Re: [EquisMetaStock Group] Problem with what I wrote

["Roy Larsen" <rlarsen@xxxxxxxxxxxxxx>]

Jack

I don't think using ZigZag is a good idea. Even if you get code that appears
to do just what you want the dynamic nature of ZZ makes it virtually useless
IMO.

I feel that using rock solid code like that below to track prices moving
favourably is a better way to go. I haven't cracked how to signal moves
across new 1% boundaries yet, but once the entry price is locked in it's
just a technicality. The solution won't be too far away.

  {Long Trade Move}
N:=If(Fml("PS Fractal Entry")>0,C,0);
X:=If(Fml("PS Fractal Exit")>0,C,0);
Tl:=If(PREV<=0,N,If(C>PREV,Max(C,PREV),If(X>0,0,PREV)));
El:=Valuewhen(1,Tl>0 and Alert(Tl=0,2),Tl);
Tl; El;
  {Short Trade Move}
Ts:=If(PREV=0,X,If(C<PREV,Min(C,PREV),If(N>0,0,PREV)));
Es:=Valuewhen(1,Ts>0 and Alert(Ts=0,2),Ts);
Ts; Es;

Roy

> The problem with what I wrote is it doesn't produce an exact
> crossover at the grid lines. In other words it passes across a grid
> line without ever having an exact value of 1.0, for example. The
> reason is the time frame. If it's a five minute chart the next bar on
> a five minute chart is five minutes away which means the indicator
> value jumps from where it was at bar1 to where it is at bar2, five
> minutes apart. It makes it tough to find a formula that captures the
> right values.
>
> For whatever reason the indicator does not work on a 1 minute chart,
> so that's not an option. It works good on 10 min and 15 min charts.
>
> What do you think!
>
> Jack
>
>
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