Queries From "Teach a Man to..." thread!!

[Saint]

Thanx Satya....would be a great help if you could help with this thread,as you have just done.

Saint

[aad]

Originally Posted by mahesh2007

dear saint,

lot of members including me are often wrong in tracing the right pivot's.

For the want of the aforesaid it shall be a a near impossible to implement your methodology effectively and u shall be always continuously bludgeoned with queries.

what about starting a new thread "tracing the right pivots " with several charts-graduating from crystal clear pivots to obscure and ambiguous pivots.

IMHO, 80% of efforts are required for just tracing the right pivots and the rest 20% are for implementing the methodology.

i hope u shall give a consideration to my earnest request.

regards
Mahesh

ps:If a sr. doctor teaches his juniors to effectively diagnose the symtoms of the ailments then they shall turn out to be good physicians.
.... and shall not be knocking the door of your cabin, saying-" sir,sir! see,whether I have diagnosed the right ailment", or
"why this medication is not working on this disease".

Dear Mahesh,

I do not know which charting software you use but for Amibroker, Karthik had given code (based on Saint's methodology, I think) which you will have to append to your existing code. Assuming their permission, the same is given below.

_SECTION_BEGIN("Pivot Indicator");

Q=Param("% Change",2,1,10,1);
Z= Zig(C,q ) ;
HH=((Z<Ref(Z,-1) AND Ref(Z,-1) > Ref(Z,-2)) AND (Peak(z,q,1 ) >Peak(Z,q,2)));
LH=((Z<Ref(Z,-1) AND Ref(Z,-1) > Ref(Z,-2)) AND (Peak(Z,q,1 ) <Peak(Z,q,2)));
HL=((Z>Ref(Z,-1) AND Ref(Z,-1) < Ref(Z,-2)) AND (Trough(Z,q,1 ) >Trough(Z,q,2)));
LL=((Z>Ref(Z,-1) AND Ref(Z,-1) < Ref(Z,-2)) AND (Trough(Z,q,1 ) <Trough(Z,q,2)));
GraphXSpace = 5;
dist = 0.5*ATR(20);

for( i = 0; i < BarCount; i++ )
{
if( HH[i] ) PlotText( "HH", i, H[ i ]+dist[i], colorGreen );
if( LH[i] ) PlotText( "LH", i, H[ i ]+dist[i], colorRed );
if( HL[i] ) PlotText( "HL", i, L[ i ]-dist[i], colorGreen );
if( LL[i] ) PlotText( "LL", i, L[ i ]-dist[i], colorRed );

}
_SECTION_END();

Please note that here pivots will be marked for price change from 1% to 10% with 2% being default. When used in day trading, you will have to adjust this % change, to correctly identify the pivots. You can easily do so by editing parameters.

Sample snap of pivots detected by this code is attached for reference.

I hope this helps.

Regards,

Abhay

[Saint]

Originally Posted by mahesh2007

dear saint,

lot of members including me are often wrong in tracing the right pivot's.

For the want of the aforesaid it shall be a a near impossible to implement your methodology effectively and u shall be always continuously bludgeoned with queries.

what about starting a new thread "tracing the right pivots " with several charts-graduating from crystal clear pivots to obscure and ambiguous pivots.

IMHO, 80% of efforts are required for just tracing the right pivots and the rest 20% are for implementing the methodology.

i hope u shall give a consideration to my earnest request.

regards
Mahesh

ps:If a sr. doctor teaches his juniors to effectively diagnose the symtoms of the ailments then they shall turn out to be good physicians.
.... and shall not be knocking the door of your cabin, saying-" sir,sir! see,whether I have diagnosed the right ailment", or
"why this medication is not working on this disease".

Wrong,my friend........even in medicine,the same happens......Knowledge is doled out.Some junior doctors grasp it immediately....some work at it,toil at it and get it.........and others complain that they have a bad teacher in that sr doctor.Instead of trying to figure out a pattern in the reason for the sr doctor's differing treatments of seemingly similar patients with similar symptoms.......the 3rd type goes on and on about the total madness and inconsistencies.No pattern at all,they would say.

