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Preston, or any one else
Thanks for your kind help but what you are trying to tell me is that
a ZZ has not 100% validity. I know that allready for many years (I
use metastock allready 8 years for every day).
I know that Spyrous knew this also. So he did everything to overcome
this problem. Like the SR ZZT is 100% validity. I know this because I
use this indicator also for many years.
But my question is:..."the zLastSwingPoint % has no 100%
validity...is there someone who know about a this formula and
adjustmenst made to this formula so it would have a 100% validity.
Or an indiactor who does the following:If you have for exapmle an SR
ZZT 5%. It gives only a +1 and -1. So
what happens? If the price start to drop from a peak the SR ZZT shows
+1 only when the price fals lower then 5% from that high the SR ZZT
will go from +1 to -1. after the SR ZZT whent to -1 the price has to
go a full 5% up again before the SR ZZT 5 will go from -1 to +1.
Is it possible to have like a stage in between. Exapmle:
The price is at a peak and shows +1...the price start to fall more
then 5% (lets say 5.5%) from that peak, the indicator would go to -1.
If the price goes up again with 1% after it fell true the -5% level (
so only 4.5% from that peak) the indicator goes to 0. Only when the
price falls under the 5% from that peak it would show -1 again. As
long as the price stays lower then 5% from that peak the indicator
shows -1.
So if price would climbe again between the -5% and the peak the
indicator jumps to 0 again.
If price fell in total 7% from that peak and price goes up again
after 2% climbing the indicator goes from -1 to 0 again and after an
other 3% climbing the indicator goes from 0 to +1 because price went
up with 5% from the trough. If price falls again with 1% so in
between the trough and the +5% level the indicator goes to 0 again.
Spyrou did allready a great job with making this SR ZZT indicator but
between a peak and a trough of 5 % you don't know whats happening.
After the price went lower then 5% from a peak if it goes up again
with 4.9% or goes a big portion lower then 5% the indicator will stay
the same at -1. Working with severall SR ZZT to show whats happening
is not a good thing because it becomes to big and can't be tested any
more to see the ideal % ....
Is there any one who has a solution for this problem.
The zLastSwingPoint % shows visualy the level of 5% and shows the
price eatch time going true this level but again the indicator gives
signals in the past that whure not there on that moment so can't be
trustted.".....
Many thanks in advance...igor
--- In equismetastock@xxxxxxxxxxxxxxx, pumrysh <no_reply@xxxx> wrote:
>
> Igor,
>
> You need to read the ZZ Validity pdf in the files section. The
> percentage used in the zLastSwingPoint% indicator has a limit of
> reliability, it is not 100%.
>
> BTW: There are 3 files on the ZZT in our files section. You can
also
> research ALL (equismetastock and metastock users) the previous
> discussions on the topic by doing an archive search at the
following
> address:
> http://www.purebytes.com/cgi-local/swish/swish-cgi.pl
>
> Preston
>
>
> --- In equismetastock@xxxxxxxxxxxxxxx, "thefuturemaster"
> <thefuturemaster@xxxx> wrote:
> >
> > Preston,
> >
> > The indicators that Spyrous build whure specaly to overcome this
> > problem of hindsight. If you know about the SR ZZT indicator then
> you
> > would know that it uses Zig-Zag but it will only give a signal
> when
> > the situation is 100% confirmed. I think that he had the same in
> mind
> > for the zLastSwingPoint % indicator but now and then if gives a
> > signal with hindsight...again the reason why is strange because
> there
> > is no logic if I analyse the situation....so again is there
someone
> > who knows or who can solve the problem please...
> >
> > TNX in advance...
> >
> > igor
> >
> >
> > --- In equismetastock@xxxxxxxxxxxxxxx, pumrysh <no_reply@xxxx>
> wrote:
> > >
> > > igor,
> > >
> > > Using zig, peak or trough this is not a solvable problem. These
> are
> > > dynamic indicators...meaning their values will change based on
> the
> > > data...they are hindsight indicators. I believe Spyrous did
have
> a
> > > solution but it did not use the indicators mentioned above.
> > >
> > > Preston
> > >
> > >
> > > --- In equismetastock@xxxxxxxxxxxxxxx, "thefuturemaster"
> > > <thefuturemaster@xxxx> wrote:
> > > >
> > > > Hy,
> > > >
> > > > I tryed to make a trading system with the help of the
> > > zLastSwingPoint
> > > > % indicator made by Spyrous.
> > > >
> > > > I know from the past (several years ago) that Spyrous wanted
to
> > > make
> > > > indicators based on Zig-Zag indicator but that would hold a
> given
> > > > signal and not take away after a while or would not place
> signals
> > > in
> > > > the past wich at first whure not there.
> > > >
> > > > The indicator zLastSwingPoint % DO place signals in the past
> wich
> > > at
> > > > first whure not there. When I examen the situation there is
not
> > > logic
> > > > at all...I work for the european BUND on a 60min chart.
During
> > the
> > > > afternoon of the 6 dec 2005 price went up to about 121.00 On
> that
> > > > moment a signal apeared on the the 1st Dec 2005 at 11:00 CET
> > > 120.46).
> > > > When I cut off the data of the 6the dec the signal given on
the
> > > first
> > > > disapears. Strange enough there was plenty off data between
the
> > 1st
> > > > and the 6th there that was higher then the point where the
> signal
> > > > apears on the 1st Dec at 11:00 cet.
> > > >
> > > > Is there someone who knows about this problem ?...Did Spyrous
> > solve
> > > > this problem ? I know that the indicator SR ZZT gives real
> > > confirmed
> > > > signals and does not have the problem that I discribed above
> but
> > I
> > > > would need the zLastSwingPoint % or something similar because
I
> > > need
> > > > the graphic movement of what the zLastSwingPoint % does and
not
> > > > something wich only shows something binair like +1 or -1
> > > >
> > > > TNX in advance...
> > > >
> > > > PS. Sorry for my enlish writing.
> > > >
> > >
> >
>
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