New Intermed Uptrend!!
- Thread starter Saint
- Start date
- Status
download bill williams - trading chaos & go directly to pg 133
thnks for reminding, i am goin to read it again today.
THE FRACTAL PATTERN
The fractal pattern is a simple one. The market makes a move in one direction or the other.
DIRECTLY TAKEN FROM BILL WILLIAMS BOOK...it is a complex subject which require very deep study.concentrate on saints pivots. its much easy.
so how do i find my pivots & fractals on the same chart...very easy to do in metastock.i am attaching the chart of acc created with metastock expert.
blue line - intermediate pivot high
red line - intermediate pivot low
black dots - up & down fractals
yellow line - trend line indicating an ascending triangle.
the trend is very clear once u put the pivots & fractals in place.
pls correct me if im wrong.....
ashish 'da is going to shoot me down
thnks for reminding, i am goin to read it again today.
THE FRACTAL PATTERN
The fractal pattern is a simple one. The market makes a move in one direction or the other.
DIRECTLY TAKEN FROM BILL WILLIAMS BOOK...it is a complex subject which require very deep study.concentrate on saints pivots. its much easy.
so how do i find my pivots & fractals on the same chart...very easy to do in metastock.i am attaching the chart of acc created with metastock expert.
blue line - intermediate pivot high
red line - intermediate pivot low
black dots - up & down fractals
yellow line - trend line indicating an ascending triangle.
the trend is very clear once u put the pivots & fractals in place.
pls correct me if im wrong.....
ashish 'da is going to shoot me down
Is it possible that Fractal Up/Dn may be exactly the same as Pivot High/Low as (according to Saint) Pivot is actually a range, which incidently includes the Fractals.
Thanks
Nandini
download bill williams - trading chaos & go directly to pg 133
thnks for reminding, i am goin to read it again today.
THE FRACTAL PATTERN
The fractal pattern is a simple one. The market makes a move in one direction or the other.
After a period of time, all the willing buyer, have bought (on an up move) and the market falls back because of a lack of buyers. Then some new incoming information (Chaos) begins to affect the traders. There is an influx of new buying, and the market, finding that place of equal disagreement on value and agreement on price, moves up. If the momentum and the
buyers' strength are strong enough to exceed the immediately preceding up fractal, we would place an order to buy one tick over the high of the fractal.
The technical definition of a fractal is: a series of a minimum of five consecutive bars where the highest high is preceded by two lower highs and is followed by two lower highs.
One way to visualize this is to hold your hand outstretched in front of you with your fingers spread and your middle finger pointing up.
Your fingers are your five consecutive bars, and your middle finger is the highest, creating a fractal formation. In an up fractal, we are interested only in the bars' high, and in a down fractal, we are interested only in the bars' low.
It is important to note the following restrictions:
1. If the current bars' high is the same height as the middle or high bar, it does not count as one of the five bars necessary to form a fractal. For a buy fractal, you must have a high that is
preceded by two lower highs and followed by two lower highs. For a sell fractal, you must have a low that is preceded by two higher lows and followed by two higher lows.
2. Up and down fractals may share bars. The same bar can be part of both an up and a down fractal.
DIRECTLY TAKEN FROM BILL WILLIAMS BOOK...it is a complex subject which require very deep study.concentrate on saints pivots. its much easy.
so how do i find my pivots & fractals on the same chart...very easy to do in metastock.i am attaching the chart of acc created with metastock expert.
blue line - intermediate pivot high
red line - intermediate pivot low
black dots - up & down fractals
yellow line - trend line indicating an ascending triangle.
the trend is very clear once u put the pivots & fractals in place.
pls correct me if im wrong.....
ashish 'da is going to shoot me down
thnks for reminding, i am goin to read it again today.
THE FRACTAL PATTERN
The fractal pattern is a simple one. The market makes a move in one direction or the other.
After a period of time, all the willing buyer, have bought (on an up move) and the market falls back because of a lack of buyers. Then some new incoming information (Chaos) begins to affect the traders. There is an influx of new buying, and the market, finding that place of equal disagreement on value and agreement on price, moves up. If the momentum and the
buyers' strength are strong enough to exceed the immediately preceding up fractal, we would place an order to buy one tick over the high of the fractal.
The technical definition of a fractal is: a series of a minimum of five consecutive bars where the highest high is preceded by two lower highs and is followed by two lower highs.
One way to visualize this is to hold your hand outstretched in front of you with your fingers spread and your middle finger pointing up.
Your fingers are your five consecutive bars, and your middle finger is the highest, creating a fractal formation. In an up fractal, we are interested only in the bars' high, and in a down fractal, we are interested only in the bars' low.
