Indicators: FivePattern - page 4
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
Good afternoon.
I appreciate such active users, thanks to you it is easier for developers to move forward, but the evaluation of the indicator 5+ is debatable, I personally rate it at 3. Unfortunately for me the last two months were almost not fruitful, because of the heavy workload at the main job - you probably heard on the news: "Kamchatka is at war with imaginary enemies" (this is me about the exercises in the Far East). So before the Motherland adjusted my plans, I studied your idea:
and came to the conclusion that it is viable and will give a huge advantage to the indicator, if on the current timeframe there will be not one figure as it is now, but a "synthetic figure" consisting of figures of the junior timeframe and a higher timeframe:
And there can be many trading algorithms with this indicator.... For the current version of the code, I personally recommend using the typical scheme of technical analysis: correction after a "big wave", i.e. use the figures:
M1, M3, M5, M7, M9, M12, M14 - to place a pending buy order, point E - buy price, point Mutations - take profit;
W3, W5, W8, W10, W12, W14, W16 - for placing a pending order sell, point E - selling price, point of Mutation - take profit;
Regarding the Theory of CHAOS, I have not yet grown up to this theory, it is too early for me to use it, although I really want to. But as a "full zero" in the Theory of CHAOS, I think I need 4-point figures there.... but THIS IS NOT A CONFIRMATION, but the DILETANT'S FEELINGS!
Is there a clear description anywhere? Everywhere I come across the phrase"The dynamic pattern is on the first four rays of the zig-zag to the right" - to the right of what?
This phrase implies the fact that the last knee of the Zig-Zag is not formed, and additional methods of checking its correctness (completeness) are required. In my algorithm I use the well-known Fibbonacci coefficients. It is programmatically faster and simpler that way. But I have read about more complicated methods, for example, in the booklet "Bollinger about Bollinger Bands" it is said that it is possible to detect M & W figures using Bollinger Bands, but I was not inspired by this method. And by the way, in the classical understanding of the theory there is NOT ONE WORD about the ZIGZAG INDICATOR! And there is as follows: "A. Merrill used an 8% price filter, instead of a volatility filter like Levy (the founder of the five-point figures)". I have never found information about "who was the first to use the Zigzag indicator" in determining the patterns, and it is not so important, but what is important is that these are price extrema found with a given accuracy.
You can see the implementation of the pattern system with the core on Bollinger Bands at: http://www.patternpower.com/. I personally have not downloaded and compared it yet, but I plan to.... I wonder how it turned out abroad... they had more time.
Thanks for the answer, but I didn't see the answer to the wording question. Of course, everything is known about the zigzag. But how this incompleteness of the last knee and checking its correctness relates to "the first four rays on the right" - I don't get it. To the right of what? Why the first and not the last? There is the current time. The entire zigzag, including the last moving knee, is to the left of that point, and to the right is the void we are trying to predict (in particular by fibo levels or other methods).
MY ANSWER:
The author of that creation you read didn't finish the sentence, and his point is this:
In the Institutional version of A. There are two types of patterns: Static patterns ( these are the patterns that have already completed their "life cycle" and are part of the price chart history) and Dynamic patterns (these are the patterns that are still in development), relative to the last static pattern look for a new dynamic pattern, so the four knees to the right of the last static pattern!
MY REASONING:
I do not in any way doubt the genius of A.Merrill and other men of science who worked on this theory, BUT then how will this theory differ from the classical wave markup.... waiting again for events with a lot of unknowns??? And why there is no clear cause-and-effect relationship between M and W waves? Having carefully examined the senior patterns and mentally setting aside the first knee, this connection is easily found.... and as strange as it sounds everything works perfectly! That's why in my indicator all patterns are dynamic, and mutation appeared (there is no such notion in the institute theory).
I think I have now given you a detailed answer.
I don't get it either, please, one more time - on each TF all different zigzags, on the small ones are sub-waves of the big ones, what is their sameness, and what connection is found, straight lines are a part of fibo or flat its scope and how to understand the forecast with two dotted rays, which of the nicknames denote what and CHAOS ARE WILLIAMS INDUCES or how??? where to see these 90-80% of entry and exit, or at least 55-60% for beginners as it is like nothing understood, please )) at least someone who understood everything ...
Let's try to understand together, and try to analyse the price behaviour according to M & W W Waves + a bit of chaos theory with the addition of Elliott Waves....
Let's take the first currency pair, for example AUDNZD.
