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Joe: see my reply to Bill --
BTW....I agree with your list of enhancements for discretionary trading.
Poor Tomasz, how to create the tool that appeals and is usable by both
camps (system designers, discretionary traders, and the rest). Maybe by
2006 and then try and read the help file that comes with it.
Every piece of software has its pros and cons -- DT has some good
drawing tools and some weird things too. AG has always been the best
IMHO of drawing tool integration. AB best in system design.
Abracadabra, Tomasz waves his programming wand and creates the best of
all three in one easy, simple-to-use-and-understand package, less than 1
meg of code and available for no more than the current price (better
yet, perhaps 30% less). Hmmmmmmm????????
Ken
-----Original Message-----
From: Joe Maywood [mailto:jmaywood@xxxxxxxxxxx]
Sent: Friday, October 17, 2003 6:50 PM
To: wavemechanic
Subject: Re: [amibroker] Fib projections
w> Unless I've missed something about the Fib tool, it
w> cannot do APP projections. I have not looked at AGet for a bit, but
I
w> don't recall it being able to do this type of projection either.
Miner's
w> DT software is a study in easy, clean Fib analysis, which is also
essential
w> for Fibonacci pattern studies.
Bill,
I use both AG and DT.
AG can do what they call a fib extension, but is actually a
projection. You use the retrace tool to do extensions. AG is also a
very nice model for studies, fibs, etc. but I agree with you about DT.
Very
clean interface and well done.
Ken,
The difference is that the measurement is occurring in the opposite
direction as a retracement / extension. For example, you want to
measure this swing with a previous swing in the same direction. So, to
use the retracement tool, you need to reverse your selection. To
measure an up swing, you need to measure the previous upswing from the
top down to get the right direction (high to low selection). Then drag
the structure complete with a meaningless trendline floating in space.
Way too much thought required in the heat of battle ;)
- Joe
w> Bill
w>
w> ----- Original Message ----- From: "Ken Close" <closeks@xxxxxxxx>
w> To: <amibroker@xxxxxxxxxxxxxxx>
w> Sent: Friday, October 17, 2003 4:56
w> PM
w> Subject: RE: [amibroker] Fib
w> projections
>>
w> Joe: yes, you are entirely correct....sorry I missed the
w> distinction.
>> I made this point to Tomasz back before there was a fib
w> tool. Dragging
>> the entire structure seems to do the same thing,
w> however, and I am not
>> sure which is more tedious, dragging or clicking a
w> third point. Seems
>> pretty moot to me. That said, however, I
w> think the best projection is
>> that programmed into Advanced Get.
>>
>> Ken
>>
>> -----Original Message-----
>> From: Joe
w> Maywood [mailto:jmaywood@xxxxxxxxxxx]
>> Sent: Friday, October 17, 2003
w> 4:04 PM
>> To: Ken Close
>> Subject: Re: [amibroker] Fib
w> projections
>>
>> Hello Ken,
>>
>> Friday, October 17,
w> 2003, 2:16:55 PM, you wrote:
>>
>> KC> The fib drawing tool can be
w> configured to show fib extensions as
>> well as
>> KC>
w> retracements. Draw a fib retracement as per the help file between
>>
w> two
>> KC> points. Position your cursor over some part of the fib
w> lines and
>> the
>> KC> cursor will turn into a 4 arrow
w> cursor. Double click to open the
>> KC> settings box. Click
w> on the tab labeled Fibonacci and you will be
>> able
>> KC> to set
w> extension ratios, such as 127.2, 161.8, 268.8 etc. There is
>>
w> a
>> KC> check box labeled "Show extensions" that must be checked to
w> see
>> these.
>>
>> KC> Hope this helps.
>>
>>
w> Ken,
>>
>> Actually a fib projection is different than a fib
w> extension which is
>> what you are describing. An extension is a > 1.0
w> retracement from the
>> same two points that you would use for a standard
w> retracement.
>> A projection, on the other hand, requires 3 points, two for
w> the distance
>> being projected and a third to position the start of the
w> projection.
>>
>> While this can be done, by doing a "reverse"
w> retracement and dragging
>> the whole fib structure to the appropriate
w> starting position (making
>> sure you don't have snap to price on) its very
w> tedious.
>>
>> I mentioned this, amongst similar enhancements, to
w> Tomasz a while back
>> and really didn't get any firm commitment. There are
w> a number of drawing
>> tools like this that would really benefit us
w> discretionary traders, but
>> the system traders in the group, by far, have
w> the loudest voice...
>>
>> - Joe
>>
>>
>>
>>
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--
Best regards,
Joe mailto:jmaywood@xxxxxxxxxxx
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