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Roy,
Your advice worked like a charm, as always!
I use the last prd periods because sometimes movements
happen over a different time period than those defined in calendars.
I suppose I could modify my formula more to include days, weeks,
months, years etc... but the orginal code was written for someone
else; I have never been really sure on the proper use of pivots?
wabbit :D
--- In equismetastock@xxxxxxxxxxxxxxx, "Roy Larsen" <rlarsen@xxxx>
wrote:
> Hi Scott
>
> Was my suggestion using ValueWhen() of any use?
>
> > "Dynamic" because I couldn't think of another term...
> >
> > The results in the "static" mode will not change as more data is
> > added over time, as the formula calculates the pivot point using
the
> > first prd data points, then the next prd data points etc.
>
> I think you'll find that if you have more data than you load for
the chart then your bar one
> reference is also dynamic. Each time you add a new bar at the right
you drop one off at the left.
> This is a good reason for sticking with natural divisions in the
data such as weeks or months. Other
> divisions such as 30 days are arbitrary and in the situation I've
mentioned then whatever end you
> use as a reference the result is still "dynamic". I know there are
those that want to use this type
> of indicator, but it's impossible to backtest. Even when there are
less bars in the chart than able
> to be loaded the starting bar is going to be arbitrary in nature,
the day of the inititial float for
> example.
>
> Regards
>
> Roy
>
> PS: It's good to see you contributing with your knowledge and
skill. Keep up the good wook.
>
> > In the dynmamic mode, the formula uses the last prd data points,
so
> > as more data is added over time, the result will change i.e it is
> > dynamic. The same rules about making a system using this data
would
> > apply to the zigzag indicator too.
> >
> > Hope this helps.
> >
> > wabbit :D
> >
> > --- In equismetastock@xxxxxxxxxxxxxxx, "Roy Larsen" <rlarsen@xxxx>
> > wrote:
> > > Hi Scott
> > >
> > > I'm not sure what you mean with your question about dynamic
mode.
> > Possibly you're referring to both
> > > plots being the same initial value (on my test chart of MRE). If
> > that's the case then change
> > >
> > > UL;
> > > LL;
> > >
> > > to
> > >
> > > ValueWhen(1,UL<>LL,UL);
> > > ValueWhen(1,UL<>LL,LL);
> > >
> > > If I've got it wrong, no problem.
> > >
> > > Regards
> > >
> > > Roy
> > >
> > >
> > > > I offered this formula in a another forum, but have had no
> > > > feedback...
> > > >
> > > > I now offer it to you. If this is what you are looking for,
> > great!
> > > > If not, let me know and I will modify it to suit.
> > > >
> > > > --8><------------------------
> > > > {Pivots v1.02}
> > > > {©Copyright 2004 Scott Bunny}
> > > >
> > > > {Dynamics:}
> > > > { 1 - counts from first bar forward}
> > > > { 2 - counts from last bar backwards}
> > > >
> > > > prd:=Input("Periods...[1-260]",1,260,30);
> > > > multiplier:=Input("Multiplier...[0.1-2.0]",0.1,2,0.5);
> > > > dynamic:=Input("1-Static, 2-Dynamic...",1,2,2);
> > > >
> > > > prds:=If(dynamic=1,Frac(Cum(1)/prd),Frac((LastValue(Cum(1))-
Cum(1)
> > > > +1)/prd));
> > > >
> > > > hi:=If(prds=0,HHV(H,prd),PREV);
> > > > lo:=If(prds=0,LLV(L,prd),PREV);
> > > > cl:=If(prds=0,C,PREV);
> > > >
> > > > pivot:=(hi+lo+cl)/3;
> > > > range:=(hi-lo)*multiplier;
> > > >
> > > > UL:=pivot+range;
> > > > LL:=pivot-range;
> > > >
> > > > UL;
> > > > LL;
> > > > --8><------------------------
> > > >
> > > > Hope this helps.
> > > >
> > > > wabbit :D
> > > >
> > > > P.S. Roy/Jose/Henry etc. Is there a neat way to deal with the
> > first
> > > > prd bars on the chart when in dynamic mode?
> > > >
> > > > --- In equismetastock@xxxxxxxxxxxxxxx, "Fulvio" <fulami@xxxx>
> > wrote:
> > > > > hi,
> > > > >
> > > > > is it possible to calculate pivot point with a metastock
> > > > exploration?
> > > > >
> > > > > Thanks,
> > > > > Fulvio
> > > >
> > > >
> > > >
> > > >
> > > >
> > > > Yahoo! Groups Links
> > > >
> > > >
> > > >
> > > >
> > > >
> > > >
> > > >
> > > >
> >
> >
> >
> >
> >
> > Yahoo! Groups Links
> >
> >
> >
> >
> >
> >
> >
> >
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