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<DIV>I've had a couple of emails regarding pivot identification rules 4a and 4b
- here are visual examples where strength is specified as 2 bars either side of
pivot:</DIV>
<DIV> </DIV>
<DIV>4a (TrueHigh)</DIV>
<DIV> </DIV>
<DIV><FONT face="Courier New"><FONT size=2>x</FONT></FONT><FONT
size=2></FONT></DIV>
<DIV><FONT face="Courier New"><FONT size=2>x</FONT></FONT><FONT
size=2></FONT></DIV>
<DIV><FONT face="Courier New"><FONT size=2>
x <invalid pivot bar 5: TrueHigh gap
1-2</FONT></FONT><FONT size=2></FONT></DIV>
<DIV><FONT face="Courier New"><FONT size=2> x x
x</FONT></FONT><FONT size=2></FONT></DIV>
<DIV><FONT face="Courier New"><FONT size=2> x x x
x</FONT></FONT><FONT size=2></FONT></DIV>
<DIV><FONT face="Courier New"><FONT size=2>
x x</FONT></FONT><FONT
size=2></FONT></DIV>
<DIV><FONT face="Courier New"><FONT size=2></FONT></FONT><FONT
size=2></FONT> </DIV>
<DIV>4b (flat)</DIV>
<DIV> </DIV>
<DIV>
<DIV><FONT face="Courier New"><FONT size=2> x x x
x <valid pivot bar 4, validated bar at 8</FONT></FONT><FONT
size=2></FONT></DIV>
<DIV><FONT face="Courier New"><FONT size=2> x x x x x
x</FONT></FONT><FONT size=2></FONT></DIV>
<DIV><FONT face="Courier New"><FONT size=2>x x x x x
x</FONT></FONT><FONT size=2></FONT></DIV>
<DIV><FONT face="Courier New"><FONT
size=2>x x</FONT></FONT><FONT
size=2></FONT></DIV></DIV>
<DIV> </DIV>
<DIV>Earl</DIV>
<DIV> </DIV>
<DIV> </DIV>
<DIV>>>Date: Tue, 21 Jul 1998 06:35:29 -0600<BR>>>Reply-To: <A
href="mailto:eadamy@xxxxxxxxxx";>eadamy@xxxxxxxxxx</A><BR>>>From:
"Earl Adamy" <<A
href="mailto:eadamy@xxxxxxxxxx";>eadamy@xxxxxxxxxx</A>><BR>>>To:
RealTraders Discussion Group <<A
href="mailto:realtraders@xxxxxxxxxxxxxx";>realtraders@xxxxxxxxxxxxxx</A>><BR>>>Subject:
Re: Identifying Pivots (wad Dow Theory Applied)<BR>>><BR>>>Some
quick thoughts on pivot definition:<BR>>><BR>>>1) Pivots should be
identified according to strength which is the <BR>>number of
bars<BR>>>on either side of the pivot point which are less extreme than
the pivot <BR>>e.g.<BR>>>strength of 2 means that two bars on
either side of the pivot are less <BR>>extreme<BR>>>than the pivot
(exception for flats - see below). The greater the <BR>>strength of
a<BR>>>pivot, the more important it is.<BR>>><BR>>>2) A higher
compression e.g. weekly vs daily can be used in lieu of
<BR>>greater<BR>>>strength to identify more important
pivots.<BR>>><BR>>>3) Use of averages and other filters will
inevitably lead to <BR>>misidentification<BR>>>of some
pivots.<BR>>><BR>>>4) Virtually all pivot identification routines
appear to be designed by<BR>>>programmers rather than traders and therefor
fail to properly identify<BR>>>conditions which are critically important
to proper pivot <BR>>identification:<BR>>><BR>>>a) The bar to the
immediate left of the leftmost bar checked for <BR>>strength
must<BR>>>be checked for True High or True Low i.e. most pivot routines do
not <BR>>check for<BR>>>gap conditions at the far left which would
nullify a pivot.<BR>>><BR>>>b) Bars to the right of a pivot may be
flat (equal to the pivot <BR>>extreme) except<BR>>>that the rightmost
bar in a pivot must be less extreme than the pivot.
<BR>>Most<BR>>>pivot routines fail to identify flats. Further, when a
flat occurs in <BR>>dynamic<BR>>>updating with the rightmost bar equal
to the preceding bars, the <BR>>routine needs<BR>>>to remember this
fact and, when the next bar arrives, check to see if <BR>>the
new<BR>>>bar is less extreme thereby validating the pivot some bars
further back <BR>>than
the<BR>>>"strength".</DIV></BODY></HTML>
</x-html>From ???@??? Tue Jul 21 15:09:32 1998
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Date: Tue, 21 Jul 1998 17:53:06 +0100
Reply-To: mullin@xxxxxxxx
Sender: owner-realtraders@xxxxxxxxxxxxxx
From: Chris Mullin <mullin@xxxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Subject: Re: Dynamic trader for sale problem
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Even if this is true they must have some kind of provision available to
allow people to upgrade their machines. If it uses a hardware lock you
would need to have that included in the sale along with the software.
Recently I purchased the registration for an older version of MetaStock
from someone that has stopped trading. He arranged with MS to transfer his
ownership/registration to my name. This made me the legally registered
owner. I was then eligible for the latest version of MS at the upgrade
price. Bottom line - I have the latest software, guaranteed to work on my
machine, and saved a few bucks.
I did clear this with the company first before I executed the 'trade'. It
may be worth checking into this with the DT folks.
Good luck
Chris
At 01:58 PM 7/21/98 -0700, Renate Muldowney wrote:
>
>RT ers
>Called the folks at dynamic trader and they claim that if you
>purchase it from someone it may not work on your computer because of
>something that
>they do.
>
>Someone is selling a used version for $1100
>
>Does anyone have any knowledge of this?
>
>RM
>
>
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