Trading Reference Links
On Sat, 13 Dec 1997 14:08:26 -0800 (PST), you wrote:
>Many people are unaware of MetaStock's "Learn by Scrolling"
>capability. With a chart that has several years of historical data,
>MetaStock can simulate what you are describing. Simply load up the
>chart, scroll back a couple of years/decades/whatever and then scroll
>forward one day at a time by holding down the shift key and clicking
>on the right scrollbar arrow.
This is a quick memo, so I may be wrong, but I just checked the above,
using the "sucker bait" ZigZag" indicator. I did not see any change
in the indicator as I scrolled. Therefore the scrolling is not dynamic
on the indicator.
In other words, the turning points (reversals) remained the same. If
you have forward data, all this does is display one day at a time -
the existing indicator -, it does not recalculate for the new data
(forward data) as you move along.
If you plot the ZigZag each day, then do a back comparison, you will
see that the ZigZag will recalculate and give you a change of
direction different from what was being indicated several days before.
A change in the security's price can change a previous value
(reversal) of the indicator. The ZigZag indicator can adjust it's
value based on subsequent changes in the underlying plot... it has
perfect hindsight into what prices have done.
To me, this was that "sucker bait" from a previous post (forgot who
the user was), claiming the ZigZag as an ideal indicator. You cannot
trade the ZigZag.
Another way of doing this, is chop off one day at a time, and look at
the pivot points of the zigzag.
-= Chris ß =-