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Ken:
If I correctly understand the process that you
described, it appears to be a specific application of APP.
However, Fibonacci analysis can be used independently and need not be
locked into an EW count (that of course may or may not be correct) and usually
is not tied to EW in Fibonacci pattern studies, etc. So, in general,
APP (and any other type of Fibonacci extension/projection) can be
implemented (ideally by clicking vs. dragging) with a precise cursor (for
ease) with any set of two or three points (that are user specified in terms of
H, L, C). I gather that you are familiar with DT, so you know where I
"live."
Bill
----- Original Message -----
<BLOCKQUOTE
>
<DIV
>From:
Ken Close
To: <A title=amibroker@xxxxxxxxxxxxxxx
href="">amibroker@xxxxxxxxxxxxxxx
Sent: Saturday, October 18, 2003 10:21
AM
Subject: RE: [amibroker] Fib
projections
<SPAN
>Bill: I am going to
reply from memory and not go and check what I am about to say…sorry if it
proves inaccurate.
<SPAN
>
<SPAN
>I know fib
projections as follows (and as Advanced Get implements it):
<SPAN
>
<SPAN
>A wave 5 top might be
expected at some fib ratio projection of Wave length 1 to 3, **projected**
from the bottom or end of Wave 4. If this is not how you define a
projection, then quit reading because this is what I use and
understand.
<SPAN
>
<SPAN
>In Adv Get, you click
on the beginning of wav1 and drag to end of wave3; the program remembers this
amount, You then click on the end of wave 4 and the preselected ratios (.62,
1, 1.27, etc) are plotted upward from where you clicked, end of Wave 4.
Tops in Wave 5 might be expected to reverse at one of these “projected” wave
levels.
<SPAN
>
<SPAN
>In AB, I “thought”
that I could drag the fib array from beginning of wave 1 to the end of wave 3
and then let go of the mouse button. Then place the cursor over the fib
array until it turns into a 4 arrow cursor, hold down the left mouse button
and drag the entire array to the end of wave 4 (what I guess to be the end of
wave 4) and position the array so that the beginning of the array (or the
end/top – I don’t remember) is located at the end of wave 4. The ratios
which have been preselected will then indicate the **projections** of waves
1-3 starting from wave 4. Not as elegant as in Adv Get but still
doable. Again, all of this from memory.
<SPAN
>
<SPAN
>Ken
<SPAN
>
<SPAN
>-----Original
Message-----From:
wavemechanic [mailto:wd78@xxxxxxxxxxxx] <SPAN
>Sent: Friday, October 17, 2003 5:26
PMTo:
amibroker@xxxxxxxxxxxxxxx<SPAN
>Subject: Re: [amibroker] Fib
projections
<SPAN
>
<SPAN
>Ken:
<SPAN
>
<SPAN
>Unless I've missed something about the Fib tool, it
cannot do APP projections. I have not looked at AGet for a bit, but I
don't recall it being able to do this type of projection either. Miner's
DT software is a study in easy, clean Fib analysis, which is also
essential for Fibonacci pattern studies.
<SPAN
>
<SPAN
>Bill
<SPAN
>
<SPAN
>----- Original Message -----
<SPAN
>From: "Ken Close" <<A
href=""><FONT face="Times New Roman"
size=2><SPAN
>closeks@xxxxxxxx<FONT
face="Times New Roman" size=2><SPAN
>>
<SPAN
>To: <<A
href=""><FONT
face="Times New Roman" size=2><SPAN
>amibroker@xxxxxxxxxxxxxxx<FONT
face="Times New Roman" size=2><SPAN
>>
<SPAN
>Sent: Friday, October 17, 2003 4:56
PM
<SPAN
>Subject: RE: [amibroker] Fib
projections
<SPAN
>
<SPAN
>> Joe: yes, you are entirely correct....sorry
I missed the distinction.<SPAN
><FONT
face="Times New Roman">> I made this point to Tomasz back before there was
a fib tool. Dragging<FONT
face="Times New Roman">> the entire structure seems to do the same thing,
however, and I am not<FONT
face="Times New Roman">> sure which is more tedious, dragging or clicking a
third point. Seems<FONT
face="Times New Roman">> pretty moot to me. That said, however, I
think the best projection is<FONT
face="Times New Roman">> that programmed into Advanced
Get.>
>
Ken>
>
-----Original Message-----<FONT
face="Times New Roman">> From: Joe Maywood [mailto:jmaywood@xxxxxxxxxxx]
> Sent:
Friday, October 17, 2003 4:04 PM<FONT
face="Times New Roman">> To: Ken
Close>
Subject: Re: [amibroker] Fib
projections<FONT
face="Times New Roman">> <FONT
face="Times New Roman">> Hello Ken,<FONT
face="Times New Roman">> <FONT
face="Times New Roman">> Friday, October 17, 2003, 2:16:55 PM, you
wrote:>
> KC>
The fib drawing tool can be configured to show fib extensions
as> well
as> KC>
retracements. Draw a fib retracement as per the help file
between>
two> KC>
points. Position your cursor over some part of the fib lines
and>
the> KC>
cursor will turn into a 4 arrow cursor. Double click to open
the> KC>
settings box. Click on the tab labeled Fibonacci and you will
be>
able>
KC> to set extension ratios, such as 127.2, 161.8, 268.8 etc. There
is>
a> KC>
check box labeled "Show extensions" that must be checked to
see>
these.>
> KC>
Hope this helps.<FONT
face="Times New Roman">> <FONT
face="Times New Roman">> Ken,<FONT
face="Times New Roman">> <FONT
face="Times New Roman">> Actually a fib projection is different than a fib
extension which is<FONT
face="Times New Roman">> what you are describing. An extension is a >
1.0 retracement from the<FONT
face="Times New Roman">> same two points that you would use for a standard
retracement.<FONT
face="Times New Roman">> A projection, on the other hand, requires 3
points, two for the distance<FONT
face="Times New Roman">> being projected and a third to position the start
of the projection.<FONT
face="Times New Roman">> <FONT
face="Times New Roman">> While this can be done, by doing a "reverse"
retracement and dragging<FONT
face="Times New Roman">> the whole fib structure to the appropriate
starting position (making<FONT
face="Times New Roman">> sure you don't have snap to price on) its very
tedious.>
> I
mentioned this, amongst similar enhancements, to Tomasz a while
back> and
really didn't get any firm commitment. There are a number of
drawing>
tools like this that would really benefit us discretionary traders,
but> the
system traders in the group, by far, have the loudest
voice...>
> -
Joe>
>
>
>
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