Harmonic Trading - page 353
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What is the difference between zup135all, zup135all HL and zup135all113? I see all these different variations in the attachments.
What is the difference between zup135all, zup135all HL and zup135all113? I see all these different variations in the attachments.
If you read the posts where the different versions are attached all is explained. Although it would be nice if all new versions where added to the first post of this thread with explanations about the changes and an up dated user manual.
Then anyone new coming to the thread would not have to ask the same questions
So, far 15 min, I would have to do the same 55*4 as in your example to capture 15, 30 and 60, correct? If so, that would put Maxdepth at 220, which is too high for cpu/ram, right? So, am I correct that although zup has the capability for mtf, we need to wait for your modification to the code in order to try this so that the maxdepth can be safely increased?
I've made code run time improvements in new version. This value now can be safely increased to very high values like 500, 600 or even more.
The bearish crab I posted above was invalidated. I have seen about 4 patterns today, and all 4 were later invalidated.
Invalidation Rules
If price exceeds the D Box Area, pattern will be invalided
market price has been exceeded the D Box min value, and pattern has been invalidated. (with deviation %5) Indicator deleted the drawn pattern.
If a new zig zag leg forms in current found pattern zigzag depth, pattern will be invalidated
Our first rule: Indicator searches patterns on last current leg only.
If zigzag makes a new leg, which would be in the direction of our detected pattern (bullish pattern = new leg UP, bearish pattern = new leg Down) indicator will delete the founded pattern since our first rule forces the indicator to do that.
In my opinion and my trading style with Harmonics, when a new leg forms, all probabilities are reformed also. I take that opportunity to close the trade & take profit.
This new leg formation depends on time frame and the found pattern zigzag depth. In a high zigzag depth, it would take lot of bars for indicator to draw a new zigzag leg, low time frames and a low zigzag depth, it would take less bars for indicator to draw a new zigzag leg.
This is quite logical, since you can't expect a 500-100 pips rally in 5,15 or 1 hour time frames.
He is saying that with G's version of zup113 it says the pattern is invalidated. Yes, it still shows up with your zup135.
ZUP works well but invalidated without reason
UsdChf H4 First Chart
UsdChf H4 Second Chart
What makes this difference? Same pair, same time frame & same indicator? One shows nothing second shows the pattern? Why?
extern double FibonacciDeviation = 0.05;
extern double LegLengthDeviation = 0.05;
extern double TimeDeviation = 0.10;
The default setting of fibonacci deviation is 0.05 = %5 in zup_v113wsv43
Let's increase just 0.01 point and make it 0.06 = %6
Magically, indicator draws bullish crab pattern that as been invalidated in default one.
Okay, don't stop and increase one more time and make it 0.07 = %7
Our new chart now looks like
There's a direct correlation between deviation & D Box min & max price . When Deviation increases, D Box Area also increases. (but reliability decreases)
Now zup135 default deviations
extern double ExtDeltaGartley = 0.09;
extern double ExtDeltaStrongGartley = 0.07;
In other words, the difference comes from the default setting used for fibonacci deviations. One uses %5 other uses %7-9.
That is all.
If you want you can work with a value of %10 or %20 fib deviation, I can assure you will see many patterns detected but will you really take that trades?
Why do I use maximum %5 ? Because statistics is a science just like mathematics and what statistics says for deviations?
Do not use a deviation value more than %5 , since reliability decreases geometrically.
Personally, I never use a value more than %5 in live trading, but if you want you can use 6 or 7 but this should be the maximum value.
Doesn't that new leg up actually confirm the pattern as opposed to invalidate it? In other words, the new zigzag would denote a reversal, with it now heading to the target line for the particular harmonic pattern, wouldn't it?
Doesn't that new leg up actually confirm the pattern as opposed to invalidate it? In other words, the new zigzag would denote a reversal, with it now heading to the target line for the particular harmonic pattern, wouldn't it?
Depends on personal trading style. For me, new born leg is a new tabula rasa , a new world of new possibilities so I usually quit the trade and take profit. Don't worry it would take lot of bars (= lots of pips) to form a new zigzag leg in high time frames.
For someone else, it's a confirmation, so he can keep the trade.
May be I can change the alert type:
Price exceeds D box = Pattern Invalidated
New leg formed = New leg has been formed. Reversal Confirmed !
But in any case, indicator will delete the found pattern
Please share your opinion.
Depends on personal trading style. For me, new born leg is a new tabula rasa , a new world of new possibilities so I usually quit the trade and take profit. Don't worry it would take lot of bars (= lots of pips) to form a new zigzag leg in high time frames.
For someone else, it's a confirmation, so he can keep the trade.
May be I can change the alert type:
Price exceeds D box = Pattern Invalidated
New leg formed = New leg has been formed. Reversal Confirmed !
But in any case, indicator will delete the found pattern
Please share your opinion.If the new leg is a correction leg showing that D box was a valid and correct EP then why delete the pattern, because the pattern itself is a visual reference of where your TP's might be placed.
I would like to see the opposite, based on statistical data would it not be possible for ZUP to draw a projection leg of where price should go following a correction from D box (a target zone) based on time and the construction of the legs that formed the pattern.
Depends on personal trading style. For me, new born leg is a new tabula rasa , a new world of new possibilities so I usually quit the trade and take profit. Don't worry it would take lot of bars (= lots of pips) to form a new zigzag leg in high time frames.
For someone else, it's a confirmation, so he can keep the trade.
May be I can change the alert type:
Price exceeds D box = Pattern Invalidated
New leg formed = New leg has been formed. Reversal Confirmed !
But in any case, indicator will delete the found pattern
Please share your opinion.I agree 100%. Alert left unchanged. Real trading zup version should be simple and include a display pattern only when the precise position of the entry in the red box and nothing more.
All other things such as:
-price exceeds D box = Pattern Invalidated
-new leg formed = new leg has been formed. Reversal Confirmed!
-or leave the pattern after leaving the red rectangle
you can do in a second parallel version for statistical purposes (if anyone is interested), but not to the real trading.
The second parallel version should be able to view the history of patterns.
That is my opinion
I think there should definitely be a different alert for a new zigzag confirming a reversal than when a pattern failed and is invalidated for exceeding the D box. In one scenario, the pattern worked, and the other it failed.
I also agree that having target projections and TP areas designated for the particular pattern makes sense. Again, leaving the pattern displayed with those tp areas showing would allow us to more easily determine which patterns are working.
While I think visually displaying would be preferred, alternatively, and maybe zup does this already and I just don't know the settings, you could create a history/log file which gives the date when the pattern was found, and projected targets/tp levels along with the information you presently provide in the email alert. That way, we would have a record making it easy to see which patterns are working and which ones are failing.