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No, the trendlines are objective and can be coded. They are the basis
for two similar mechanical systems I know, and I'm trying to make my
own here.
But do keep commenting :)
Martin
--- In amibroker@xxxxxxxxxxxxxxx, "epintoem" <epintoem@xxxx> wrote:
> It is obvious that whatever the parameters...you cannot code every
> single facet...I think one has to rely on a visual to be able to
> trade whatever lines are drawn...
>
> --- In amibroker@xxxxxxxxxxxxxxx, "johsun" <johanskatt@xxxx> wrote:
> > Hi,
> >
> > after rereading your post several times I'm still not sure I'm
> > getting it, but here's how I interpret it:
> >
> > If a demandline on the day after the most recent pivotlow is
higher
> > than the close, then this pivotlow (the most recent) should not
be
> > regarded a pivotlow, - and that this should result in not just
> > refraining from plotting the demandline, but retaining the
previous
> > one. (phew!)
> >
> > If this is correct then I think I'm unable to help you, too
> > difficult for me! Guess you're on your own now :) - well not on
> your
> > own, plenty of skilled people on this board, I'm sure someone
will
> > work it out if you can't do it yourself.
> >
> > Regards
> > Johan
> >
> >
> >
> >
> >
> >
> > --- In amibroker@xxxxxxxxxxxxxxx, "marmal417" <marmal@xxxx> wrote:
> > > Hi Johan,
> > >
> > > it's really two different things. The first was the arrows,
which
> > you
> > > fixed.
> > > The second is a matter of validating points. Let's say that you
> > have
> > > two pivot low points that you connect with a demand line. As it
> > turns
> > > out the close of the bar immediately after the most recent
pivot
> > > point is below the trendline. You can see what problem this
> > creates?
> > > If the stock opens unchanged the next day it will break the
> > > trendline. It has to gap up on the open to avoid this.
Therefore,
> > if
> > > the close the day after the most recent pivot low is below the
> > > trendline that would be drawn, then the pivotpoint is
> > disqualified,
> > > and the line between the two previous pivot points is kept.
Hope
> > you
> > > understand. I have a vague idea on how to do it, but haven't
> tried
> > it
> > > yet.
> > > By the way, here is the code I use now:
> > >
> > > Plot(C,"",colorBlack,styleBar);
> > > pivothigh = Ref(C,-3)<H AND Ref(H,-2)<H AND Ref(H,-1)<H AND
H>=Ref
> > > (H,1);
> > > pivotlow = Ref(C,-3)>L AND Ref(L,-2)>L AND Ref(L,-1)>L AND
L<=Ref
> > > (L,1);
> > >
> > > x1=LastValue(ValueWhen(pivotlow,Cum(1)-1,1));
> > > y1=LastValue(ValueWhen(pivotlow,L,1));
> > > x0=LastValue(ValueWhen(pivotlow AND L<y1,Cum(1)-1,1));
> > > y0=LastValue(ValueWhen(pivotlow AND L<y1,L,1));
> > > x3=LastValue(ValueWhen(pivothigh,Cum(1)-1,1));
> > > y3=LastValue(ValueWhen(pivothigh,H,1));
> > > x2=LastValue(ValueWhen(pivothigh AND H>y3,Cum(1)-1,1));
> > > y2=LastValue(ValueWhen(pivothigh AND H>y3,H,1));
> > >
> > > supplyline=IIf(x2==0,Null,LineArray(x2,y2,x3,y3,1));
> > > Plot(supplyline,"",colorRed,styleLine|styleThick|
> > > styleNoRescale|styleNoLabel);
> > > demandLine=IIf(x0==0,Null,LineArray(x0,y0,x1,y1,1));
> > > Plot(demandLine,"",colorBlue,styleLine|
> > > styleThick|styleNoRescale|styleNoLabel);
> > >
> > > PlotShapes((Cum(1)-1==x0 OR Cum(1)-1==x1)
> > > *shapeSmallCircle,colorBlue,0,L);
> > > PlotShapes((Cross(Cum(L<demandLine AND Cum(1)-2>x1),0))
> > > *shapeDownArrow,colorRed,0,H);
> > > PlotShapes((Cum(1)-1==x2 OR Cum(1)-1==x3)
> > > *shapeSmallCircle,colorRed,0,H,12);
> > > PlotShapes((Cross(Cum(H>supplyline AND Cum(1)-2>x3),0))
> > > *shapeUpArrow,colorGreen,0,L);
> > >
> > > Title= Name()+" "+Date()+EncodeColor(colorBlack) +" Open-
> "+WriteVal
> > > (Open)+" Hi-"+WriteVal(High)+" Lo-"+WriteVal(Low)+" Close-
> > "+WriteVal
> > > (Close) +EncodeColor(colorRed)+" supply line "+WriteVal
> (supplyline)
> > > +EncodeColor(colorBlue)+" demand line "+WriteVal(DEMAndline)
> > > +EncodeColor(colorRed)+"\n potential Buy "+WriteVal((y3-y2)/(x3-
> x2)
> > > +LastValue(supplyline))+EncodeColor(colorBlue)+" potential
> > > Sell "+WriteVal((y1-y0)/(x1-x0)+LastValue(DEMAndline));
> > > GraphXSpace=6;
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