(If you already have an account, login at the top of the page)
futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.
At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors – all of which you can find on futures io, utilizing our social trading environment.
With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you don’t need to worry about fake reviews.
We are fundamentally different than most other trading sites:
We are here to help. Just let us know what you need.
We work extremely hard to keep things positive in our community.
We do not tolerate rude behavior, trolling, or vendors advertising in posts.
We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
We expect our members to participate and become a part of the community. Help yourself by helping others.
You'll need to register in order to view the content of the threads and start contributing to our community. It's free and simple.
Thank you very much, Dorschden. This is the first visual tool I have added to my existing chart setup. I can see that it has already helped me a lot. I now have to maximize its potential use in my trading. I love zigzag based indicators and you have done a fantastic job with this PriceActionSwing.
Thanks for an interesting indicator. The statistics are especially interesting.. I think there could be some useful no-trade rules for stategies derived from them.
A question about the statistics... each type of HH, LH, etc is followed by a 4 statistics, which add up to more than 100% in total. How does this work exactly? Is it showing statistics for how likely that type is to be found in the next two swings?
Also would like to clarify what happens when the indicator repaints... what do the statistics show when a zig zig point is repainted and becomes part of a larger zig zag. Do the stats include these cases or are they only calculated from finished swings that are past the point of being repainted.
Can you explain to me what the 'DtbStrength' and 'Span' parameter settings do for the DT's and DB's?
I have tried playing around with them, but I am not sure which one is adjusting the changes on the chart.
I assume one of them is the minimum number of bars that have to occur between the two DT's or DB's - which parameter is doing this? And what does the other parameter do?
Thanks very much.
Last edited by steve2222; March 31st, 2010 at 12:12 AM.
Reason: spelling in heading
I'll upload in two or three weeks a new version with some new features and I'll re-add the ZigZagUTC version and a third mode to calculate the swings.
The new version should not add the statistics up to more than 100%. I think this happen now only when you add the indicator on a new empty chart. Press F5 to reload the indicator and than the statistic should work fine.
The 4 values after the HH, LH, etc show which swing is followed expressed in percentage.
The statistic only calculate from finished swings.
The 'Span' parameter represent how big the swings are and how often they occurred and the 'DtbStrength' property is for the DT's and DB's. With a smaller value it shows only swings as DT's or DB's that have the same swing price and with a greater value it shows swings as DT's or DB's also when the price is further away from the last swing.
The following 2 users say Thank You to dorschden for this post:
Favorite Futures: Index,Currency and Energy futures
Posts: 1,705 since Jan 2010
Thanks: 507 given,
6,269
received
Hello Dorschden,
Thank you for a lovely indicator. Unfortunately the Fib values on my chart seem to be be giving me the wrong values i.e. from top to bottom and I am also not getting values of extension of 1.27 or 1.618. I have tried all the alternatives of the Fib values in the indicator, but it does not show up correctly on the chart. What are your standard values
I have a suggestion for this fantastic indicator that you have created. Can you add volume count to the swings. For example: Up swing A = 3000 contracts/shares / Downswing B = 1000 contracts/shares. ?
I think the volume of swings can be used as a great measure of the strength of the swing. And warn us of potential trend reversals or pauses.
Here is a link to Ord Volume charts. That shows you sample charts of volume swings. You can also see how he uses this volume swing information in his trading. You might be able to implement some of these ideas in the NT7 version.