That 3rd variety needs to work harder.......but it always is easier to say that the sr doctor is a bad one.And then all's well .....

But you are entitled to your world-view..........From my end,I am going to continue posting these ambiguous and obscure pivots.Those who are benefitted,great......Else,move on to something you prefer and can make head or tail of.

Saint

[Saint]

Originally Posted by aad

Dear Mahesh,

I do not know which charting software you use but for Amibroker, Karthik had given code (based on Saint's methodology, I think) which you will have to append to your existing code. Assuming their permission, the same is given below.

_SECTION_BEGIN("Pivot Indicator");

Q=Param("% Change",2,1,10,1);
Z= Zig(C,q ) ;
HH=((Z<Ref(Z,-1) AND Ref(Z,-1) > Ref(Z,-2)) AND (Peak(z,q,1 ) >Peak(Z,q,2)));
LH=((Z<Ref(Z,-1) AND Ref(Z,-1) > Ref(Z,-2)) AND (Peak(Z,q,1 ) <Peak(Z,q,2)));
HL=((Z>Ref(Z,-1) AND Ref(Z,-1) < Ref(Z,-2)) AND (Trough(Z,q,1 ) >Trough(Z,q,2)));
LL=((Z>Ref(Z,-1) AND Ref(Z,-1) < Ref(Z,-2)) AND (Trough(Z,q,1 ) <Trough(Z,q,2)));
GraphXSpace = 5;
dist = 0.5*ATR(20);

for( i = 0; i < BarCount; i++ )
{
if( HH[i] ) PlotText( "HH", i, H[ i ]+dist[i], colorGreen );
if( LH[i] ) PlotText( "LH", i, H[ i ]+dist[i], colorRed );
if( HL[i] ) PlotText( "HL", i, L[ i ]-dist[i], colorGreen );
if( LL[i] ) PlotText( "LL", i, L[ i ]-dist[i], colorRed );

}
_SECTION_END();

Please note that here pivots will be marked for price change from 1% to 10% with 2% being default. When used in day trading, you will have to adjust this % change, to correctly identify the pivots. You can easily do so by editing parameters.

Sample snap of pivots detected by this code is attached for reference.

I hope this helps.

Regards,

Abhay

Ah.....Abhay to the rescue.Mahesh would now be thrilled about the crystal clear pivots.....

Saint

[aad]

Originally Posted by Saint

Ah.....Abhay to the rescue.Mahesh would now be thrilled about the crystal clear pivots.....

Saint

Nope.... its YOU only to the rescue as, I am a tiny mirror trying to reflect whatever I have received from The Sun(s) like YOU and Karthik...

Best regards,

Abhay

[Ank!t007]

Thanks sir for clearing my doubts by posting a chart.
"A picture is worth a thousand words"

-----------------------------------------------------------------------------------
Sir since last few days I'm trying to learn how to play with gaps trading 60 minutes.

Following 60min rules We are short with a stop at 3912.
Now suppose we open gap up tomorrow below 3912.We hold our short position.
If it opens gap up above 3912 then we go long above 5 min bar high with stop at day's low.

In short If gap up or down takes out previous pivot's high/low than we change our position on 1st 5min bars high/low with a stop at high/low of 5 min bar.

Have I understood the gap/visual gap rules ? If not then I'll again study it briefly.
need your approval sir.

Ankit

[pattel]

07/16 trades and my learnings.



carried yesterdays short which is a mistake i did against my plan of not carrying any trades. closed it since it crossed yesterday's PH. went long, SL hit. went short after 30 min confirmation. added few and made little profit, but overall trade is a loss today.



30 min chart appeared to have been in uptrend (5 days) for me. went long 86.30 SL 84.20, stop hit . reversed to short @ 83.60 SL 86.70(days high) + 0.75 = 87.45. added @ 83.30. trailed SL 84.80, 84.30,83.90,82.70, 82.50 with 2 bar or pivot low. finally made a silly mistake of covering my short @ 80.85 for no reason to back up to my plan. chart didn't give any sign of reversal, just my fear ended this trade which could have been a better profitable trade. This was a profitable trade.

My learnings as per my plan.

