|
Marking of Swing w/HH HL LH LL, Price Histogram Lines, Fibonacci Levels Options, QnA |
November 14, 2006
16:27 Ensign Howard: I will now begin a short class on new features for existing studies in the 11-14 version which can be downloaded now.
Marking of Swings w/HH HL LH LL =H =L
16:29 Ensign Howard: as illustrated by the posts by buffy, the swing highs and lows can be marked with labels, and this labeling of HH, HL, LH, and LL or =H and =L is built into the Pesavento Patterns study. The trick is to use the LBL marker for the two trends lines
16:30 Ensign Howard: This LBL marker is uniquely implemented for the Pesavento Patterns study to show both a dot and the label. The label can be either of two colors, the HH, =H and HL will use the Up Trend marker color which on my property form is Green. The LL, =L and LH labels will use the Down Trend marker color, which on my property form is Red. Whether you choose to show a line or not for the swing is controlled by your Line Style selection.
16:32 Ensign Howard: In Buffy's examples, the Style selection for Up Trend and Down Trend was blank. Any questions about the LBL marker changes for the Pesavento Patterns tool?
16:34 DYoung: I really like this Howard, thanks
16:34 MrBuffalo: nice!
Price Histogram Line Options
16:34 Ensign Howard: ok, lets move on to another study, and that is the Price Histogram
16:37 Ensign Howard: In this example, the Virgin POCs option is checked, and this extends the POCs until they are touched by price action on a following day. The line Style used by the extended POC is taken from the Range Band row, which is a bit confusing. The enhancement to the program was to support our new fuzzy fat lines for the Virgin POC, as in this example.
16:40 Ensign Howard: if the Extend POC box is also checked, the line style of the POC after it has been touched will automatically revert to being drawn as a dotted line to the right side of margin of the chart, as in this example.
16:41 Ensign Howard: Any questions about the Price Histogram and the fuzzy line for the Virgin
Fibonacci Levels Options
16:43 Ensign Howard: Now let me show you new options on the Fibonacci Levels draw tool, its property form has 2 more check box choices of Right Margin and Labels Above
16:46 Ensign Howard: Here is typical Fib with Vertical Line unchecked. Now I will show 2nd style of Vertical Line being checked. Sensitivity is not an issue of the labels, it is issue of the parameters used for Min Size and Min Bars. You can use all the other stuff on PP properties same as before
16:54 Ensign Howard: So with the Right Margin option, can reduce some chart clutter too by not having the Fib lines drawn through the bars and you can choose whether you want labels on the ends of the lines or above/below the lines. Have lots of flexibility
16:55 @Buffy2: amazing what you are coming up with - really nice
16:55 craig: this is phenomenal software and it even has support - amazing
16:56 Ensign Howard: any questions?
16:54 DYoung: I like the margin idea very much. Too bad one could not tie the fib tool to a study like the PP or ma highs and lows so that the fib could be in the column, not on the chart. Thanks again Howard for your quick work on the HH, LL for those of us using it
16:56 Ensign Howard: dyoung, the fib values can be in the study list on the left side. I will add this material to the New Features web page later today
16:58 Ensign Howard: any questions
17:00 @Buffy2: nice sniffy
17:01 Sniffy2: well done Howard
17:01 Ensign Howard: thx sniffy
17:05 Ensign Howard: ok, any questions about the minor changes added to 11-14 version? Probably will sit on this version for a week..... I will be out of town Thur - Tues with a trip to Las Vegas for the Traders Expo. If anyone will be in Vegas, let me now and possibly we can meet up on Saturday at the Pesavento seminar
17:06 @Buffy2: you enjoy yourself Howard
17:07 Fib: Howard, can the fib lines also be on the left margin besides having it on the right margin? Thanks.
17:09 trendtrader: Thank you so much for the new addition to the pesavento pattern tool HA. It's gonna make identifying chop alot easier
17:23 Ahek: I have to say I am pretty impressed with the ability to customize ensign. ver well done !!
17:23 Ensign Howard: thx
17:23 cherokeeruby: question here
17:23 Ensign Howard: ask
17:23 cherokeeruby: on the pesavento pattern LBL thing, would it be possible to have the LBL $ -- Have it say HH and the $ amount
17:25 Ensign Howard: cool sniffy....
17:25 Sniffy2: :-)
17:25 cherokeeruby: yes, I have $ checked now, can it also label it as HH of LH, etc.
17:25 Ensign Howard: Makes be feel good to see features get used
17:25 cherokeeruby: have both there
17:27 Ensign Howard: like this? just put PP on 2nd time. Have one with $ marker and have 2nd with LBL marker. Also you can do it with just one PP but it takes a bit more effort to configure. You would do it like this example.
17:29 Ensign Howard: Trick is to use LBL for the two trend markers, and use $ for the other swing markers. If you do not want to see the other swing line, then you have to change the line color to be the background color. Just changing the line style on the triangle lines is not sufficient because a blank line style for these will then skip the marker as well
17:29 Fib: Howard, is the Persavento Pattern Auto Min Size a preferred choice to use? Thanks.
17:32 Ensign Howard: yes, Fib, I consider the auto min size on PP to be pretty effective and generalize so tool can be put on any chart
17:32 Fib: Thank you Howard.
17:36 @Buffy2: could he put a 3 day bar on a daily? Like I put 15m and 30m on 3min.
17:36 Ensign Howard: We can start with a daily chart and use a DYO to show highest high of 3 bars, lowest low of 3 bars, etc and show a built bar by harvesting the open, HH, LL, and last from the 3 bars but the question still begs to be asked of why bother. What are you going to see on a 3 day bar that you do not already see on daily or weekly bar charts
17:36 cherokeeruby: How do you do that Buffy?
17:38 @Buffy2: that was for cherokee :-)
17:38 Ensign Howard: yes, buffy, similar approach. Cannot use that statement because it resets each day. So those statements would be internal to each day
17:40 Ensign Howard: ok, thanks for attending, see you tomorrow for regular class after markets close
17:40 @Buffy2: thanks so much Howard this is great
17:40 Ensign Howard: I will go get the New Features page updated with examples shown here
17:40 @Buffy2: enjoy rest of evening
17:41 Ensign Howard: then John and I will be traveling on Thurs to St. George UT for couple days and make it to LasVegas on Saturday for Pesavento presentation
17:41 @Buffy2: be safe enjoy
17:41 Ensign Howard: Larry will then spend couple days with John and I before we all return home
17:43 Ensign Howard: bye
17:43 @Buffy2: night Howard -- again thanks
17:44 Ahek: thanks for spending time with us.