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Hi guys,
I have this John Murphy CPR add-on
I cannot use it properly, Whenever i explore i find very less results in 2k+ scrips.
There are charts which have clear head and shoulders pattern but it doesn't find it in explore?
How to use it properly pls help!
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Rank: Advanced Member
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Joined: 10/29/2004(UTC)
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Location: Glastonbury, CT
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The default cpr add-on patterns are set to use zig zag functions, You can code them to use linear regression or Moving Averages
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Rank:: Advanced Member
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henry1224 wrote:The default cpr add-on patterns are set to use zig zag functions, You can code them to use linear regression or Moving Averages
Hi stock, [:)]
... or you can use Ref( {formula}, -1) in Explorer to catch the very first bar AFTER the reversal.
Or, better than anything else, forget about John Murphy's CPR completely. In technical analysis you never look at Head-&-Shoulders forming, with you downloading data for 4-7 months day by day, and then you go short.
You never do that because you have hundreds of many other good things to do during those 4-7 months.
Can you explain how you trade H&Ss?
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Rank: Advanced Member
Groups: Registered, Registered Users, Subscribers
Joined: 10/29/2004(UTC)
Posts: 1,394
Location: Glastonbury, CT
Was thanked: 2 time(s) in 2 post(s)
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Dear Eddie, If you had actually coded the CPR add-on to use Linear regression instead of Zig Zag functions, you would have noticed that Linear regression fires off more signals. I don't recommend or will I give recommendations as to the use of Chart Patterns in TA! I'm just answering a question about this add-on.
As for using ref(X,-1) to get a signal earlier, you are sadly mistaken as to the use of this function!
If you have a system that gives you a +1,-1,else 0 system, When the system first fires off a +1 signal
Ref(X,-1) will show up as a 0 in the explorer.
the correct code would be Ref(X,-1)<1 and X=1
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Rank:: Advanced Member
Groups: Registered, Registered Users
Joined: 1/20/2012(UTC)
Posts: 152
Was thanked: 1 time(s) in 1 post(s)
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henry1224 wrote:the correct code would be Ref(X,-1)<1 and X=1
That's what I meant ... [:D] but I passed through a momentary brain thinking / hand typing non-coordination.
Thanks for pointing the mistake out. I believe the author of the thread would have realized the mistake too when he tried the formula and sees it does not work for him.
Henry, watch me and please correct me. [:D] This is what friends are for ... [:D]
Zigzag is the only Indicator that re-arranges itself in the past. It gives fantastic backtest results, making the beginner believe he found the Holy Grail, but it produces disastrous effect on the trader’s capital.
I used Zigzag only for short-term trading with excellent profits some years ago. I also used ‘trough’ and ‘peak’ functions in my explorations in the past, which include Zigzag.
The book about Zigzag is here:
http://www.amazon.com/Filtered-Waves-Basic-Theory-Analysis/dp/0911894365/ref=sr_1_1?s=books&ie=UTF8&qid=1364527663&sr=1-1&keywords=filtered+waves
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