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I understand the danger of unconfirmed
peaks and troughs. I wouldn't use the indicator to generate signals. I likeit
for pattern detection. Understanding how it works helps me use it more
effectively for this purpose.
<<as new closing
data is introduced into the chart the value of minretracement will change. when
it <<does the the zig sensitivity will be recalculated but it will bethe
same on the whole chart. If <<tonight's calculation returns 5 then the
zigzag (and Peaks) will be drawn based on 5%. If <<tomorrows data returns
a 10 then the zigzag will be redrawn using a setting of
10.
<FONT face="MS Sans Serif"
size=2>
Now I see the value of use the
LastValue function from a real time perspective. For historical studies,
I've made do with dividing my data into ranges and calculating the range
separately.
PeakValue = iif(C > 1500, peak(C, 3.6,
1), iif(C > 1000, peak(C,2.4,1), peak(C,1.2,1))) ;
What is the practical limit for nested
iifs?
Thanks for your help.
Esteban
<BLOCKQUOTE
>
----- Original Message -----
<DIV
>From:
<A title=jcasavant@xxxx
href="">Jayson
To: <A title=amibroker@xxxxxxxxxx
href="">amibroker@xxxxxxxxxxxxxxx
Sent: Thursday, October 31, 2002 7:05
PM
Subject: RE: [amibroker] peak - trough
with variable
<SPAN
class=287554623-31102002>Estaban,
<SPAN
class=287554623-31102002> no, until such time as your counter movehas
exceeded 1.2% the turn is open change. Zig may show the turn to have occurred
but until the turn exceeds the setting it is capable of reversing its self and
simply erasing any trace of its error. this is why zig can be so dangerous to
rely on. when you system test zig is always correct. All of the turns have
been confirmed. In real life the system will not trade the way zig says it
does.
<SPAN
class=287554623-31102002>
<FONT face="MS Sans Serif" color=#000000
size=2>peak(ARRAY, change, n=1)
<SPAN
class=287554623-31102002>Peak= a peak means simply the price today islower
than the price yesterday and the price yesterday was higher than the price 2
days ago. Picture a roof line. Peak is the peak of the
roof
<SPAN
class=287554623-31102002>
<SPAN
class=287554623-31102002>Array= high, Low, Close value from which the
calculations are made
<SPAN
class=287554623-31102002>
<SPAN
class=287554623-31102002>Change= the sensitivity of the confirmation.in this
case a stock who's move exceeds 1.2% cannot result in a vanishing signal.any
counter move after the 1.2% will result in a new leg being
drawn. If the new move does not exceed 1.2 percent and instead resumes
the prior move than the turn is erased and appears to have never been there to
begin with.
<SPAN
class=287554623-31102002>
<SPAN
class=287554623-31102002>n=1 = which of the turns in the zigzag are you
referring to? 1= the last turn. 2= the turn prior to that, etc,
etc
<SPAN
class=287554623-31102002>
<SPAN
class=287554623-31102002>if you are still lost contact me off list and I will
send some pictures,
<SPAN
class=287554623-31102002>
<SPAN
class=287554623-31102002>
Jayson
<FONT face=Tahoma
size=2>-----Original Message-----From: Esteban
[mailto:ygroups@xxxx]Sent: Thursday, October 31, 2002 6:20
PMTo: amibroker@xxxxxxxxxxxxxxxSubject: Re: [amibroker]
peak - trough with variable
I think I've got it. Let me restate it,
correctly, I hope.
If the current bar reaches a
retracement of 1.2% from the last highest bar that is uncorrected,
then it identifies that last high as the peak. Right?
<<The code I posted uses the
high value to determine the turning points. If you used the close then
zig <<would use those values.
Here's where I get confused, but I
think I've got it now:
<FONT face="MS Sans Serif"
color=#000000>peak(ARRAY, change, n=1)
<FONT face="MS Sans Serif"
color=#000000>The point from which the peak function measuresthe %
change backwards to the high
is the ARRAY in the formula. Right? So peak(L, 1.2 , 1) would measure back to
the high point from the current low, evaluating whether or not it was >=
1.2%.
<FONT face="MS Sans Serif"
color=#000000>
<FONT face="MS Sans Serif"
color=#000000>If so then using the High value (as opposed to Low or Close)
to measure from a peak seems odd, as the retracement may have taken
place from the other price points of the bar. Part of why I've been confused
about this whole topic, since the examples I've seen use the
high.
Sorry to beat this to death. I've read
lots of posts concerning zig-zag and searched the manual, but I've never
gotten the concept clear in my mind.
Esteban
<BLOCKQUOTE
>
----- Original Message -----
<DIV
>From:
<A title=jcasavant@xxxx
href="">Jayson
To: <A title=amibroker@xxxxxxxxxxxx
href="">amibroker@xxxxxxxxxxxxxxx
Sent: Thursday, October 31, 20023:59
PM
Subject: RE: [amibroker] peak - trough
with variable
<SPAN
class=728374720-31102002>Esteban,
<SPAN
class=728374720-31102002>no, peak looks BACK not forward. it uses zigzag to
determine turns in the market based on your setting, in your case 1.2%.The
code I posted uses the high value to determine the turning points. If you
used the close then zig would use those values. Zig is not time based
but uses a percentage retracement to define a turn. from the "help"
file.....