1. No carry over
2. Don't limit your profit because of fear and emotion just stick to the plan even if SL hit

Overall i'm happy that i get the concept of saints pivot trading method but realize i need to be more disciplined. I was also thinking that a little larger time frame trade might help like a 60 min chart trade. From today i'll try paper trade 60 min trade with carryover on paper if needed.

[lvgandhi]

Originally Posted by aad

Dear Mahesh,

I do not know which charting software you use but for Amibroker, Karthik had given code (based on Saint's methodology, I think) which you will have to append to your existing code. Assuming their permission, the same is given below.

_SECTION_BEGIN("Pivot Indicator");

Q=Param("% Change",2,1,10,1);
Z= Zig(C,q ) ;
HH=((Z<Ref(Z,-1) AND Ref(Z,-1) > Ref(Z,-2)) AND (Peak(z,q,1 ) >Peak(Z,q,2)));
LH=((Z<Ref(Z,-1) AND Ref(Z,-1) > Ref(Z,-2)) AND (Peak(Z,q,1 ) <Peak(Z,q,2)));
HL=((Z>Ref(Z,-1) AND Ref(Z,-1) < Ref(Z,-2)) AND (Trough(Z,q,1 ) >Trough(Z,q,2)));
LL=((Z>Ref(Z,-1) AND Ref(Z,-1) < Ref(Z,-2)) AND (Trough(Z,q,1 ) <Trough(Z,q,2)));
GraphXSpace = 5;
dist = 0.5*ATR(20);

for( i = 0; i < BarCount; i++ )
{
if( HH[i] ) PlotText( "HH", i, H[ i ]+dist[i], colorGreen );
if( LH[i] ) PlotText( "LH", i, H[ i ]+dist[i], colorRed );
if( HL[i] ) PlotText( "HL", i, L[ i ]-dist[i], colorGreen );
if( LL[i] ) PlotText( "LL", i, L[ i ]-dist[i], colorRed );

}
_SECTION_END();

Please note that here pivots will be marked for price change from 1% to 10% with 2% being default. When used in day trading, you will have to adjust this % change, to correctly identify the pivots. You can easily do so by editing parameters.

Sample snap of pivots detected by this code is attached for reference.

I hope this helps.

Regards,

Abhay

Is this code available for metastock as metastock expert advisor? If so kindly post or link please.

[charankpm]

gandhi here is the attachment for metastock by karthick it is working excellent but one small problem since it is working based on zig-zag the pivot labeling is getting changed quite often if it is corrected to have the previous label intact even though the new pivot is formed nothing like this to follow saints method (pl help saint,oxy,asish,cv....)

charan

[mahesh2007]

Originally Posted by Saint

Wrong,my friend........even in medicine,the same happens......Knowledge is doled out.Some junior doctors grasp it immediately....some work at it,toil at it and get it.........and others complain that they have a bad teacher in that sr doctor.Instead of trying to figure out a pattern in the reason for the sr doctor's differing treatments of seemingly similar patients with similar symptoms.......the 3rd type goes on and on about the total madness and inconsistencies.No pattern at all,they would say.

That 3rd variety needs to work harder.......but it always is easier to say that the sr doctor is a bad one.And then all's well .....

But you are entitled to your world-view..........From my end,I am going to continue posting these ambiguous and obscure pivots.Those who are benefitted,great......Else,move on to something you prefer and can make head or tail of.

Saint

The better analogy would have been, had I used the word patient's instead of doctors,.

all doctors(medical year wise) join college at the same time time with the same educational background(atleast in India).
here guys like me who are new to TA find it difficult to decipher your teaching while others (who have been doing it for several years) grasp it like anything.

I was an ardent follower of FA,and used to read stuff's like "the intelligent investor" etc. I always took delivery with plans to sell after substantial gains only.
I used to think TA(like palmistry) lacks exactness and hence it is futile.

this is now when it's difficult to cost average again and again,mocking of fundamentals due to govt. policies and other factors, and having explored traderji ,
I am planning to take the plunge in the trading.

i am now reading TA books and sites and laying my hands on the charting software's.

I think there should be lot of people like me.

all this blah-blah was an attempt to justify my humble opinion.

regards
mahesh