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Right now, I still don't think there is any reason for concern or need to jump to any conclusions. If this were the typical zig zag function, I would agree that there is good reason to doubt the validity of signals because of the dynamic leg of the zz. If I had seen that in the formulas, I would have said so.
If I had a question on zig zag formulas, I would talk to Spyros Raftopoulos, who probably knows more about the zig zag than anyone in TA. Spyros used to be a member of this group, but I believe he switched to Tradestation a few years ago for the flexible programming.
However, this isn't the typical application of a zig zag. In these formulas a Mesa Sine Wave, which is very slow moving and smooth cycle line, is being used with a zig function to count peaks to create a cycle count.
Roy has studied the new dynamic indicators in quite a bit of detail. We discussed the zig function as it's used in the formulas. To be thorough, he is going to take another look at it, and should have the issue completely defined in a day or so.
The guys at Equis aren't morons. I know the people who wrote these formulas, and they are very aware of the zig zag's dynamic issues. I was disappointed that they felt they needed so many prev functions, but that's another issue. They have published one or two formulas in the past with errors in them, but when the errors were pointed out, they corrected the formulas.
I agree that most of the upgrades don't provide much in the way of new stuff. That has been a problem since Reuters bought Equis. The value of any upgrade is in the mind of the beholder.
Let's see what Roy comes up with.
Super
--- In equismetastock@xxxxxxxxxxxxxxx, "mr. bryan mccormick" <deepfoobar@xxx> wrote:
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> Wow. Well if this is true, I am not sure what use they could be. A zig-zag is a backward looking indicator. As many people have written in the past, not the least of them Jose Silva, systems based on zig-zag will give nonsense results because of this backwards look. I am not sure if Jose is still active. Perhaps I have this wrong. He would be the correct person to comment.
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> --- On Tue, 11/24/09, joo seng <jooseng6@xxx> wrote:
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> From: joo seng <jooseng6@xxx>
> Subject: Re: [EquisMetaStock Group] Re: MS 11 Pro with ZIGZAG in indicators
> To: equismetastock@xxxxxxxxxxxxxxx
> Date: Tuesday, November 24, 2009, 1:00 PM
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> All "MS11-Adaptive xxx" indicators using Cycle method are based on zig zag.
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> --- On Wed, 25/11/09, superfragalist <no_reply@xxxxxxxxxx s.com> wrote:
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> From: superfragalist <no_reply@xxxxxxxxxx s.com>
> Subject: [EquisMetaStock Group] Re: MS 11 Pro with ZIGZAG in indicators
> To: equismetastock@ yahoogroups. com
> Date: Wednesday, 25 November, 2009, 1:19 AM
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> I've looked at the formula's for most of the indicators and I don't recall any of them being based on zig zag formulas. Maybe I missed one.
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> They have prev statements in them which slow them down to the point where they have limited use, especially on intraday charts, but that's about it.
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> How an adaptive indicator performs is based on what it is adapting too? Volatility, moving averages, money flow, etc. There are many ways to program adaptive indicators.
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> Super
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> --- In equismetastock@ yahoogroups. com, "thomas12ng" <thomas12ng@ ...> wrote:
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> > Hi,
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> > I am surprise that the recent development in metastock 11 is somewhat twisted.
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> > After reviewing the indicator builder components (where all names start with MS11 ; they must contain ZIGZAG parameter as their proprietary arrangement. ) I feel sad about this set back. Mainly with the indicator quality. I have monitored a few hypothetical porfolio which system build based on these compenent vs. my own indicator from a reliable "adaptive" indicator. The result is totally very very bad.
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> > I truly have no idea who was the genius author behind these repaint indicator.
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> > Just a quick suggestion: to those who try to develop system as based on MS11 custom indicator just abandon it!!!
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> New Email names for you!
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> Get the Email name you've always wanted on the new @ymail and @rocketmail.
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> Hurry before someone else does!
>
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