<SPAN
class=728374720-31102002>
PEAK
(AFL 1.1)
SYNTAX
peak(ARRAY,
change, n = 1)
RETURNS
ARRAY
FUNCTION
Givesthe value
of ARRAY n-th peak(s) ago. This uses the Zig Zag function
(see Zig Zag) to determine the peaks. n =1 would return the
value of the most recent peak. n =2 would return the value of
the 2nd most recent peak. Caveat: this function is based on
Zig-Zag indicator and may look into the future.
EXAMPLE
<FONT face=Arial color=#0000ff
size=2>peak(close,5,1)
<SPAN
class=728374720-31102002>As DT correctly pointed out, the last turn in the
series is always open to change. tonight's peak may show a turn yesterday.
if the market corrects prior to your threshold being met (1.2%) then
that peak will simply disappear. For this reason testing with
zig/peak/trough is very dangerous. to see how peak works drop zigzag
on your price plot
Jayson
<FONT face=Tahoma
size=2>-----Original Message-----From: Esteban
[mailto:ygroups@xxxx]Sent: Thursday, October 31, 2002
3:26 PMTo: amibroker@xxxxxxxxxxxxxxxSubject: Re:
[amibroker] peak - trough with variable
Jayson,
LastValue function works great!
My formula now works.
I'm still unclear, however, on how
the peak function works.
Please correct my following
understanding:
<FONT
color=#0000ff>Peak(H,1.2,1)
At each bar, this formula looks ahead to find a retracement of a least 1.2%
from that current bar's high and verifies that there are no higher highs
within the retracement period. If it doesn't find this condition, it uses
the last peak value.
What would the formula do ifit used
Close in place of High? If the forward retracement was in place at 1.2%from
the current bar close, would it the peak be the high of the current bar, or
the close? Or do I have it completely wrong?
<<Jayson said:
<<you want
the peak of peakvalue. since peakvalue is a high you should ask for
peak(peakvalue......
<FONT
face="MS Sans Serif"><<Peak(<FONT
color=#282828>peakvalue,<FONT
color=#0000ff>LastValue(<FONT
color=#282828>MinRetracement),<FONT
color=#ff00ff>1)
;
<FONT face="MS Sans Serif"
color=#282828>
I don't
understand this concept of peak of peak value. I
used:
<FONT
face=Arial>MinRetracement = <FONT
color=#ff00ff>6/<FONT
color=#000000>C * <FONT
color=#ff00ff>100<FONT face=Arial
size=2> ;
PeakValue
=Peak(H<FONT
color=#282828>,LastValue<FONT
color=#282828>(MinRetracement<FONT
color=#282828>),1<FONT
color=#282828>)
;
<BLOCKQUOTE
>
----- Original Message -----
<DIV
>From:
<A title=jcasavant@xxxx
href="">Jayson
To: <A
title=amibroker@xxxxxxxxxxxxxxx
href="">amibroker@xxxxxxxxxxxxxxx
Sent: Thursday, October 31, 2002
12:45 AM
Subject: RE: [amibroker] peak -
trough with variable
<SPAN
class=266273605-31102002>Esteban,
<SPAN
class=266273605-31102002>
I'm wanting to find the last
peak based on a fixed number of points, rather than percentage. So I
set a variable to the fixed points value I want divided by the high *
100 to give me a percentage to use in the peak formula. But I get an
error. Maybe the function needs a value not subject to
fluctuation for its underlying calculations. Is there a way I
can use this function with a fixed number of points?
MinRetracement = <FONT
color=#ff00ff>6/C * 100 ; This
gives a value of 1.2 percent when C =500.
PeakValue = <FONT
color=#0000ff>Peak(H,1.2,1) ;
This finds the peaks like I want, when price is in the range of
500.
PeakValue
Peak(H,MinRetracement,1) ; Gives an error.<FONT face=Arial
color=#0000ff><SPAN
class=266273605-31102002> <FONT
face="MS Sans Serif">
<SPAN
class=266273605-31102002>you want the peak of peakvalue. since peakvalue
is a high you should ask for peak(peakvalue...... your change
setting must be constant so ask for the lastvalue of
minretracement....
<SPAN
class=266273605-31102002>
<SPAN
class=266273605-31102002>try......
<SPAN
class=266273605-31102002>
<FONT
face=Arial>
MinRetracement = 6<FONT
color=#282828>/C<FONT
color=#282828> * 100<FONT
color=#282828> ;<FONT
size=2>
PeakValue = Peak<FONT
color=#282828>(<FONT
color=#000000>H<FONT
size=2>,1.2<FONT
color=#282828>,1)
;<FONT
face=Arial>
Peak(<FONT
color=#282828>peakvalue,<FONT
color=#0000ff>LastValue(<FONT
color=#282828>MinRetracement),<FONT
color=#ff00ff>1)
;<FONT
face=Arial>
jayson
<SPAN
class=266273605-31102002>
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