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Von Hef writes:
> 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.
Ooo, it's friday and you're making my feeble brain hurt. ;-)
I'll have to look in the .800 book, but what *I* meant is that the low swing
value has to be the lowest low of the previous *and* the next 7 days. Similar
with the high swing. This is a lot easier to explain on a whiteboard. =) The
.800 video goes over it in some amount of detail, complete with diagrams,
which seems to be easier for me to fathom.
In essense, you know you're either looking for a high or a low, since you know
what the 'last' value was; you never plot two highs in a row or two lows in a
row.
Say you're looking for a high. When you get a new 7 day high, that's it,
unless you get ANOTHER higher high within 7 days, in which case THAT'S it,
unless yet another comes along within 7 days, ad nauseum. Reverse it for low.
The problem being of course that you _cannot_ know if you have your high
unless you have 7 days of lower highs; so you have to wait and see.
But, as you say, it doesn't matter much, because the latest one is not what
you care about; it's 6, 5, and 3. (Sorry about botching up the formula.)
I'm using "7 days" as an example here; any number of days will do.
> 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.
Ummmm, close. I think we both know what you mean, but it's not what you said.
It's not the "...sum of this calculation...", but rather just the calculation
itself, since it IS a sum. The "sum()" formula exists in MS, and has a
meaning which is NOT what you mean here, I think. (yes? no?)
> 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,
I haven't really thought about it much, but I'll give it some thought. The
problem is ... where does MS start? How does it know to start looking for a
high swing or a low swing when it has no "previous" one to begin with?
Incidentally, there _is_ a software package which will plot this indicator.
It's the "Navwin" software, by Genesis financial data services, which reads, I
think, only CSI data. Their professional version allegedly does ASCII, MS, &
CSI. They provide COT data as well.
http://www.gfds.com/webpage/products/products.htm
========================================================================
I think a good way to get into a movie is to show up where they're
making the movie, then stick a big cactus plant onto your buttocks and
start yowling and running around. Everyone would think it was funny,
and the head movie guy would say, "Hey, let's put him in the movie."
http://www.unixgeek.com/cgi-bin/motd.pl - PGP email preferred
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