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Bill,
I have my own concept of waves and cycles but I do agree that as long
as there is sufficient volume they will form, even below daily
timeframes. There is a cut off point though, below which I expect
them to be fragmental, and below that where they don't exist at all.
(I am interested to know what happens below the cut off point as
well).
I have also found that while waves and cycles are generally
characterized by variance there is an underlying sameness about them
(almost like a template that varies in dimension rather than shape).
(I don't use Fibonacci - I am sceptical but maybe we can swap notes
on that some day).
What is EW and So9?
brian_z
--- In amibroker@xxxxxxxxxxxxxxx, "wavemechanic" <timesarrow@xxx>
wrote:
>
> Herman:
>
> RT systems may or may not work for EOD or higher times. Depending
on the time frame, indicator-based system parameters often tend to be
time frame specific. On the other hand, systems based on price
patterns and levels (e.g., Fibonacci patterns, triangles, EW, So9,
etc.) are fractal and work very well for all time frames.
>
> Bill
> ----- Original Message -----
> From: Herman
> To: brian_z111
> Cc: amibroker@xxxxxxxxxxxxxxx
> Sent: Sunday, March 02, 2008 6:12 AM
> Subject: Re: [amibroker] Re: Pattern Searching within AB
>
>
> without specific reference to Brian's email below, in my limited
experience I found that:
>
>
>
>
> 1) EOD bars are distinctly different from intraday bars. imo, the
primary reason for this is that, except perhaps at the market open or
close, intraday bars are not synchronized at any point in time. EOD
bars have distinct patterns that can be traded but do not exist in
intraday bars, i.e., Real-time systems do not necessarily work in the
daily time frame, or vise versa.
>
>
>
>
> 2) Intraday bars gain random content quickly when you reduce the
period to less than about 3 minutes. At which period this happens
depends also on volume.
>
>
>
>
> 3) In very short time frames, say less than 1-2 minutes, data and
Internet delays start to play a major role. In this range it is
possible to develop HG systems with local data that fail in real-
trading. See my post on this on the UKB. Delays also vary with the
number of stocks you trade (your system's resources) and market
volume (at open and close).
>
>
>
>
> 4) While I have never worked with longer than daily bars i know
that daily bars have features that do not, and cannot, exist in
weekly and longer time frames. Similarly, weekly and longer periods
may have their own unique features.
>
>
>
>
> 5) imo, the OHLC bar structure is obsolete. Imagine the design
advantage if you knew the HL precedence. Of course, in the majority
of cases, you can be sneaky and calculate HL precedence by assuming
that the price follows path of least resistance from the Open to the
Close... or subscribe to real-time data.
>
>
>
>
> best regards,
>
> herman
>
>
>
>
>
>
>
>
>
>
> For tips on developing Real-Time Auto-Trading systems visit:
>
> http://www.amibroker.org/userkb/
>
>
>
>
> Saturday, March 1, 2008, 11:47:43 PM, you wrote:
>
>
>
>
> > Rounding off my contribution on this topic.
>
>
>
>
> > Most of my work, so far, has been based around EOD data
(exclusively in
>
> > stocks).
>
>
>
>
> > I consider that daily bars are the natural rhythm of the market.
>
> > I also regard them as nothing more, nor less, than barometers
of market
>
> > sentiment.
>
>
>
>
> > For macro trading, if we look at the markets in weekly/monthly
time
>
> > frames we are seeing exactly the same information that we see
in daily
>
> > timeframes,except that is an approximate summary.
>
>
>
>
> > Traders who want to see the macro picture with greater accuracy
can do
>
> > this by marking the major pivot points (write code for the
daily
>
> > timeframe to do that).
>
>
>
>
> > (Sorry I can't provide code at the moment).
>
>
>
>
> > If this is done it is successful, although I concede it is
harder to
>
> > follow the visual cues because of the limited number of bars
that can
>
> > be viewed in one screen (technically it is successful but I
have no
>
> > comment, for or against, it's usefulness for trading).
>
>
>
>
> > IMO intraday bars, at around the 5 minute mark, are an
extension of the
>
> > daily timeframe and they can be successfully used to finesse
entries
>
> > and exists for EOD strategies.
>
>
>
>
> > As an aside.
>
>
>
>
> > Re: single bar patterns.
>
>
>
>
> > Once again, IMO, they are a summary (shorthand notation) of the
>
> > underlying bar patterns.
>
> > I have made an effort to train my mind to know what info the
single bar
>
> > patterns are relaying to us, about the 'mood' of the market, in
that
>
> > timeframe (similar to the way in which musicians read music).
>
>
>
>
> > I don't know exactly how successful I have been, or how much
that
>
> > impacts on my trading, but it is quite good fun and it does
have it's
>
> > uses.
>
>
>
>
> > (It is consistent with my intention to strengthen my mental
>
> > capabilities, for trading, by not over relying on computer
memory).
>
>
>
>
> > From my point of view, very little of what else is available
>
> > in 'classical' TA is of any value.
>
>
>
>
> > I consider that the topic (patten recognition) is finite and
that at a
>
> > personal level I have conceptually exhausted the subject (after
many
>
> > hours of contemplation). That doesn't mean I have exhausted all
effort
>
> > in that area - there are still new patterns (to me) to be found
and
>
> > more detail to obtain about those I have considered.
>
>
>
>
> > I also consider that macro trading doesn't end there.
>
>
>
>
> > There is the other side of the coin.
>
>
>
>
> > If we are relying entirely on patterns, for macro trading, then
we are
>
> > only flying around on one wing (I will comment on supplementary
methods
>
> > somewhere down the track).
>
>
>
>
> > Intra-day trading, however, is another cup of tea.
>
>
>
>
> > The intraday 'patterns' are influenced markedly by the
mechanics of the
>
> > market (exchange hours, overnight cessation of trading, morning
versus
>
> > afternoon session, opening versus close, carryover action from
the
>
> > previous day etc) so it has some peculiarities of it's own.
>
>
>
>
> > Further to that, at the sub-micro level (tick trading),
continuity
>
> > breaks down into discrete packages (perhaps there are new
things to
>
> > find out about that).
>
>
>
>
> > I look forward to Hermans efforts to push that boundary.
>
>
>
>
> > Like Herman I believe that the more we learn about what is
ahead of us
>
> > the more we understand what is behind us.
>
>
>
>
>
>
>
> > brian_z
>
>
>
>
>
>
>
>
>
>
>
>
>
> > --- In amibroker@xxxxxxxxxxxxxxx, "brian_z111" <brian_z111@>
wrote:
>
>
>
>
> >> Should be fun.
>
>
>
>
> >> Not posting against you.
>
>
>
>
> >> Just a philosophical observation.
>
>
>
>
> >> In nature, when we zoom in, we move from the discrete to the
>
> >> continuous. Order disintegrates at the boundary (objectively
we 'see'
>
> >> no organizing principality in CHAOS).
>
>
>
>
> >> In trading, when we zoom in, we move from the, apparently,
continuous
>
> >> to the discrete.
>
>
>
>
> >> brian_z
>
>
>
>
>
>
>
>
>
>
>
>
>
>
>
>
> > Please note that this group is for discussion between users
only.
>
>
>
>
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>
> > SUPPORT {at} amibroker.com
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>
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>
> >
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> --------------------------------------------------------------------
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>
>
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