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Thanks for checking into it. After playing back some replays and Printing PriceSwingRelation [0], [1], [2], etc. I saw that using [0] was causing some problems for my if statement logic, so I first changed it to [1] which appears to have corrected the problem. Next I decided to code a temp variable in my strategy/indicator which tracks only when PriceSwingRelation changes from + to - or vice-versa, which also appears to correct the issue. But I look forward to any future versions!
I'd also like to add, your planned statistic add-on and cclsys' suggestions would be wonderful to see sometime in the future. While I am no great coder, I would offer to lend any help that I am able to.
I'm glad that you resolved this issue for yourself, because I haven't found any time today to program the new logic. The next version comes in two weeks when I'm back at home.
Thanks you very much for this tool. It looks like a nice one. There are some things that I wanted to ask you about though. Would you please be kind and show me an example of an AB=CD plotted on the chart. I really can't find one.
And, would it be possible to only implement these four fib numbers:
0,618
0,786
1,270
1,168
(+ additional 0,38 and 0,85) These numbers are needed in case a swing only retraces 0,38 meaning that the move was fast, and 0,85 which can be used as the last retracement point, in order to validate if we're still in a retracement of the former move or, if we're on our way to change trend of the former swing.
I'll show you a picture of a nice AB = CD with these numbers:
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So, in order to get a valid AB = CD, then the rules would be like this. (I lack programing knowledges, so I'll write it like an if and then rule)
If retracement of former swing = 0,618
then
Plot extension of 1,618
and the same would go for 0,786
If retracement of former swing = 0,786
then
Plot extension of 1,270
Now when I observe this indicator, while I'm writing these lines, (which is quite nice, because it has a very valuable ground to built further on) I see that the ABCD entry is based on plotting the retracement of the former Swing. I just came up with one idea, in case it woun't be possible to make it plot ABCD the correct way. Maybe if the plot would remain on the chart, then it would function as an visual aid, so that one can count the ABCD's manually. Meaning that it will be easier because we get to know the value of BC. That by itself means that we know what to expect from D.
Anyhow, this are just my thoughts on this indicator, in order to get it closer to Harmonic Trading.
Oh and one more thing, would it be possible to make the fib colors changeable?
Thank you!
/George
The following 5 users say Thank You to George for this post:
the Fibonacci retracement/extension and the AB=CD entry area are only plotted for the last swing. Here is an example for the AB=CD pattern. You can see the Fibonacci Retracement and the entry area for AB=CD.
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And here you see the target zone which is visualize with the Fibonacci extension.
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In the next version I will add the letters above the swings and the retracement value. Furthermore I'll see whether I can visualize the AB=CD rules you mention. BTW thank you for the Harmonic Trading rules!
The Fibonacci tools have the default settings from your NinjaTrader and for the entry area you can change the color in the Xtras category.
Thank you very much for the explanations, and the examples. The more I play with it, the more beautiful the tool gets. I like it very much! And thank you for the great work you've done with it.
If there's anything ragarding to HR, please let me know, I'll be happy to contribute within the content of my knowledges.
I look forward to the next version of this tool.
Happy Trading!
/George
PS: Regarding to the fib numbers, (,786 etc) I guess it's impossible to edit the defaults then, right?
you must double click on a Fibonacci retracement then you get the "Fibonacci Retracement Properties" window and there you can set your personal settings for the retracement. After that you must push the "Set Default" button and then all your Fibonacci retracement have your personal settings. You can do the same with the Fibonacci extension.
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Last edited by dorschden; March 31st, 2010 at 01:27 PM.
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Thanks a lot. I did that, but unfortunately it doesn't keep the changes to the next plot. I guess it's because NT, doesn't keep the changes as default, making the indicator keep on plotting the NT default fibs each time it plots a new swing.
Can you explain to me how/when the swing becomes "fixed" at its location. i.e. if you want to link the swing indicator into a strategy, it becomes difficult as it can continue to move lower/higher after painting an initial marker - any thoughts on how this can be handled at a automated level or any indications in the values etc?
I've been having the indicator under observation for a while now. My impression of it is that it's a great tool. I would though like to ask you if it would be possible to make it plot the fib retracement as soon as the dot is plotted at the end of the swing.
The way it works now is by plotting the FIB retracement when the new swing is plotted. So, would it be possible to make it plot the FIB as soon as the swing is finished and the dot appears instead of waiting for the next swing to be plotted.
The advantages of this is that, you filter away a lot of clutter when the market is moving fast, and you get the FIB retracement on every swing.
Thank you in advance!
/George
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