|
PureBytes Links
Trading Reference Links
|
Having done most of my work using pivots (aka Swing Points) for many years, and
done a great deal of such programming, I am dubious about any system which uses
"obvious" swing points. The selection of "swing points" tends to be very
subjective unless selected mechanically according to a very specific rule set.
The interesting part of mechanizing swing point selection is that what appears
to be intuitively simple, is not at all simple and what the eyes/brain consider
obvious, fail when subjected to simple rules. If you don't believe it, tell a
computer (e.g. SC/TS) to select all swing points which have a fixed number of
bars on either side e.g. 5 bars and you'll suddenly find all kinds of "extra"
pivots. Further, I find it interesting that many software developers (e.g. Omega
Research) can't even get pivot identification correct. I'm not suggesting that
swing points can not be properly identified using a fixed rule set, however it
is neither easy nor obvious.
Earl
-----Original Message-----
From: Renate Muldowney <mailbox@xxxxxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Date: Wednesday, July 29, 1998 11:03 AM
Subject: Re: What is a Schiff ML?
>The three points are three obvious swing points.
|