• Sign up >>

P&L Dot (Drummond) & Zigzag indicator

To add comments, please log in or register
GeorgeW
30
GeorgeW  

Hello,

I'm new here. May name is George, I'm 37.

I've been learning how to trade for over a year now. I'm using MT4, but I cannot code.

I'd like to ask 2 questions:

Is anyone here familiar with Drummond Geometry trading?

The most basic indicator in this system is PL Dot.

The calculations:

Take last 3 days:

(Day1H + L +C) + (Day2 H + L + C) + (Day 3 H + L + C)

------------------------------------------------------

3

The dots should appear 1 period forward.

It could also be a simple line, like moving average, not necessarily dots.

Drummond Geometry is a course that I'm taking now, and it is bit complicated system. I've just started with it.

Another indicator based on Barros Swing:

for example a_ZZ indicator with value 5 will draw new line down when the lowst low within past 5 days is exceeded. However, to draw Barros 5D swing we need to add 10% filter, meaning: the lowest low within 5 days plus the 10% value of previous line. Only then the line turns down.

Reverse in downtrend.

Barros swing uses 5D, 18D, 13W, etc. This can be easily set with standard a_zz indicator, but the filter cannot. I attach z_zz, maybe someone could modify it?

Barros swing (also known as Harts swing) is a tool used to count waves by Ray Barros (trader) and Joseph Harts (known for his course on market dynamics).

IMO, both indicators would bring benefit to all who trade on D1 TF, looking for long trends. I've never studied anything harder in my life, but the markets . I went through all stuff with various indicators, lost some real money (yup, I tought I can make it in short time), and in the ned I'm learning nothing but price action and general market structures, using indicators that go with it.

I can't say that no indicators are working, but the problem is that they work for now, then ... some things change and we sit in a hole again. At least for now that has been my experience with many indicators.

But I could be wrong, because there could be traders who use only indicators, but use them in much different way.

Thank you and Best Regards to everyone!

I have some more ideas, but all about price action / Drummond.

George

Files:
a_ZZ.mq4 7 kb
cosmos
7
cosmos  

George,

Here is the 3-period SMA as specified in Drummond's lessons. I hope this works; it is my first foray into Metatrader coding. Please see attachment.

I too am interested in learning Drummond's techniques. it seems the 3-period SMA anticipates the market much of the time.

Cosmos

Files:
GeorgeW
30
GeorgeW  

Thanks a lot, Cosmos.

So it IS just SMA... projected forward.

Regarding to PL dot, I'm just starting it. Now I'm trying to memorize various lines, etc.

But my main thing is the zigzag with 10% filter.

Thanks again, it shows nicelyon platform.

George

cosmos
7
cosmos  

George,

My understanding is that the PL dot is just a SMA projected forward one bar. I've come across a couple other PL dot indicators in other forums, all are SMA (using the same mathematical formula), but they are plotted on the same bar as the data it reflects. The data is not plotted forward one bar. Of course, I am just beginning to learn Drummond's methodology, so I could be interpreting this all wrong. I don't think so, however. BTW, I havn't even gotten to the part on the Zigzag - that's new to me. It appears I have much to learn, but I think it will be well worth it.

cosmos
7
cosmos  

Jist came across the .mq4. I didn't realize it was posted until I did a bit better inspection of the page was viewing. Now the code can be examined.

Files:
GeorgeW
30
GeorgeW  

Hello Cosmos,

Again, thanks so much for the envelope.

I'm sure your logic of PL is correct, because that is exactly what I think: 1 period forward.

There is another dot, calculated on 1 day, and this one is bit hard - it's projected into space between 2 days (between bars), but it can simply appear on the same day.

About zigzag - it's not from Drummond. It's from theory on market structure (how to draw swings, for exmaple: representing monthly trend is 18-days trend, which is the basis for drawing swing).

I'm drawing all by hand, and find it useful, that's why indicator would help since I want to backtest manually last 5-10 years and many markets.

I can explain further if you're interested, but don't want to confuse you, it's not Drummond.

The theory of market structures is I think based on Wyckoff and Steidlmeyer, taught by Harts, Barros and few others.

Best!

George

Nadeem
1853
Nadeem  

This thread is interesting. If any of you can open another thread and explaing the Drummond system, it would be great

GeorgeW
30
GeorgeW  
bossxero:
If any of you can open another thread and explaing the Drummond system, it would be great

Hi,

As for me...need some time. The Drummond stuff is bit complicated (or maybe simple in the end?) plus I don't have much time to learn it every day.

When I'm able to define some simple rules, I will try to write some short document.

George

aris71
24
aris71  

Hi Nine,

Your a-ZZ indicator seems to be my favorite when combine with several other indicators.

Thank You

Files:
chart10.gif 59 kb
GeorgeW
30
GeorgeW  
aris:
Hi Nine,Your a-ZZ indicator seems to be my favorite when combine with several other indicators.Thank You

Welcome!

You use zigzag I see. I also use both, but still experiment with settings

IsaacOnawola
3
IsaacOnawola  

hi

can i ask u somtng...? uh

12
To add comments, please log in or register