It is important to note the following restrictions:
1. If the current bars' high is the same height as the middle or high bar, it does not count as one of the five bars necessary to form a fractal. For a buy fractal, you must have a high that is
preceded by two lower highs and followed by two lower highs. For a sell fractal, you must have a low that is preceded by two higher lows and followed by two higher lows.
2. Up and down fractals may share bars. The same bar can be part of both an up and a down fractal.
DIRECTLY TAKEN FROM BILL WILLIAMS BOOK...it is a complex subject which require very deep study.concentrate on saints pivots. its much easy.
so how do i find my pivots & fractals on the same chart...very easy to do in metastock.i am attaching the chart of acc created with metastock expert.
blue line - intermediate pivot high
red line - intermediate pivot low
black dots - up & down fractals
yellow line - trend line indicating an ascending triangle.
the trend is very clear once u put the pivots & fractals in place.
pls correct me if im wrong.....
ashish 'da is going to shoot me down
Thanks VVVV for teh explaination ...yes Saint's pivots are much easier to follow n use.... but interesting to know about fractals ...thanks once again for teaching something new.
Adding to the above :-
They are forms or structures, which look the same on different scales.
Mkts can be considered fractal in nature as price behaviors on different time frames appear similar. Looking at price charts it is difficult to say of what scale are data day or week.
However the above is only a simplified definition To know more visit
http://en.wikipedia.org/wiki/Fractal
Another article on the Fractal structure of financial mkts (from a probability distribution perspective)
http://www.economymodels.com/factalmarkets.asp
Regards,
Kalyan.
They are forms or structures, which look the same on different scales.
Mkts can be considered fractal in nature as price behaviors on different time frames appear similar. Looking at price charts it is difficult to say of what scale are data day or week.
However the above is only a simplified definition To know more visit
http://en.wikipedia.org/wiki/Fractal
Another article on the Fractal structure of financial mkts (from a probability distribution perspective)
http://www.economymodels.com/factalmarkets.asp
Regards,
Kalyan.
Bill Williams' (so-called) Fractal & chaos based system is far removed from actual Fractal & Chaos theory. However going by his loose, non-mathematical definitions/assumptions
i) The 5-bar pivot pattern is a fractal (in which case the Bar can be considered as the Fractal dimension - although that is not mentioned anywhere in his book)
ii) The Elliott Wave is a fractal (assuming this is true then it'd be a fractal of quasi-self-similarity as EWs at all scales/tfs are not exactly alike)
A synopis of Bill Williams' system
http://www.alpari-idc.ru/en/chaos/
For Bill Williams' book 'Trading Chaos' go to 4_shared.com (remove hyphen) & search Bill Williams.
If you have knowledge of MAs & MACD (apart from Saint's method) you'll soon realize that this is nothing but old-wine-in-new-bottle.
Regards,
Kalyan.
i) The 5-bar pivot pattern is a fractal (in which case the Bar can be considered as the Fractal dimension - although that is not mentioned anywhere in his book)
ii) The Elliott Wave is a fractal (assuming this is true then it'd be a fractal of quasi-self-similarity as EWs at all scales/tfs are not exactly alike)
A synopis of Bill Williams' system
http://www.alpari-idc.ru/en/chaos/
For Bill Williams' book 'Trading Chaos' go to 4_shared.com (remove hyphen) & search Bill Williams.
If you have knowledge of MAs & MACD (apart from Saint's method) you'll soon realize that this is nothing but old-wine-in-new-bottle.
Regards,
Kalyan.
V
thnks for the info, but then do we really care wht bill williams thinks abt fractals or the aligator.i dont trade on the gator but when i put the gator on the chart i cum to know at least sumthing abt the chaos of the market.also his 5 bar method , SL technique, AO,AC is a gud thing to now abt.even his MFI is a gud indicator abt wht is happening in the market also.let us not delve in fractal research or whether he is right or wrong.we can take sum positives from his system & throw out the rest into the dustbin.MA's & MACD also will give the same result maybe.thts why i put on the expert in metastock which does the job of analysing stuff on auto.no time wasting,nothin....also he talks abt the method of finding elliot waves..then he talks abt science,brain,& all the high funda stuff which i havent read in his book..most of his book is actually boring.take the positives & throw out the rest of the rubbish.maybe after a few mnths when i improve further on my trading hopefully, i may discard his whole system & throw it out.i want my bank balance to go up & there are easier tested methods available.thts the way how i view it,doesnt mean im correct
- Status
Similar threads
-
-
-
-
Swing Trading Stock Pick - Dabur India - Beginning of a New Intermediate Uptrend
- Started by Traderji
- Replies: 14
-