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Dear Tomasz,
Thank you very much for your reply.
Best Regards
Dimitris Tsokakis
--- In amibroker@xxxx, "Tomasz Janeczko" <amibroker@xxxx> wrote:
> Hello Dimitris,
>
>
> >I am disappointed with this new "illusionary" tool. It is in
direct disagreement
> >with the VERY SERIOUS LEVEL of the software I use.
> The problem is that Fibonacci Arc tool is used by many people and
present not only
> in Metastock but also in almost every professional T/A package.
>
> I understand your concern but Fibonacci Arcs work just like that
and I was not able
> to implement them in a different way and still call them "Fibonacci
Arcs".
>
> But... with AmiBroker you have a choice:
> there is a new tool called simply "Arc" - available from Insert
menu that is relative
> to real date/price scale axis, so it does not suffer from the
effect described by you.
>
> So I guess everybody should be happy now.
>
> Best regards,
> Tomasz Janeczko
> ===============
> AmiBroker - the comprehensive share manager.
> http://www.amibroker.com
> ----- Original Message -----
> From: Dimitris Tsokakis
> To: amibroker@xxxx
> Sent: Wednesday, August 22, 2001 8:57 PM
> Subject: [amibroker] Fibonacci (Optical) Illusions
>
>
> I do not run Metastock software.
> So I do not have the problem of center of cycles tapped
> here and there.
> I run Amibroker and with 3.68 I have a new tool, "Fibonacci arc".
> The center is always at the same, user selected, point C.
> The beginning of the trendline is always at H, independent
> of zoom factor or window shape.
> The release note, as usual well prepared and comprehensive,
> notes that "arc radius and central point are relative to the
controlling
> trendline and because Fibonacci arcs must be circular regardless
of
> screen size/resolution and zoom factor the position of the arcs
may
> move in date/price domain." And it is 100% exact and specific.
> So, let us see what we have here.
> It is supposed that something happens and so I will take some
action
> (buy, sell or whatever "analysts" suggest here and there) when
stock
> graph crosses the arc. For simplicity, let us consider outer arc
in attached
> gifs.
> According to F1.gif, I have to wait 22(!!) days for point A.
> F2.gif is "better". Only 5 days more and I will meet my good
fortune at A.
> All of a sudden, at F3.gif, I see that this is THE DAY. And if I
do not remember
> by heart, I have to read my "analyst" guidelines again, because I
have to take
> the ACTION. You understand that if I will loose the day of the
coincidence, I
> must wait for the next opportunity.
> But at F4.gif I stay cool again. If point A was important, alas!,
I lost it, because
> I was not using the PROPER zoom factor !!
> My "cross" day is now 45(!!) days AFTER point A.
> I read a lot of hints, that circular arc are "standard", that any
other elliptical arc
> is "dangerous" for trading decisions, because "analysts" etc.
> Now I have to read again my books, to find the paragraph that
correlates
> Fibonacci Arcs and Zoom factor and Window size, as decision tool
for
> Support, Resistance and whatever.
> I am disappointed with this new "illusionary" tool. It is in
direct disagreement
> with the VERY SERIOUS LEVEL of the software I use.
>
> Dimitris Tsokakis
> (an Amibroker user)
>
> Yahoo! Groups Sponsor
>
>
>
> Your use of Yahoo! Groups is subject to the Yahoo! Terms of
Service.
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