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Vista, Automated System, Back Data with IB, Wave Count - Pesavento Patterns - Gann Fans |
January 31 , 2007
16:39 Ensign Howard: Welcome to today's training class with the Ensign staff.... today's class will be taught by Howard.
16:41 Ensign Howard: The January issue of Trading Tips newsletter has been published, and if you are not yet on the Newsletter e-mail list you can still read the newsletter on the Ensign web site on the Newsletter page.
http://www.ensignsoftware.com/tips/newsletter.htm
16:42 Ensign Howard: There are 3 articles in this month's newsletter, 2 related to explaining Forex trading and the free FXCM forex feed available in Ensign Windows.
16:43 Ensign Howard: The 3rd article was submitted by Buffy and has lots of excellent advice on how to develop a plan and become a successful trader. Please read her article and give her the well deserved compliments she is due.
16:44 Ensign Howard: I appreciate getting article submissions as it makes the task easier to publish a newsletter monthly. So if you have material for an article that is educational for all, please consider our newsletter as an avenue for getting published.
Vista
16:47 trendtrader: Will Ensign install on the new Microsoft Vista OS? I read that Vista won't allow anything using a 16 bit installer and just want to be sure before I pay for an OS that I can't use my programs on.
16:41 Ensign Howard: I believe the answer is Yes, Ensign will install, and the reason for the belief is this. We have been in contact with a customer who apparently has the new OS and could not install the EDS though he could install Ensign Windows. So part of the delay in releasing the upgrade to EDS has been our effort to upgrade the installation software so that it would install on the new OS.
16:42 Ensign Howard: On the Download page of our web site you will now see 2 links for the Ensign Data Server. The first of the 2 links is the original installation program but with programs updated to be the latest versions. And the 2nd links is the new installation program that we expect to work with the 64 bit operating system, and the link is there for the user who contacted us to try downloading the EDS and installing it so he too can have the FXCM data feed.
16:44 trendtrader: OK thank you. btw for anyone using matrox video cards , they plan to have vista drivers available by the end of Feb.
16:44 Ensign Howard: Is anyone in the chat room currently using the Vista OS and can verify that Ensign Windows installs and runs OK with that feed?
http://www.ensignsoftware.com/download.htm
16:45 fthomas: Is your trading is serious, then Vista should not be an option until MS provides the first service package.
16:46 Ensign Howard: I guess the wisdom of the room is to be patient a little bit and get feedback from those who venture first to Vista
16:46 fthomas: yes, always better to be on the leading edge but NOT the bleeding edge
16:47 Ensign Howard: good wisdom.
(Since the class Vista has been shown to have problems viewing the Ensign help files and the videos.)
Automated System
16:49 klevine: I also have a question....I would like to develop an automated system, ala Metatrader. Do you have hooks to interface with broker order placement?
16:54 Ensign Howard: klevine, Ensign Windows does not have any direct interface to any of the order entry platforms. We do use the Interactive Broker data feed, but leave it to you to use THEIR software to execute trades in your account. That way, the perceived liability for what happens in your account remains between you and them, and Ensign is not to bless or to blame for errors
16:56 klevine: Thanks for the response.
Back Data
17:09 Rose: I'm using IB feed and with the ER I get only 6 months worth of data on the daily chart. Is there any way I can get more?
17:10 Ensign Howard: rose, use the Internet Services form and download the ER2 #F daily continuation file which goes back many years
17:10 Rose: Aha! Thank you! :-)
http://www.ensignsoftware.com/help/data.htm
17:11 Ensign Howard: ER2 daily file we have is from 10-24-2001
17:09 alfa: Howard when u available have question with symbols prop.window. I am trying to see night session for ER and all I get is a day session. But daily chart seems shows night session
17:12 Ensign Howard: press CTRL+P keys for chart properties, and on the Symbol tab uncheck the box for Day Session Only -- then chart can show both sessions
17:15 Ensign Howard: ok, let me post my hours and you can compare with yours
17:16 alfa: yes and that is exactly what I have
17:16 Ensign Howard: These settings basically are 24 hour coverage starting on Sunday afternoon through Friday afternoon and the chart will show evening hours
17:18 alfa: I don't know but I have all set up as you showed and still don't shows a night session. ES is set up exactly the same way and shows it alright night session
17:20 Ensign Howard: alfa, are you looking at the chart properties for the chart by pressing CTRL+P keys.
17:21 alfa: yes I did -- symbol prop.window I got from set up then symbol prop.
