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Re: The Most Valuable Thing about Real Time Quotes...a Question...and the Market...


  • To: Christian Baude <chipa@xxxxxxxxxxxxxxx
  • Subject: Re: The Most Valuable Thing about Real Time Quotes...a Question...and the Market...
  • From: Chip Anderson <chipamy@xxxxxxxxx>
  • Date: Sun, 14 Dec 1997 11:02:02 -0800 (PST)

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You are absolutely right Christian - as with most things, the ZigZag
indicator deserves a footnote because it's last leg is dynamic - I
should have mentioned that in my original mail.  The technique will
work with most, if not all, of the other indicators.

If you really want to see the ZigZag change over time, you can - but
it is kinda painful.  Here's how:

1. Load up a chart
2. Right click on the X-Axis and select "X-Axis Properties"
3. Enter a range of dates (in the past) for both the "Display Dates"
and "Load Data" dates.  Make sure the "Last Date" is at least a couple
of months ago.
4. Plot the ZigZag
5. Right click on the X-Axis and select "X-Axis Properties"
6. Move all of the dates up by one day.  (Painful I know ;-)
7. Look the chart again.
8. Repeat until you are sick of the ZigZag!

Hope this helps,
Chip




---Christian Baude <BAUDECB@xxxxxxxxxxxxx> wrote:
>
> 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.
> 
> Hi Chip,
> 
> 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  =-
> 

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