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Pivot Price Indicator
{The calculation for the new day are calculated from the High (H), low (L)
and close (C) of the previous day. }
{P = Pivot Price}
(H + L + C)/3;
{R1 = 1st Resistance}
(2*((H + L + C)/3))-L;
{S1 = 1st Support}
(2*((H + L + C)/3))-H;
{R2 = 2nd Resistance }
(((H + L + C)/3)-((2*((H + L + C)/3))-H))+((2*((H + L + C)/3))-L);
{S2 = 2nd Support}
((H + L + C)/3)-(((2*((H + L + C)/3))-L)-((2*((H + L + C)/3))-H))
Good luck
no guarantees
Make your own decisions
Lonnie Lepp
tllepp@xxxxxx
===============================================================
-----Original Message-----
From: owner-metastock@xxxxxxxxxxxxx
[mailto:owner-metastock@xxxxxxxxxxxxx]On Behalf Of Bob Webb
Sent: Friday, January 26, 2001 2:47 PM
To: metastock@xxxxxxxxxxxxx
Subject: Re: Programming Bill Williams fractals
John,
(1) Your suggestion about modifying a swing-trading indicator sounds
interesting, but no one has posted yet.
(2) I'd be interested in you suggestion about Pivot Points, but MS does not
have this in its formula language (or am I missing something?).
Bob.
At 03:16 AM 25/01/01 -0600, you wrote:
>Bob (and Ed),
>
>While I've not tried to progran the Williams's fractals, they seem to be
>little
>more than 5 period Pivot point highs (Up Fractal) and Pivot lows (Down
>Fractal) as defined in his book, "Trading Chaos". But the coding wouldn't
>be trivial as the rules state that Inside Bars are ignored in the count,
and
>that fractals close together can share bars in their counts. So neither
>code
>segment submitted earlier today follow William's definition as defined in
>his book.
>
>Also, while some of the indicators and the Expert are provided in my ver.
>7.0 of Metastock, the fractal indicator is not.
>
>Here are Williams's rules for finding a fractal (pgs 135-139):
>
>1. The fractal pattern consists of a minimum of 5 consecutive bars.
>2. Inside bars are ignored so the total consecutive bar count might be
> greater than 5
>3. The middle of the 5 bars must have a higher high (or lower low) than
> the 2 preceeding and 2 following bars.
>4. If a bar that is not the middle bar has the same high (or low) as the
> middle bar it is not counted as one of the 5 bars that constitute the
> pattern.
>5. Two adjacent fractal bars may share bars to make their pattern. This
> is seen to occur when immediately after the new higher high middle
bar,
> there is an openning gap down (up). Prices then move up (or down) in
> the previous direction prior to the gap.
>
>The whole point to finding the fractal is to determine a good entry point.
>Per Williams, that point would be to go long, prices have to take out the
>prior high (or low) if going long (or short).
>
>As I see the fractal definitions Williams has documented, he is merely
>using different lanuage to describe swing trading -- at least as I
>understand
>swing trading.
>
>If anyone out there has a swing trading indicator they would like to post,
>the Williams fractal indicator could probably be easily modified to from
it.
>
>Hope this helps! ................... John
>
>----- Original Message -----
>From: "Ed Sperber" <els@xxxxxxxxxxxxxxxxxx>
>To: <metastock@xxxxxxxxxxxxx>
>Sent: Wednesday, January 24, 2001 8:56 PM
>Subject: Re: Programming Bill Williams fractals
>
>
> > What version of MetaStock do you have? I believe these indicators and
the
> > alligator, AO, etc are in the MS package as of 7 (they still need to be
> > installed). You may also get help at Williams' web site,
profitunity.com.
> >
> > Ed
> >
> > ----- Original Message -----
> > From: "Bob Webb" <Webb.Bob@xxxxxxxx>
> > To: <metastock@xxxxxxxxxxxxx>
> > Sent: Wednesday, January 24, 2001 4:36 PM
> > Subject: Programming Bill Williams fractals
> >
> >
> > > I heard nothing from my earlier request...
> > >
> > > Has anyone attempted programming Bill Williams' fractals: that is,
> > > indicating when a particular day's high is higher than the two days
>before
> > > and after it (and the same on the downside: when a day's low is lower
>than
> > > the two days before and after it).
> > >
> > > I'd appreciate help with programming this if someone has done it.
> > >
> > > Thanks.
> > >
> > > Bob.
> > >
> > >
> > > ==============+==============
> > > Robert L. Webb
> > > Webb.Bob@xxxxxxxx
> > > ===============+=============
> > >
> > >
> >
==============+==============
Robert L. Webb
Webb.Bob@xxxxxxxx
===============+=============
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