERE) The Time It Spent In The Channel}

2) Yeah! You guessed it. Like an Irish Horsetrader giving you a backhand, The Verticals are the boundaries of what we refuse to pay/accept as your offer.

Too Many Lines but you can dispense with quite a few of them as you get to understand it. I Put them in for explantion purposes.
  • #320
  • Apr 23, 2009 3:18pm Apr 23, 2009 3:18pm
Quoting Bemac
Guys, If you are researching Andrews PForks, Get a room, please.

But with all the scurry running around I did find a nugget or two that reminded me of this idea.

Chart First. Questions later.
Attachment
The Bue BarZones =
1)Horizontals are... The Lenght of the Box. {ie. (BIG CLUE HERE) The Time It Spent In The Channel}

2) Yeah! You guessed it. Like an Irish Horsetrader giving you a backhand, The Verticals are the boundaries of what we refuse to pay/accept as your offer.

Too Many Lines but you can dispense with quite a few of...







Thank You


Best,
Tom
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