17:22 Ensign Howard: alfa, that is what I thought, and that is not the same thing
17:22 Ensign Howard: Each chart has a private property for whether the Day Session Only is checked. So you have to look at CTRL+P keys on the chart and its Symbol tab to see if it is checked
17:23 alfa: ok Howard I got it,thanks. One more thing,on the forex server, will I be disconnected from IB by choosing forex server?
17:24 Ensign Howard: no alfa, FXCM and IB work together simultaneously
17:24 alfa: ok thanks a lot
Wave Count, Pesavento Patterns, Gann Fans
17:18 vel: I'm not yet Ensign user. Can Ensign do Elliott Wave counts like AdvancedGET? & How
Gann Geometric angles fan from pivot points eg [P1, P2], any point on bar [H< L< C< M or other] or user defined cursor-placed point[ eg same time level as P2 & same price level as P1}? as in W.D. GANN METHOD OF TRADING A SIMPLIFIED CLEAR APPROACH by Gerald Marisch Windsor Books
17:20 Ensign Howard: vel, Ensign does not count and label the waves like AdvancedGet. We do have tools like the Pesavento Patterns and AutoTrends that can identify the swings. They are not auto labeled with Elliot counts, however.
17:21 Ensign Howard: Let me show you the Pesavento patterns, as an example.
17:23 Ensign Howard: vel, Ensign has good Gann Fan draw tools that can be shown with automatic 1x1 placement or with manual placement of the 1x1 line The other angles you want drawn are then relative to the 1x1 line
17:27 Ensign Howard: Here are two Gann Fans manually put on these swing points and the 1x1 is the heavier blue line and there they intersect is the 2nd point used for both in my manual construction. Gann Fan can also be part of the Gann Square and show lots of gridding
http://www.ensignsoftware.com/help/features.htm#Gann
17:29 Ensign Howard: Scroll down to see the diagonal example too
http://www.ensignsoftware.com/tips/tradingtips12.htm#Using
http://www.ensignsoftware.com/help/gannpercent.htm
17:30 Ensign Howard: You are welcome to download Ensign and give it an evaluation.
17:51 Ensign Howard: vel, you are welcome to participate with the chat communities even if you do not use Ensign Windows. There are lots of great folks here and in other rooms that willingly help each other and post great charts and discuss great ideas.
17:52 vel: Looking to get new computer esp for trading considering Toshiba 17" laptop with 2 duo-core processors [for multitasking speed]; best resolution LCD [for fine print chart reading]; max memory [2Gb], maybe 120 Gb hd; Matrox card for additional monitors if want >1; AVG ? antivirus instead of Norton Utilities Symantec memory-hog hole-y software; Windows Xp Media Center edition to begin possibly eventually Vista Home Premium? How would that do for Ensign . Any thoughts?
Probably that rather Mac w CodeWeavers Crossover Mac to run Windows Apps without having to have Windows [which would eliminate most of your grief if works] or Parallesls to run Mac OS10 & Windows simul or Bootcamp boot Mac up as Windows pc.
http://www.ensignsoftware.com/tips/newsletter.htm
17:54 Ensign Howard: vel, any windows based computer will run well with Ensign. Hard to add a matrox card to a laptop. So if you want more than laptop display with 1 external display, then you should get a desktop so you can add or change the video card to support multiple displays. The memory, hard disk, and clock speeds are all fine.
17:55 dblue: They have external units now Howard
17:56 vel: Thank u.
17:56 Ensign Howard: I use both Norton and McAfee AVG and am inclined to keep the Norton upon renewals and let the McAfee be dropped. However, I do not really have an issue or complaint about either of them. Just that the newest machine came with Norton and so I continued using it.
17:58 dblue: I had CA Internet security suite on this machine, and firewall blocked echat
17:57 Gerard: Howard, I would like to have an opportunity to get in DYO extension and correction numbers from Pesavento Patterns function which are drawn on charts. They are .38, 0.618, 0.5, 1.272 and so on
http://www.ensignsoftware.com/help/dyo.htm#Fibonacci
17:59 Ensign Howard: see this example, and instead of Line A and B getting a Daily High, the values you put in 21 and 22 could be instead the Pesavento Pattern swing prices.
18:00 Ensign Howard: Those swing prices can be directly assigned by the PP on its property form in the 4 global spinner boxes in the middle of the screen. I think the 4 GV boxes will catch the swing prices of the last 4 swing points. Let me do a quick assignment and then look at the Quotes page for Variables to confirm
18:01 Gerard: No, Howard. I need not swing numbers (Price and Bar Index as coordinates). I need corrections and extensions.
