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Hi,
Gann Swing points allow one to analyze prices as they swing from
major highs to major lows and vice-versa.
6 bar Gann swing points indicate major lows or major lows with the
condition that atleast 6 bars should have passed before such major
lows or highs can form.
Does that mean that every time 6 bars have passed a major low or
high is formed immediately? No. A major low or high is formed after
atleast 6 bars have passed.
You have to connect a major low as indicated by this 6 bar Gann
swing point to the recent high or connect a major low as indicated
by this 6 bar Gann swing point to the recent low to form a triangle
and this triangle is divided by a Gann method which I dont know how
to arrive at the pullback limits and projected into future to arrive
at Target breakout limits by a Gann method which I dont know how.
Maybe some of the books written by him talks about it.
Take a look at www.gfds.com for a tool called Target Shooter under
the Larry Williams Batting 800 money tree package. This tool draws
the Target Limits for breakouts and Pullback limits for Counter
trend pullbacks. You may have to also get their software called
Target Navigator (TN) to use this tool. Previously they had a
software called Navigator for windows which allowed us to
read/export metastock and CSI files. This new software TN does not
allow that and they discontinued the old one (major bummer). But I
don't know whether it is worth to get this software just to use this
technique. Maybe able to code it in AB if we can find out how they
did it. They have a trial version.... Some AFL guru may be able to
do it. I am a newbie to AB.
I experimented with several swing points (1 bar, 2 bar, 3 bar etc.,)
and finally settled on 6 bars just as they recommended and I had
success with it.
They also have a tool called "Zero Balance" indicator which is
supposed to predict where the next swing bar is supposed to occur
but I am not sure how accurate it is... Why would anybody want to
know that. Who cares. If your limits are not touched, then let
your stops protect your profits or else reverse your position on a
reversing signal....
Pal
--- In amibroker@xxxxxxxxxxxxxxx, "Gary A. Serkhoshian"
<serkhoshian777@xxxx> wrote:
> Pal,
>
> Could you please elaborate a bit on the 6 bar Gann swing points.
I am just digging into Gann's work, and this is something I haven't
stumbled across.
>
> Thanks as you've added a lot to this thread.
>
> Regards,
> Gary
>
> palsanand <palsanand@xxxx> wrote:
> Hi,
>
> A brief counter-trend pullback occurs when BandWidth is > 3% of
the
> Moving Average and a breakout occurs when BandWidth is < 3% of the
> Moving Average and accordingly I place the limits on the orders.
>
> I also use 6 bar Gann swing points to project the limits into the
> future.
>
> Pal
>
> --- In amibroker@xxxxxxxxxxxxxxx, "sloughbridge"
<sloughbridge@xxxx>
> wrote:
> > --- In amibroker@xxxxxxxxxxxxxxx, "palsanand" <palsanand@xxxx>
> wrote:
> >
> > > Interpret the signal as to whether it is a breakout or a
counter-
> > > trend change pullback using volatility (Bandwidth based on BB
or
> > ATR
> > > bands, CVol and HVR).
> >
> > Interesting stuff. Could you say more about distinguishing a
> brief
> > countertrend move from a breakout?
>
>
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