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A tool to measure angles and distance on your chart
It is really difficult to find some good info HOW to use the spiral properly. I was testing back and forth and found
the combination of Ichimoku KUMO (as the first end point) with a spiral on top very handy.
I think you will not get a lot of spiral "how to" on the net - so feel free to ask here more.
Thanks for the info and help offers! I currently have the Spiral on TOS and am eager to play with it, but as described in this thread, setting the proper scaling is perplexing me. I will have to take a look at how it works over at Investor RT. Nevertheless, I appreciate your advice and look forward to sharing anything new I find with the Spiral once I can get it to work for me. There is very little information on the net, which I think has to do with the fact that it is hard to apply the Spiral with computer monitors and so people may have stopped using it. The alternative conspiracy theory is that proper use of the spiral is powerful and those who know do not want to share the knowledge
if you post too much about it, you may get an anonymous Spiral in the mail, and that will be the sign to stop talking
R.I.P. Roy Goldberg (srgtroy), 1965-2023.
Please visit [url="https://nexusfi.com/off-topic/60226-srgtroy-r-i-p-brotha.html[/url] for more information.
Let me give you an example of the problem I am having. It is not how to draw the Spiral. It is how to set the scale of the chart. I have attached a picture of the same instrument with the same spiral high/low used on each. However, the chart windows are different size and scale and that creates a different result. Thus, I need to know how to set the proper size/scale of the chart.
R.I.P. Roy Goldberg (srgtroy), 1965-2023.
Please visit [url="https://nexusfi.com/off-topic/60226-srgtroy-r-i-p-brotha.html[/url] for more information.
Yes - I see your problem.
As the spiral is also drawn BACKwards on the timeline - just have a look where a major turning point touched the
spiral in the PAST.
Adjusting then the scale to that special event (on the same INNER round turn line) - you are perfect to have the view into
the future.
Save the chart with this scale setting and you are done
The scaling problem is within every software - so I have the same.
This is not curve fitting in the words sense - if you want to draw a trend line
you need a minimum of 2 points. With the spiral you need in fact minimum 2
if the scaling is fixed - if not you nead at least 3.
The spiral is a powerful tool to get a good bigger picture. Just try.
You're logic makes sense, although I do wonder what the proper "fixed" scaling is. How did they determine it back in the day of charts printed on paper. Anyway, from a practical point of view, you're 3-point rule is a good one.
Wow ! Thank you so much, trendisyourfriend ! You just gave me my customized Ninja Trader 8 It has everything I wanted and more.
Looking for this solution, I found this very nice indicator for people looking at angles and wanting to keep the y-axis fixed and their angle reference intact. Some nice options there.
I wrote some simple stuff to add extra functionality to use the spare space in the Chart Trader column in NT7.
displays average bid/ask spread
displays current time
displays remaining time before current bar closes on chart
displays number …
Just a question : how do you determine your y-axis scale setting for looking at angles ?
I just set a value based on the angles looking "right". I want my explosive moves to be steep, say 60 to 70 degrees, and I go from there and set a fixed scale of for example 2000 points in my 5-min chart, which gives me these angles for the trade I'm looking at. This way I have a angle reference for that chart.
Maybe there's a more interesting way of doing this.
I see @srgtroy is maybe thinking about the same problem.
