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DT:
The Babson lines (sometimes called Action/Reaction
lines) are simply lines parallel to trendlines or the median line for a
pitchfork (standard or Schiff construction). Here are Babson lines that
were drawn "out of the air" for the time frame that you used for N225 using
A,B,C pivots. The levels and corresponding colors are shown in the dialog
box. The options for line extension to the left and "warning" lines above
and below are chosen. The second chart shows a Schiff pitchfork with the
same A/R lines (see dialog box). Depending on length of time being
studied, log scaling might be indicated for either one. Bottom line,
imo, these constructions can be useful but as with any indicator should be
used in conjunction with other indicators and not in a vacuum. I
suspect that you lean toward mechanical systems. IMO, unless one
has a remarkably sophisticated system charting tools are most probably not a
good basis for such systems. Indicators of this nature identify
"heads up" areas in the future that together with other analysis translate into
buy/sell decisions.
Bill
<BLOCKQUOTE
>
----- Original Message -----
<DIV
>From:
DIMITRIS
TSOKAKIS
To: <A title=amibroker@xxxxxxxxxxxxxxx
href="">amibroker@xxxxxxxxxxxxxxx
Sent: Saturday, June 12, 2004 12:06
PM
Subject: [amibroker] Re: Oblique Fib
Lines and the historical support
Bill, thank you for the info, I had no idea about
Babson etc, I will check it out.Since many programs [as you write]
include this charting tool, it is easy now for amibroker users to see the
same graphs.It would be interesting to give us a *useful*
example.Dimitris Tsokakis --- In <A
href="">amibroker@xxxxxxxxxxxxxxx,
"wavemechanic" <wd78@x...> wrote:>
DT:> > What you are drawing are known as Babson lines (Babson of
Andrews (median line)-Babson fame). Many programs have this included
as a charting tool with fully adjustable reaction levels so that one can
easily specify percentage, Gann, Fibonacci, etc. I look at them from
time to time and sometimes they are useful. I would not be surprised
if TJ does not have plans to include them in the charting tools.>
> Bill> ----- Original Message -----
> From: Dimitris Tsokakis > To:
amibroker@xxxxxxxxxxxxxxx > Sent: Saturday, June 12, 2004
8:35 AM> Subject: [amibroker] Oblique Fib Lines and the
historical support> > > Some historical
support lines may be important for the next Fib
levels.> Move your cursor to the past to see the impact
of previous support lines.> > // Oblique Fib
Lines and the historical support> x = Cum(1);per =
5;s1=L;s11=H;> pS = TroughBars( s1, per, 1 ) ==
0;> endt= SelectedValue(ValueWhen( pS, x, 1
));> startt=SelectedValue(ValueWhen( pS, x, 2
));> dtS =endt-startt;> endS =
SelectedValue(ValueWhen( pS, s1, 1 ) );> startS =
SelectedValue( ValueWhen( pS, s1, 2 ));> aS =
(endS-startS)/dtS;bS = endS;> trendlineS = aS * ( x -endt )
+ bS; > SU =
IIf(x>startt-1,trendlineS,-1e10);>
Plot(SU,"SU",colorYellow,styleThick);>
Plot(C,"C",1,64);b=BarIndex();>
X1=ValueWhen(Cum(IsTrue(SU))==1,b);>
Y1=ValueWhen(b==X1,SU);>
X2=LastValue(b);Y2=LastValue(SU);>
SLOPE=(Y2-Y1)/(X2-X1);>
YP=LastValue(Highest(SU/SU*H));>
XP=ValueWhen(H==YP,b);>
HL0=YP+SLOPE*(b-XP);>
DIST=ValueWhen(H==YP,H-SU);>
HL1=YP-0.382*DIST+SLOPE*(b-XP);Plot(HL1,"\n0.382",colorTurquoise,1);>
HL2=YP-0.5*DIST+SLOPE*(b-XP);Plot(HL2,"\n0.500",colorRed,8);>
HL3=YP-0.618*DIST+SLOPE*(b-XP);Plot(HL3,"\n0.618",colorIndigo,1);>
HL4=YP-0.786*DIST+SLOPE*(b-XP);Plot(HL4,"\n0.786",colorGold,1);>
Plot((HL1/HL1)*HL0,"\nRE",colorYellow,styleThick);>
GraphXSpace=2;> > Some support 6 or 9 months ago are
quite characteristic and useful .> Dimitris
TsokakisCheck AmiBroker web page at:<A
href="">http://www.amibroker.com/Check
group FAQ at: <A
href="">http://groups.yahoo.com/group/amibroker/files/groupfaq.html
Check AmiBroker web page at:
http://www.amibroker.com/
Check group FAQ at: http://groups.yahoo.com/group/amibroker/files/groupfaq.html
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