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klpdmozo wrote:
> Thomas, in the September Issue of TASC 1998 was a letter in "Letters to S&C"
> about the Gann Swing Technique. The letter was written by Dmitry Khoteenkov
> in Moscow, Russia. I wanted to sent a letter or an e-mail to Khoteenkov
> about the Gann Swing Technique, because he explained in that letter that he
> was making a computorised system for the Gann system. I don't know if he's
> working with M.S. I asked his address but TASC didn't answer yet. I don't
> have the TASC issue jan 99 yet. Some delay by X-mas. Is the article you talk
> about the same article written in the Tasc febr 98 issue ?
No, it is the follow up of his previous article trying to find trading
opportunities. The basic definitions of Gann swings, trends, supp/resist as
described in his previous article are repeated briefly. I like his approach
because it provides a solid concept for channel breakouts.
Yesterday I ordered a trial version of the fibonaccitrader to play around with
some indexes/stocks and to get an idea how to create indicators in metastock.
> Making a hi-lo
> activator is no problem but making the entry and exit rules is very
> difficult (for me).
Hi-Lo activator should be quite simple. The only problem is that you can't
change the color of an indicator over the time like TS 4.0 can. The real
challenge is to identifiy/plot the swings.
> In an earlier mail to the list with the same question
> (Fibonacci Trader in Metastock) there where no answers. To difficult ?? I
> don't know. Lets try it again !
Yes, why not. It would give us the chance to backtest. You can rely on the
'fibonaccitrader' and Robert Krausz when he states that his technique was
succesfull the last xx years. I don't have the time to backtest manually.
divenfish@xxxxxxxxxxxxx wrote:
> About a month or so ago I wrote a test that will buy if price retraces to
> "n" Fib level. I seem to recall that I set it up so that it would only
> buy if the current peak is greater than the previous peak and then a Fib
> retracement occurs. I haven't read the article but I did look at some of
> the pictures, if that counts. :-) The pictures got me interested and I
> remember thinking that my test would probably form a good basis to work
> from whenever I got around to it. But that day is still a month or two
> off most likely. I'll be glad to share what I have, especially if it will
> help speed things up for those interested. Just remember me when you make
> progress with the thing. :-) In my notes that I just checked I wrote
> "correct", which means, well, at least at that time I believed that I got
> it right, ie, it did what I wanted it to do, which was simply place a buy
> arrow if the low was <= the Fib level. Correct does not mean "finished
> product", so I'm sure the code could be tightened up, etc. I also
> remember that I did not check it out quite as thoroughly as I normally
> would because I needed to move on to something else, so it's possible
> there could be a glitch or two. SO, after the markets close I'll check it
> out briefly to see if it is as I remember. Maybe I was dreaming. I would
> do it now but it uses the PREV function a couple of times and with my
> little 133 AND collecting rt data, something is bound to give.
>
> Regards,
> Ken
Thank you Ken, for sharing your work. I will look into your Indicators and
System tests. If I understood your idea correctly, you a buying dips. That is
not the approach of Krausz. In addition to that I would like to say that these
'short term' or 'minor' Retracements are very dangerous to buy, because the do
not hold. IMHO retracements with time scales of >1-2 months represent good
buying/selling signals on the 50 and 61.8 level (golden ratio).
Let me try to explain Kausz' idea:
Kraus identifies up/down Swings by two consecutive 'higher highs'/'lower lows'
after a Low/High. These swings are plotted in the chart. He labels e.g. the
first High A, next Low B, next High C. A and C define the upper channel band and
B (parallel to A-C) the lower. Buying opportunities occur when the prices of the
'own' time scale close above the HiLo Activator, breakout the channel and close
above C.
In Metastock the ZigZag Indicator would be the appropriate one programming
plotting swings.
But the function parameter do not fit. Problems:
- DATA ARRAY can take only O,H,L OR C. We need to plot from High to Low.
- A minimum change in $ or % is not a suitable condition. We would need a free
programmable condition
Hope this helps a little bit.
Best Regards
Thomas
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