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Dusant,
I think your criticism of the zigzag indicator is too harsh. Initially, I
also had problems with it as its a tricky indicator to understand but after
months of use and research, I have finally figured it out how to use it
correctly. I am not prepared to reveal my code but suffice it to say that
the info in Metastock's help is grossly inadequate. I use explorations based
on the ZZ every day and the signal is triggered the very same day, NOT
"after-the-fact". Of course, as with any trade, some are profitable and some
are not. This, of course, is not the fault of the indicator - it just did
its job; what happens next and how you manage the trade are beyond the
indicator's control!
I use the ZZ, as an example, to identify DoubleTops (over a short time
frame) and use various %ages. e.g. On 8/8/03, the 4%ZZ indicated a
short-term Double-Top in Intel (symbol INTC) when it traded and closed below
the Trough low of 23.73 (made on 7/25/03) and the prior swing closing low of
23.97 (made on 7/24/03). [Note: No recommendation is being made to Buy or
Sell; what you do with this information is up to you. I am not responsible
for your trading losses, if any.]
If you so wish, over the next couple days I will post some more DoubleTops
the same day as they occur (I run my explorations EOD) so you can satisfy
yourself that ZZ can indeed trigger events the same day as they happen, not
after-the-fact.
==========================================================
From: "Dusant" <cooldush@xxxxxxxxxxx>
Reply-To: equismetastock@xxxxxxxxxxxxxxx
To: equismetastock@xxxxxxxxxxxxxxx
Subject: [EquisMetaStock Group] Re: On Power Pivots plug in
Date: Wed, 13 Aug 2003 13:38:17 -0000
JM,
This point I have made several times in my earlier posts too. Any
system, expert, exploration should be tested by adding the data DAY by
DAY, to check the efficacy of the math.
It is very easy to create a perfect holy grail Expert system using the
zig indicator, which will show up on the charts AFTER the FACT.
Which makes it practically useless.
It is not my intention to gloat, only to reiterate the fact all
systems should be tested date by date, to familiarise ourself with the
technical position, which we want to be displayed on the chart after
applying the expert.
After all, even using a time tested system of the MACD combined with
stochastics takes getting used to.
Profitable trading.
Dusant
--- In equismetastock@xxxxxxxxxxxxxxx, juan_malaostia <no_reply@xxxx>
wrote:
> I have been experiencing with some systems and experts included
> in the Power Pivots plugin, through the demo version in MS 8.0. I am
> interested particularly in the "Contrarian". However, I find two
> main problems befote considering to buy such an expensive tool.
> First, the signals of the system don't always correspond with the
> ones showed by the Expert. Usually they do, but with exceptions.
> Second, the signal only appears in the expert 4 or 5 days
> delayed, something you only realize by adding data one by one. This
> is probably due to be a demo version, but I'd like to be sure about
> it ...
> Any insight about those questions ?
> Thanks in advance.
> JM
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