18:02 Ensign Howard: That I understand, but you need 2 prices to reference to calc the correction or extension from. So which 2 prices are your base values? Are they going to be the swing prices of the prior PP swing? Example posted used daily High and daily Low for the price range on which to calculate
18:03 Gerard: yes, I can calculate on my own. But the problem is that there is always few variants and Pesavento pattern study draws all appropriate variants
18:05 Ensign Howard: ok, lets invent an example for the sake of discussion
18:05 Ensign Howard: Say the swing High is 1120 and the swing Low is 1100 and you want the 50% correction. In the DYO you would read the swing high value of 1120 and the swing low of 1100, subtract for the range of 20 and multiply by the percent of 0.50 to get an offset of 10 to be subtracted from the High to give level of 1120-10 = 1110
18:06 Gerard: yes. but there are another swings and other highs and lows
18:07 Ensign Howard: ok, so tell me , are you wanting to mark the retracement for the most recent swing
18:08 Gerard: Not only for the most recent swing but for some previous ones too as Pesavento study does. The same for extensions: 1.27,1.68
18:08 Ensign Howard: ok, let me go find a template that does this kind of thing
18:09 Gerard: It is Pesavento Break
18:10 Ensign Howard: This is the Pesavento Retrace template, which you can download from my web site using Internet Services. You can learn from it, and then adapt it to the other levels you seek. This is marking a retrace zone in gray between the .618 and .786 levels and an extension zone from 100% to 1.218 levels in yellow
18:11 Gerard: Pesavento study is able to draw retracements from swings deeper from the past than 4 swings
18:13 Gerard: retracements even are drawn from the highs and lows of previous day
18:12 Ensign Howard: gerard, in the example the retracements are drawn as the DYO comes across the chart from left to right, so at each bar position it is the current bar and the analysis only needs to evaluate for the most recent swing
18:13 Ensign Howard: By the time you get to the right edge of the chart, all swings were considered as they were in the current swing position, though now a swing might be 20 swings back. Discuss the chart you posted please
18:15 Gerard: I am watching the DYO that you published. Value - Next. What is Next?
18:18 Ensign Howard: Value is our notation in the expression for the contents of a Global Variable that is reference by the Read GV index on the form. Next is the Global Variable whose index is the next adjacent number. So if the Read GV shows a 12 then Value is the contents of [12] and Next is the contents of [13] and 3rd is the contents of [14]
18:19 Gerard: Understood, thank you
18:20 Ensign Howard: Gerard, go watch the video on a DYO for Pivots and Levels. This is on the Video page as #34.. It will be 34 minutes of good training on topic for you
http://www.ensignsoftware.com/video/videos.htm
18:21 Gerard: Ok, I can calculate all numbers continuously in DYO and then decide in ESPL program what to do with them. Is it your idea?
18:22 Ensign Howard: gerard, you probably would not need to use any ESPL -- do it all in the DYO
18:30 Gerard: Howard, I want to use retracement numbers as a part of filter for trading system in ESPL code. And Pesavento study chooses numbers very successful. I want to filter my system's signals buy/sell if they do not match with retracement number by some way
18:31 Ensign Howard: gerard, values you put in GVs by the DYO can be read by the ESPL program you have
18:32 Gerard: I know it and I use it. The problem is that it would be difficult to choose numbers from the list as the Pesavento study does. Pesavento study ignores most of numbers and shows best only. But the algorithm is unknown
18:38 Ensign Howard: gerard, the PP study is quite clever, but the basic principle is when in an uptrend, new higher highs are remembered and the swing stays in the uptrend until a retracement exceeds the minimum bar count parameter from the last swing point AND the retrace distance exceeds the Min Size parameter.
18:39 Ensign Howard: When the count is exceeded and the size is exceeded then the direction reverses to a down trend and new lower lows are remembered as we find the low swing price bar.
18:39 Gerard: I understand all with swings. But I want to get retracement numbers. All current set of numbers are filtered by some way and the best are drawn only.
18:41 Ensign Howard: gerard, you have to calculate the retracement values by working with the swing point prices
17:49 Ensign Howard: ok, thanks for attending class today, and enjoy the Jan newsletter and buffy's article on being a successful trader in 2007
17:49 Ensign Howard: Have a good week. Bye
17:49 dblue: night Howard.. thanks -- Buffy2: night Howard -- MakesOwnWeather: Thank you Ensign Howard.
17:50 Ensign Howard: welcome
17:51 vel: Thank u all - vel: Thanks Howard -- skg: thank you Howard