Monday, November 26, 2007

This time I'm going to make you work a bit...

Yes, i thought it would be a good idea to suggest that some of you, users on this TS-T-T, who are comfortable with EasyLanguage to work on a possible interesting addition to the ToolSet.

Two short articles were posted recently to explain how to retrieve pivot calculations from the DLL memory: API Part 1 and API Part 2. Pivot prices and indices (number of bars backs from current bar) can indeed be easily loaded in EasyLanguage arrays, and used to detect interesting patterns. RetrievePivotInfo for instance calculates Fibonacci levels automatically based on specific criteria for the inital swing leg.

There are at least 2 directions which would be interesting to explore at this junction. One is the search for harmonic patterns such as described on HarmonicTrader.com (you may want to google it up for more details). Those patterns are not frequent, but are very reliable. The existing Fib code in RetrievePivotInfo should give you pointers.

The other direction is the (esoteric) Gann's Square of Nine. WD Gann published numerous books and courses but quite intelligently remained very secretive about the core of his technique, explaining part of his following to this day, over 50 years after his death. I am admittedly no Gann expert, but it is certainly worth investigating. After all Murrey Math lines are also "Gann derivatives" and prove to be often correct.

I here provide a Square of Nine spreadsheet, which contains simple formulas to check whether pivot prices or dates fall on the Cardinal or Ordinal Crosses.

Thanks in advance for your contributions always most welcome.

bv