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Dimitris:
Yes, you can do simple Fibonacci
retracements, but as you show it is awkward. The discussion with Tomasz
involved his suggestion of using a trendline tool plus a Study function, which
will not work. The key question revolves around the ability
of the functions in Wealth-Lab, Ensign, etc. that give the user real
control for drawing purposes. Such control permits drawing of
fan lines of various types, vertical lines for time periods, Fibonacci
arcs, complex Fibonacci retracement studies, etc. And without an
Input function, preferably one based on point and click, you will constantly be
rewriting the code, especially if you want to look at pivots from a number of
time periods, and not just the last one. And how does one handle
retracements where the "change" required for Peak and Trough are not
known? Have to evaluate that manually for each situation? Clumsy at
best. Metastock's programming infrastructure, which is not great, gets one
beyond that stage in large part because of its Input function. As a
result, Fibonacci retracement studies for 2 or 3 pivots can be done relatively
quickly by simply inputing the pivots. Etc., etc.
It seems to me that either the user should
be given a good set of canned line study tools, which is what
most programs do, or good tools for generating them. If you have
neither than there is a whole range of studies that are out of
reach.
As for your comments about your indicator,
I do not follow where you are going. My comments pertained to optimization
and arbitrary measures. I do not see how your comments relate to
mine. My "to what end" was with respect to the indicator discussion and
scan speed as it relates to optimization runs, rather than database
manipulation, which is not a factor in my trading. Please reread my note,
as I think we are talking past each other.
Bill
<BLOCKQUOTE
>
----- Original Message -----
<DIV
>From:
Dimitris
Tsokakis
To: <A title=amibroker@xxxxxxxxxx
href="">amibroker@xxxxxxxxxxxxxxx
Sent: Wednesday, July 25, 2001 3:12
PM
Subject: [amibroker] Fibonacci
retracements
Dear Bill,
You know that i like your comments and criticism,
but it is nice to be fair.
I write that I need 22 sec to run a composite
indicator formula and you understand that
"technology is getting faster and
faster".
Bill, it is not a matter of technology. Everybody
in the world has the same technology, no
matter if you call it C++ or jscript. But
everybody is not running such a formula in 22 sec.
I write that I need ~5 sec to delete 700stocks
from my data base and you wonder about
the "what end".
Would you prefer to delete stock by stock for the
next 7 days ?
If it is a matter of technology, tell meplease
how many flat technological achievements
like code of #3334 did you meet last week or last
month or last year.
Let me believe here that #3334 is not a flat
technological achievement and that you
do not meet 10 similar # everyday.
As for Fibonacci retracements "with or
without the Study function", I do not know what
are you trying to say and if you prefer to draw
by hand or not, but if your problem is
"precision and accuracy", I know that I can
have precision and accuracy when I deal
with functions and here is an example for your
Indicator Builder.Main Fibonacci lines,
drawn as accurate as possible, not only for
vision purposes but ready to accept cross
conditions that you like:
<FONT face=Arial
size=2>maxgraph=8;p1=peak(h,10,1);graph0=p1;t1=trough(l,5,1);graph2=t1;graph2style=1;df=p1-t1;f1=t1+0.38*df;f2=t1+0.5*df;f3=t1+0.618*df;graph1=f1;graph3=f2;graph4=f3;graph5=close;graph5style=64;graph1color=6;graph3color=8;graph4color=12;
If you need more lines and you are not familiar
with AFL and you do not prefer to be,
please let me know. I will add for you more
lines in above code to help your
investigation.
Attached gif is from my Amibroker. May be
whithout fuzzy graphics, but right to the point
you wrote:"trading purposes" and there is no
reason to wait for a trillion years.
The lines are drawn automatically everyday, (it
is the part of Fib lines after a decline)
and you do not need any sophisticated draw tool.
If such a tool exists, it is very nice
and you may use it if you
like.
I would be glad if it helps.
Thank you for dialogue.
Dimitris Tsokakis
P. S. Your last phrase is the best : "the nature
of the beast".
I will translate it into AFL tomorrow.
And this is not a joke. Your use of Yahoo! Groups is
subject to the Yahoo! Termsof
Service.
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