|
PureBytes Links
Trading Reference Links
|
In a few words, my scenario comes from the
x = Cum(1);
per = Param("per",2.5,2,20,0.5);// CALIBRATE THE ZIG() SENSITIVITY
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;//SUPPORT LINE
pR = PeakBars( s11, per, 1 ) == 0;
endt1= SelectedValue(ValueWhen( pR, x, 1));
startt1=SelectedValue(ValueWhen( pR, x, 2 ));
dtR =endt1-startt1;
endR = SelectedValue(ValueWhen( pR, s11, 1 ) );
startR = SelectedValue( ValueWhen( pR, s11, 2 ));
aR = (endR-startR)/dtR;bR = endR;
trendlineR = aR * ( x -endt1 ) + bR;//RESISTANCE LINE
first=Min(startt,startt1);Last=Max(endt,endt1);
d=10;// INCREASE d TO EXTEND THE LINES
bullishbreakout=x>endt1 AND Cross(C,trendlineR);
bearishbreakout=x>endt AND Cross(trendlineS,C);
Plot(C,"Close",IIf(bullishbreakout,colorBrightGreen,IIf
(bearishbreakout,colorRed,colorBlack)),64);
Plot(IIf(x>=first -d ,trendlineS,-1e10),"Support",colorBrightGreen,1);
Plot(IIf(x>=first-d ,trendlineR,-1e10),"Resistance",colorRed,1);
for per=6.
The most recent negative channel is for per=2.5, but it would be more
robust if confirmed for per=3.
Dimitris
--- In amibroker@xxxxxxxxxxxxxxx, "DIMITRIS TSOKAKIS" <TSOKAKIS@xxxx>
wrote:
>
> Yuki,
> From the technical point of view, the Nov16 high [11,268.81] is not
> recognized as a Peak [yet]. We were needing a H below 10,930 for a
3%
> percentage.
> When this Nov16 will be a Peak, the resistance trendline will be
> descending. It means any future bullish breakout will occur at
lower
> prices [draw manually the trendline linking Oct7-Nov16 highs to see
> what I mean...].
> This fact will define a negative parallel channel for the next 10
> days or so.
> Another important issue : The Nov15 gapup is quickly replaced by a
> worse Nov22 gapdown. Nobody has any reason to try the 11,000 level
> now...
> Dimitris
> --- In amibroker@xxxxxxxxxxxxxxx, Yuki Taga <yukitaga@xxxx> wrote:
> > Hi DIMITRIS,
> >
> > Saturday, November 20, 2004, 5:36:00 AM, you wrote:
> >
> > DT> How about the ^N225 open on Monday ? [technical or non
technical
> > DT> opinions will be appreciated...] Dimitris
> >
> > Has to be ugly, and I'm quickly losing my enthusiasm for the long
> > side of this market. Do you want a number? ^^_^^ Okay. The 225
> > will open at 10,988.13. It may close there as well. ^_^
> >
> > I see the dollar @ 103.1 on this fine Saturday morning in the Big
> > Mikan. So, exporters are not going to be too happy about this.
> >
> > What has kept the market alive this year (and contributed greatly
to
> > it last year as well) is the so-called "domestic demand" stocks.
> > These are services (like banks), real estate companies, etc.,
that
> do
> > not (in theory anyway) rely on exchange rates or exports for their
> > earnings.
> >
> > You can see what has happened, too, as investors have grabbed this
> > idea and run with it. Since the low in the spring of '03, major
> > banks are up several hundred percent (and institutions were
pouring
> a
> > river of money into them yet this week, until Friday, when they
> > didn't show up). Real estate companies have tripled or
quadrupled.
> > Electronics, semiconductors, etc., are lucky if they have doubled.
> > Some did double and almost triple on the initial surge last year,
> but
> > they have given a lot back. NEC, for example, ran from 350 to
1000,
> > but is now back below 600 and dead in the water at the moment.
> >
> > But the "domestic demand" story only works (IMO) if the export
> sector
> > isn't acting as a genuine drag on the economy. It isn't right
now,
> > but profits have surely peaked for this cycle, and there are a
lot
> of
> > questions looking forward, as we can see from this morning's
> business
> > headlines.
> >
> > I expect a lot of choppiness on Monday here, DT. We are at a
> > dollar/yen level that begs MOF intervention. However, there may
not
> > be much here, as it was last year's interventions that have placed
> > such a strain on the Euro, forcing it to be the prime victim of
> > dollar weakness. Politically, that isn't going to play very well
> > this time around. Nonetheless, traders will be on guard for it,
and
> > may not push the downside too hard, just in case.
> >
> > There will be those who will try and defend 11,000. Clearly that
> > line is meaningless this year, however, it's been crossed more
times
> > than a pilgrim visiting Vatican City. ^^_^^ The recent leg is
not
> > in trouble technically (again IMO) until we get a close below
10,900
> > (this is near term, however, mid term that level will rise), just
as
> > Friday's train wreck in the US does not change market dynamics
yet.
> > It just bled off some hyperventilation, which certainly was in
order
> > and needed to be vented.
> >
> > I think it's safe to say here, however, that the powerful rally I
> was
> > hoping for is not materializing. Not yet, anyway. Most of the
time
> > the smart thing to do is cautiously play at the margins anyway,
> > awaiting those rare periods when it pays (significantly pays, I
> might
> > add) to be rather reckless. I'd hoped we were nearing one of these
> > periods, but the signs have weakened considerably. Monday, I may
> > take the day off. I can't imagine a scenario on Monday that would
> > make me want to take a position either way. The fall colors are
> > beginning to cascade down the mountainsides all the way to the sea
> > now, and the parks in Tokyo are beginning to look like great
places
> > to have a lunch date with my friends Mr. Chardonnay, Mr. Baguette,
> > and Ms. Frommage. (^_-)
> >
> > Best,
> >
> > Yuki
------------------------ Yahoo! Groups Sponsor --------------------~-->
$9.95 domain names from Yahoo!. Register anything.
http://us.click.yahoo.com/J8kdrA/y20IAA/yQLSAA/GHeqlB/TM
--------------------------------------------------------------------~->
Check AmiBroker web page at:
http://www.amibroker.com/
Check group FAQ at: http://groups.yahoo.com/group/amibroker/files/groupfaq.html
Yahoo! Groups Links
<*> To visit your group on the web, go to:
http://groups.yahoo.com/group/amibroker/
<*> To unsubscribe from this group, send an email to:
amibroker-unsubscribe@xxxxxxxxxxxxxxx
<*> Your use of Yahoo! Groups is subject to:
http://docs.yahoo.com/info/terms/
|