And so, what we have :
AUDNZD - W1 the pair is in correction after the downward movement with the completed 5 wave structure of Elliott waves and wave W1 of Merrill, the general target level of correction 61.8% Almost formed wave A - 38.2 on the fibo grid, and the 5th wave W1 is also directed there, as we see the target is not reached when reaching the level of 38.2 FivePattern indicator shows the further development of events, either evolution in W2 rebound from 38.2 or mutation in M2 that corresponds to the breakdown of the level 38.2 on fiba, based on the chaos theory we have a reversal bar with divergence on AO in point 4 of the FivePattern indicator, the transition through 0 on the AO indicator, an open alligator mouth, as well as a signal for the breakdown of the third sage, which is just below the level 38.2 above the point 5 of the FivePattern indicator, in case of breakdown of which, the price may jump through the level 38.2 or may break away from it and form the 2nd wave of correction B from the level 23.6 To make it clearer we need to consider the correction on the daily time frame.
As we can see, on the daily chart, the correction has already occurred, and the beginning of a new 5 wave Elliott structure, or rather its completion, which means that the first wave of the week is almost formed and there will be a corrective pullback in wave 2, as for the FivePattern indicator, which shows the completed wave W13, which in the case of evolution forms a wave W14, in the case of mutation wave M13 both waves in structure resemble the correction of wave 2 in Elliott. On the trading chaos we can say the following, the price is in the red zone, there is a divergence, as well as a reversal bar formed on the weeks, most likely there will be a correction in the second wave on the weeks and you can enter short sales, as well as do not forget that we have a breakout fractal formed on the weeks (the third sage) and in case of its breakdown the price will move up, as the first wave we have formed, the next will be the third wave. I think it makes sense to go to H4 and look in detail....
On H4 I think everything becomes clear, according to FivePattern indicator in case of evolution in M3 there will be a breakdown of 23.6 on the weekly fib and entry into short sales with the target indicated by the indicator, in the case of mutation W4, in the case of chaos selling there has already been a breakdown of the third sage, and the breakout of the channel, the price is in the red zone, you can try to enter into short sales with a stop at the last fractal, and when reaching the target on the indicator. FivePattern to look for buy signals, it also makes sense to place pending orders at the maximum in case of breakout, and the formation of the FivePattern indicator upward wave.
Well that's how it is, you can basically take it up to M15, but I think it is enough to understand the meaning of working with the FivePattern indicator, it can be used as an addition to any strategy, and thanks again to the author of the indicator, excellent work, and free of charge, I hope for further improvement of the indicator to the trading panel. If you have any questions, please write here or in a private message, I will try to answer them all.
ozhiganov, nav_soft THANK YOU for your comprehensive reply!
I downloaded the indicator for RTS index 12,14 in "Open" on D1 and above is not displayed, is it probably a lack of history bars?
it would be good to display the available information about the current pattern in the upper left corner of the window, like in the previous version of the General tab, for example:
uptrends - M15, M16, W14, W16
downtrends - M1 M3 W1 W2
head and shoulders - w6 w7 w9 w11 w13 w15
inverted head and shoulders M2 M4 M6 M8 M10 M11
and other.... useful.
ozhiganov, nav_soft THANK YOU for your comprehensive reply!
I downloaded the indicator for RTS index 12,14 in "Open" on D1 and above is not displayed, is it probably a lack of history bars?
it would be good to display the available information about the current pattern in the upper left corner of the window, like in the previous version of the General tab, for example:
uptrends - M15, M16, W14, W16
downtrends - M1 M3 W1 W2
head and shoulders - w6 w7 w9 w11 w13 w15
inverted head and shoulders M2 M4 M6 M8 M10 M11
and other.... useful.
Well so reduce the search box to 110 (HistSize - "Zigzag: History size for calculations"). I wonder how it will work on the index???(I have not tested it...) It may well turn out like this: due to low market volatility the indicator will not work, as in the second version I remember struggling with flat.... Look for the comment in the file mycpatternzigzag.mqh "ANTI-FLAT" and comment out the code below the inscription up to return(true), maybe it will cure.
About mapping to technical figures:
The first version of the code had this, but then I personally tested them in a case.... and got a complete disappointment (the actual figure of Head & Shoulders)... 40-50% of TC efficiency, it's easier to guess on coffee grounds! But then there was TS 2 version FP + CCI efficiency improved up to 75-85%, here I rejoiced, but too early... The standard Zigzag is too subject to overoptimisation to the current volatility, i.e. the TS drains the deposit on significant forwards. I started working on a new core, in the process of work/testing it struck me, the easiest and most effective way was in plain sight: it is a price correction. The market will not go anywhere from you! The main thing is to know the approximate place of entry and exit. The third version of the TS without any optimisation showed 98% of profitable trades. So that's what I'm saying - I removed them so as not to confuse people. But if people demand it, there will be a comparison with the technical model.
By the way, I noticed one pattern when optimising the search core, whatever the search algorithm is: Classic Zigzag or other, the error in predicting the next model varies about 20+/-1 %. And this leads me to think that A. Merrill either deliberately did not describe 6 patterns (i.e. 3 M and W figures each), or did not detect them.