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Thanks for your reply!
Your memory serves you well, the only point I would like you to clarify is
the " the highest high with X days on either side of it." part. I am reading
from Williams Batting 800 book and it reads something like this:
If todays low is lower than the lowest low in the past seven days,
then a IR High (Important Recorded) has formed and is the highest high
since the last IR Low has formed.
By this definition (If I understand correctly) an IR High could be defined
as
early as the next day or two after the IR High is formed, (if the low is
the lowest
in the last 7 days), it also could take longer than the 7 days to determine,
depending
on how the market moves.
I would like to use this formula in the same way he does; He looks for three
successive
swings in the same direction (either up or down) to alert of a major price
reversal.
Equis replied:
"That is an indicator that we have not been able to write in
MetaStock.
Equis Support
http://www.equis.com/
http://www.equis.com/customer/support/ "
Not sure why it couldn't be programed, unless it has something to do with
the forecasting part
of the Formula "ZB8= P6+P5-P3". This formula will calculate what Zero
Balance Point 8 value will
be (in the future) by adding the values of point6 to point5 then
subtracting the value of point 3.
The sum of this calculation will determine future "price" but not exactly
when it should be plotted.
I am not as concerned to "when" it should be plotted as I am the "Value" of
the plot, If I can determine
the value as soon as possible, then I can watch other signals for "when".
Can you think of a solution? Perhaps this would work better in MS Excel?
Any thought on this would be appreciated,
Adam Hefner
-----Original Message-----
From: UG <ug@xxxxxxxxxxxx>
To: metastock@xxxxxxxxxxxxx <metastock@xxxxxxxxxxxxx>
Date: Thursday, September 17, 1998 1:09 PM
Subject: Re: Zero Balance
>It's mentioned in his batting .800 stuff too.
>
>It's a simple formula, but requires "swing values", which can ONLY be
>calculated in arrears. (The Zig-Zag is like this I think. Or am I
mistaken
>there?)
>
>Swing values go from a high swing value to a low swing value. Assume the
last
>swing value was a low one, then the next swing value is the next highest
high,
>but it must be higher than any high over the last X and *Next* X days. In
>other words, the highest high with X days on either side of it.
>
>X is usually between 4 and 7. Since you need to know the highs of the NEXT
X
>days to see if the day in question was a swing value, you can only see if
it
>was at earliest X days ago. Similar with low.
>
>Having said that, you get the last 8 or so swing values and label them
1->8; 8
>being the most recent. Zero balance says the next swing value can be
predicted
>by this simple formula. I forget it exactly, but it's something like
>S9 = S5 + S3 - S6. Something like that; that's not it.
>
>I can dig it up for you if you like.
>
>--
>========================================================================
>Why are there 5 syllables in the word "monosyllabic"?
>http://www.unixgeek.com/cgi-bin/motd.pl - PGP email preferred
>
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