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Vin,
> Although I can visually see that the prices have reversed the
> previous trend just 5 bars ago with the price change being 5% from
> the last visible peak/trough, yet I am not able to program it for
> want of proper logic.
Have you seen the "SR Zigzag Trend" indicator? If not, go to the
Files section, download and read the "SR Zigzag related indicators"
document. The most suitable tool for identifying important peaks and
troughs is the zigzag indicator. Since SR ZZT now confirms the trends
(and thus the corresponding swing points) shown by the zigzag, I
think you have everything you need not only for visual identification
but also for programming purposes. If you want to use all these in
Excel, just drag all the indicators to your worksheet.
If you have any questions I will be glad to help.
Spyros
--- In equismetastock@xxxx, "vinst1" <vinst1@xxxx> wrote:
> I am trying to identify peaks/troughs according to 2 criteria.
> 1. Take a fixed bar lookback period (e.g. 21 bars). What should be
> the lookforward period?
> 2. Take a fixed %age change in close price value
>
> With both methods, I am finding it difficult to see what is
> happening 'at the right edge' of the price plot as either the
> lookback period has not been completed or the fixed %age change in
> closing prices has not been reached.
> Although I can visually see that the prices have reversed the
> previous trend just 5 bars ago with the price change being 5% from
> the last visible peak/trough, yet I am not able to program it for
> want of proper logic.
> with the first option, I would also need a look forward period to
> confirm the reversal because in some situations prices may be
> continuing their strong trends throughout the lookback period.
> What could be the way out? I use excel to plot the data.
> Is it better to use 'pivots' as identified by formations like
>
> * *
> * * or * *
> * * * *
> * *
> 7-bars 5-bars
>
> Is a 7-bar pivot like
>
> *
> * * * acceptable compared to what is shown above?
> * *
> *
>
> Your valuable suggestions are most welcome.
> Thanks
> vin
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