a trading strategy based on Elliott Wave Theory - page 31
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
There are Up and Dn Risk Level values in the caption on your chart. Their meaning is generally clear from their names.
But it is only in general. And you cannot understand many things in particular. :-)
If they are estimates of probability of that the market will go up or down, then their sum should equal 1.
If those are estimations of probability of some levels up and down, then it looks different. :-)
Could you please explain how in fact and, if possible, what the quantification is based on.
Thank you in advance.
This information is debugging and shows the final figure in percentage terms, which indicates how many lots of the specified maximum possible will participate in trading, if the input signal is generated at the current bar or at the time of opening the next one. I wrote that my Expert Advisor is working in debug mode. I think I would have tested everything long ago, but now I have to print a lot of intermediate information which naturally slows down the Expert Advisor.
There is also a number of bars there, it is the initial bar from which the last medium-term trend was determined. In other words, it is the beginning of the medium-term trend channel.
Good luck and happy trends.
You gave a good proof that iStdDev() is equivalent to STANDOTCLONP().
But my question was not about that ;-)
...
But here columns I and K contain very different results.
IMHO there is a terminology problem in the article, because iStdDev obviously doesn't use muwng approximation, while this function (iMA) in StdDev.mq4 is used for other purposes ;-)
I.e. iStdDev is NOT a measure of dispersion of data around a moving average from that data, it is RMS in standard probability theory terminology.
Thanks.
Z.I.: Nice Paint you have, not unlike so common! ;-)
Now I get it. Yes, you're right - it's a bit different. But Vladislav meant using this function (StdDev) on the entire channel sample, i.e. the averaging period is equal to the number of bars included in the channel. And that is what I suggested in the article to use it for. This function shows how much the data was scattered in the past from the muving value over N bars (draw a horizontal line) on those N bars. Concerning the terminology - I will look more precisely.
Anyway, if you had attached the picture it would have been much clearer, otherwise we do not understand each other :)
It is difficult to find fault with it - it may be interpreted this way and that way:)
The code also takes a muving on a fixed bar and looks the spread from this value to an array of prices. In general, I understand your comment, but I think that 99% of users don't care about this difference - call it a scatter from the muving or a standard classical deviation. :)
You mean the 99% of users ? ;-) Who carry sacks only after hearing about ...
I agree with the rest. Now we understand each other :)
Thanks for doing the drawing for me! It turned out very clear.
Unfortunately, StdDev counts classically only in SMA mode. In other modes we get "variations on a given theme".
And in my first question I meant, indeed, the horizontal straight line as the simplest approximation.
Vladislav, perhaps you have tried it in the beginning of your developments of trading systems?
Thank you in advance.
Thanks in advance.
No. The matter is that I need to know how well this approximation describes the current market movement. And for this very purpose I need to estimate the spread around the approximated value. This is also called the standard deviation of the error.
Good luck and happy trends.
I still can't understand the Herst coefficient application.
The formula of the coefficient has MathLog(nHrst*0.5) in its denominator;
I understood that nHerst is a period for which the coefficient is calculated.
But if we change timeframe, say, from M30 to M5, let's say the period will be changed 6 times per day and consequently nHerst coefficient will be changed as well.
This should not be the case, otherwise the use of this coefficient is simply unreasonable. Maybe by period is meant time?
Thank you for your answer -Alexander.
Good luck and good trends.
Thank you for your reply. Could you please explain the following.
You use a number of confidence intervals: 90%, 95%, 99%, etc. For each of them the channel width is defined in brackets. This fit, however, depends on the type of probability density function. Implying that a normal distribution is used ?
Also. The RMS for a sample is also a random variable. Do you use the calculated value directly or do you take its variance into account somehow?
Thank you in advance.
PS.
By the way, I have to join ANG3110 in a question concerning Hearst's index.
If, as you once wrote, the slope (S) must be calculated using the error array (i.e. difference of the price and its projection given by the regression), then the range (R) must be calculated using this error array. At the same time, the last script variant for the calculation of the regression channel and Hurst index, which solandr pointed out as correct, uses the error array for the calculation of the cramp, and the spread is calculated as the difference between High and Low in the sample. Where is the justice, good people ? :-)
nHrst is the number of items in the sample for which the indicator is calculated. If that is what you meant, that is correct.
I don't know about the appropriateness of using the Hurst indicator, but there is certainly some inconsistency in its calculations. The time series we have in any t/f is bars, each of which has a whole range of values. Hearst is calculated using a time series, which is a simple sequence of numbers. You can count by Close, High or Low. Or you may take an arbitrary value between High and Low for each bar. Generally speaking, you will get different values as a result.
The only hope is that for large enough samples these values will converge. However, when you go to a higher t/f the High-Low range increases, and the number of elements in the sample decreases, and significantly. Therefore the validity of the result drops significantly.
IMHO
ran solandr's processed code through history on several currencies by Print- ratio is within 0.2~0.4 Is it correct?
.......................................................................................
21:27:47 2006.06.01 17:59 xxx EURUSD,H1: HURST[0.3102]
21:28:50 2004.01.05 00 00:00 xxx USDCHF,H1: HURST[0.1666]
.......................................................................................
21:29:06 2006.06.01 18:59 xxx USDCHF,H1: HURST[0.3029]
and other currencies same