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John,
The point I was trying to make was not that ZZ is a faulty indicator.
The point was, a "perfect" system CAN be made using the ZZ, when the
buy/sell criterion will show up on an expert, after the fact.
I appreciate your using ZZ to explore for tops or bottoms, as long as
you keep a tight % range, and can be confirmed with other technical
tools, like divergences.
And when JM asked about testing an expert, I only suggested that a
certain portion of the data can be deleted, and then tested for the
efficacy of the math.
If not for anything else, to satisfy YOURSELF about the comfort zones
of using the indicator/expert/system.
Spyros has used ZZ in a system, where he has FIXED and pinpointed the
% change of ZZ to identify turning points.
It makes no sense when a signal is generated on a certain date which
disappears later. Or, a signal which is NOT generated on a particular
date, which appears after three or four trading sessions.
That was the only point which I was trying to make.
In all humility, I hope others also take this point.
Best to all in trading.
Dusant
--- In equismetastock@xxxxxxxxxxxxxxx, "John Doe" <ms001122@xxxx>
wrote:
> 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@xxxx>
> 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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