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Thanks
Spyros,
I already have your SR ZZT in mind and have also
stored it. I have tried to duplicate the logic by
using differenet lookback periods like 5, 13 and 21.
It gives me the confirmed leg starting with the
shortest lookback.
My future purpose is this: I want to apply fib.
retracementa/extensions and experience the confluence.
Therefore I did not want to mix up, let us say a 5%
change peak on the right edge with the 20% change
peaks on the whole left part of the price time plot
prior to the latest 5% peak. Till I get a 20% peak,
would it be prudent to draw fib lines (which I would
want to apply on 20% peaks/troughs)?
For this purpose, I had thought of applying the 7-bar
pivots about which also I am not so clear.
Thanks for your information
vin
>
> 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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