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Bill,
These two are just a few of the possibilities. They are based on
combining two lines that have a probability of being a support or
resistance line to get a time target where both could be true at the
same time, thus increasing the probability of a reversal. I suspect
you could do just as well with Bollinger Bands and Keltner Bands for
the probability of a reversal. However, combining all 4 might be even
better.
I have thought about how to do various study like indicators in AFL.
I do not have the AFL for you, but If I were to try to do these two, I
would approach it with using a ZigZag indicator to find the
significant peaks to draw from. Then using a simple solution of two
linear equations to find the crossover points.
The question is how many of these do you want to draw? Just the last
few on the chart for human interpretation, or all history for AA. The
first is not so hard, because you can see the results and decide if
they make sense to you. The latter would require a lot more smarts in
the AFL to decide how to use the information.
It might make sense to draw them first, make an AFL that draws a few
second, then decide about AA.
My guess would be that a probability of reversal score could be
increased as price approached a given point.
However, you could also just use the support and resistance lines from
different methods and add together all the probabilities of a reversal
of each. That would automatically increase the probability as the
price approached two or more lines that are converging.
Understanding the underlying principles can lead to simpler solutions.
Best regards,
Dennis
On Jun 28, 2008, at 4:52 AM, bilbo0211 wrote:
> In Duffy's book "The Trading Advantage", he shows 2 geometrical
> constructions for predicting future turning points in price.
>
> Square and Angle Change in Trend Indicator:
>
> Draw a trend line between 2 pivot lows and a horizontal line at the
> intervening high. Where the lines cross in the future is a potential
> pivot point for prices. Same with 2 pivot highs and an intervening
> low.
>
> Dual Angle Change in Trend Indicator:
>
> Draw 2 trend lines that are angled toward each other, at least one of
> the trend lines must touch 3 pivot points (a triangle). Where the
> lines cross in the future is a potential pivot point for prices.
>
> Has anyone created an AFL for these indicators?
>
> Is it even possible?
>
> Bill
>
>
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