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I don't know the formula algorhytm but W.D. GANN's excellent techniques gives swing objectives, one of which is "squaring the range". there are more but needs extra explanations so i will not bore u.
Gann himself was a legendary trader( because of his "%100 time & price accurate" forecast in 1929, 1 year advance etc.), and wrote lots of books about the stocks and commodity markets. I suggest u read some of his coded courses. U will trade differently. I have to warn u in about the complexity. And nobody could decode the methods/secrets. So the methods are seem very complex but gives %100 accurate results, which are achieved only by W.D.Gann himself. He made $250.000.000 in trading with todays currency.
That's enough for introduction
Now the method:
in a trend (up or down)
take the difference between top and bottom,
Add it to the top -uptrend-,
subtract it from the bottom -downtrend-
ex:
stock is in uptrend and reached to $50, then after some time retraced to $35. Diff between top&bottom is 15$.
Add 15$ to 50$ (top) gives 65$. This is a swing objective. Study this method on charts. U will see the accuracy.
BUT! this method (solely) DOES NOT say the prices will advance to $65. It just says that "when prices reach $65, it will meet Strong Resistance".
PS: u can use %50 of the range also.
If anybody writes down a metastock formula about this, i will appreciate.(Thx in advance)
Equilibria.
----- Original Message ----
From: chris butler <timbuktu66@xxxxxxxxx>
To: equismetastock@xxxxxxxxxxxxxxx
Sent: Wednesday, January 24, 2007 9:07:39 PM
Subject: [EquisMetaStock Group] finding tops and bottoms without zig-zag
does anyone know how to go about finding swing tops
and bottoms of price and an indicator without zig-zag?
here's what i'm trying to do:
find the low in price between the points of crossing
down and up of two moving averages. that, in and of
itself is not difficult. but finding that most recent
low, defined by crossovers and the *previous* low from
the crossovers is the problem.
in addition, i want to use the same moving average
crossovers to give the values of the two most recent
lows in a stoch(5,3).
i hope to do the same for highs as i'm doing for lows.
in other words i'm looking for divergence where the
periods in which to select highs and lows is defined
by moving average crossovers.
any help would be greatly appreciated.
"The gods, too, are fond of a joke." - Aristotle, 582 B.C.
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