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Ron,
zig and its derivatives [peak/trough] are very important [and useful]
AFL functions.
The basic application is the possibility to draw automatic trendlines.
See for example
http://www.amibroker.com/library/detail.php?id=105
http://www.amibroker.com/library/detail.php?id=288
Could you imagine T/A charts without trendlines ?
One more note : I was drawing, once upon a time, manually trendlines.
When I began automated formulas, I was surprised to see that many of
my previous trendlines were psycologically drawn to serve my
perspectives for the market at this moment. When I was Long and,
especially when I could not sell the proper time, my eye and my hand
did not see the "bad" trendlines, showing a bearish breakout.
Now, the automated breakouts are there and, no matter if I agree or
not, they imply their own [severe] rules.
The game is real and, sometimes, it has no close relation to
our "perspectives".
I pay great respect to Price, Stochastic and RSI trendlines,they help
to avoid crucial mistakes.
[The CSCO support trendline was broken some bars ago, yesterday´s -6%
*was not* a surprise. I am sure I would still expect to break $20 and
go to $25, but... ]
Dimitris Tsokakis
--- In amibroker@xxxxxxxxxxxxxxx, "mrdavis9" <mrdavis9@xxxx> wrote:
> DT, thanks a lot for a great expose of zig. The more that I found
out about zig, the less I liked him. Actually, I never did like him,
I just played with him once for a few minutes. These recent posts
about him prompted me to glance at him again for a few minutes. Ron
D
>
>
>
> ----- Original Message -----
> From: DIMITRIS TSOKAKIS
> To: amibroker@xxxxxxxxxxxxxxx
> Sent: Wednesday, August 06, 2003 6:12 PM
> Subject: [amibroker] Re: Zig is decieving?
>
>
> Ron,
> It would be better to understand how zig operates.
> [The same with other T/A functions : You should accept the
definition
> and then use it if you like it. A 3-bar MA is the average of the
last
> 3 Close values. It is the definition. It doesn t make sense to
> ask "why not another 4th bar, it was Tuesday and I want to
include
> it !
> You may include a 4th day, but you will not have a 3-bar MA, you
will
> have something else.]
> So, zig(H,10) will give a peak at point A when the prices will
fall
> more than 10% fro point A price. This is by definition and nobody
> cheats the user. This 10% drop may occur 3 or 10 or 50 bars after
> point A.
> If it happens, then an angle will appear at point A, no matter if
it
> is 3 or 10 or 50 bars back.
> This is the way zig operates. The last leg is variable and it is
> stabilised when the 10% condition is fulfilled.
> Now, when you study the past history of QQQ, you see a peak on
point
> A. You should understand [and accept]
> that this angle was placed at A some [or many] bars later.
> Zig, like the other functions, can not work the way we like.
Their
> horizon is limited by definitions.
> This is why I wrote it is wrong to use *any* zig/peal/trough
function
> in buy/sell orders. It is as absurd as to decide on Monday to
place a
> buy order for the previous Wednesday. It is impossible and any
> backtesting baring this idea will be simply wrong and
inapplicable.
> If you dont like the nature of zig function, the solution is
simple :
> Do not use it.
> Just accept a function as is, it will never become more friendly,
> even if I apply my charm.
> Dimitris Tsokakis
> PS As for the Santa Clause, he told me last year that he does not
> exist [and never was]. His statement was cool, I had no reason to
> doubt and I believed his word. In one way or another, he knows
better
> the existence theory...
> --- In amibroker@xxxxxxxxxxxxxxx, "mrdavis9" <mrdavis9@xxxx>
wrote:
> > Is there anyway to do visual historical backtesting of zig in a
way
> such that the zig code knows nothing at all about future events.
> > I obviously do not know how AFL works with zig. When I run a
scan
> on all stocks, n last days, n=1, then it is only possible for zig
to
> tell me what he knows based on the available historical data plus
the
> EOD data that I just downloaded after the markets closed on the
very
> day that I am running the scan. Now later, when I scroll the
screen
> back, various past dates will be showing on the extreme right
side of
> the chart, along with various indicator values that were computed
> using the historical data stored on my hard drive.
