{quote} Stevefx, Glad to see you back! First of all, many thanks for the Happs Indicator...A long while ago, I wrote you a PM (similar to this post)...but had not heard back from you. Again, thanks!!!
Your analysis of the Happs system is almost correct. The only thing I would say is that you can group the pink and the white lines together as one basic type of line on the chart. They are all 50% levels of the high and low that you've put into the indicator. (Normally the historical high and low).
A distinction is made between the whites and the pinks, which is that the whites are considered more important. There seems to be a drop off in importance as you move from levels 1-4 derivation (whites) to level 5 derivation (pinks). That drop off in importance is to be understood in a general sense, as you can tell by looking at the charts that the pinks can still play an important role in turning price around. Any line on the chart can-its just good to have a sense of which lines are more powerful most of the time.
The primary zones are formed from fib ratios in relation to the white mids, and the less important secondary zones are formed from the same fib ratio in relation to the less important pink mids.
So, the 50% levels are the backbone, yes. That includes whites and pinks. The zones are the secondary layer, the green and red recatangles, and the less important blue rectangles. The fibs are the third layer. They are formed by stretching regular fibs from between the mids of each primary zone. That's all it is, 1, 2, 3.
As far as your suggestions for the indicator. Thanks. Many folks have made suggestions of how to improve the indicator, and many of those suggestions have been good ones. The problem is that the coder is not around anymore and the code is protected-its not open source. As its against site policy to decompile code, there it will stand unless Pat the coder returns, or another coder steps ups and offers to recode the whole thing in an improved fashion.
Myself, I don't find it that big of a hassle to enter the high and low just using the Happs Phases Add indi, or to draw in the secondary zones manually. If its done once, the template gets saved and that's it.
Anyway, best of luck with everything, and thanks again for your interest and suggestions. -Steve