Apparently,
> these historical zig angles that I am seeing when I look at day
100
> of the year are not the same zig angles that would have been
computed
> on day 100 of the year if a scan had been run on day 100 of the
> year. Why not? Isn't AFL looking at only the data that was
> available up to and including day 100 of the year. In other
words,
> if I scroll back to day 1 of the year, and then scroll foreword
one
> day at time, why is this not the very same accumulation of data
that
> was stored on my hard drive when I downloaded the EOD data when I
got
> home from work on day 100. Why does zig want to cheat and look
at
> the the data from day 100+ as I scroll foreword from day 1 of the
> year. If zig is cheating under these conditions, then what is to
> stop EMA and RSI from also cheating. What you now appear to be
a
> implying about zig reminds me of how I felt when I was informed
that
> Santa Clause does not exist. I have never forgiven my older
brother
> for that revelation. My nontech mind can't fathom why zig would
> tell a different story when told to go back and look at the exact
> same data a second time. All revelations in layman's language
will
> be appreciated. Ron D
> >
> >
> >
> >
> >
> > ----- Original Message -----
> > From: DIMITRIS TSOKAKIS
> > To: amibroker@xxxxxxxxxxxxxxx
> > Sent: Tuesday, August 05, 2003 5:33 AM
> > Subject: [amibroker] Re: Revised MACDxPriceOSC (With Zig Filter)
> >
> >
> > Michael,
> > In your Buy/Sell conditions you use UTrend and DTrend.
> > This fact makes your rules unrealistic.
> > UTrend and DTrend are zig related conditions and their truth is
> known
> > some bars after the historical occurrence you see in the past
bars.
> > Dimitris Tsokakis
> > --- In amibroker@xxxxxxxxxxxxxxx, "Michael.S.G."
<OzFalcon@xxxx>
> > wrote:
> > > Working with Dennis's AFL previously posted using MACD x
> PriceOSC,
> > is a revision that also checks for current trend via zigzag
> funtion.
> >
> > Zig is Adjustable Via Parameters Dialog (CTRL-R). And Signals
> > likewise change while being Adjusted.
> > Feedback to the status of Zig is also given by Coloring of the
> > barstyle chart.
> >
> > //MACD POSC cross, By Dennis aka theoldchartreader@xxxx
> > //With Zig Confirmaion Filter by OzFalcon@xxxx <MSG>.
> >
> > AdjZ = Param("Zig",10,0,15.0,.1);
> > ZAC = Zig( Close, AdjZ );
> >
> > UTrend = ZAC > Ref(ZAC, -1);
> > DTrend = ZAC < Ref(ZAC, -1);
> >
> > t1 = OscP( 3, 6 );
> > Cond1a= Cross (t1,MACD());
> > Cond1b= MACD()>-1 AND MACD()<0;
> > Cond1= Cond1a AND Cond1b;
> > Cond2 = MACD()>Signal()-.5;
> > Buy = Cond1 AND Cond2 AND UTrend;
> > Sell=Cross(0,t1) AND DTrend;
> >
> > Color = IIf(O > C, colorBlack, colorRed);
> > Plot( Close, "Price", color, styleCandle );
> > PlotForeign( GetBaseIndex(), GetBaseIndex(), colorLightGrey );
> >
> > PlotShapes( shapeDownArrow * Sell, colorRed );
> > PlotShapes( shapeUpArrow * Buy, colorGreen );
> >
> > ZColor = IIf(UTrend, colorAqua, colorYellow);
> > Plot( ZAC, "Zig", ZColor, 3);
> >
> > /// Iterpretation
> > "Look at weekly chart first,if it is bullish,";
> > "then look at daily chart for a entry point";
> > "Use CTRL-R To adjust Zig Detail";
> >
> >
> >
> >
> >
> > Send BUG REPORTS to bugs@xxxx
> > Send SUGGESTIONS to suggest@xxxx
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>
>
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