Rank: Member
Groups: Registered, Registered Users, Subscribers Joined: 9/7/2013(UTC) Posts: 17
Thanks: 5 times
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hi all,
need help
say I have this volume histogram that can accumulate volume based on reversal amount...how do I tie it to the PnF chart so that that the up and down volume corresponds to the PnF Xs and Os?
e.g.
PnF Box size - 0.10, reversal - 2
Volume histogram - reversal 0.20
(both are based on Close)
Technically this should be it right...but some of the volume histogram doesn't 'tie' with the PnF Xs/Os...
What did I do wrongly?
thanks. Joseph
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Rank: Member
Groups: Registered, Registered Users, Subscribers Joined: 9/7/2013(UTC) Posts: 17
Thanks: 5 times
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the volume histogram formula
{Zig-Based Volume Histogram}
{Roy Larsen, 30/7/12}
N:=Input("ZigZag minimum reversal amount",.001,100000,5);
A:=Zig(C,N,$);
B:=Ref(A,-1)>A AND Ref(A,1)>A OR
A>Ref(A,-1) AND A>Ref(A,1);
X:=A>ValueWhen(2,1,A); Z:=Cum(1);
{Calculate/plot frame Volume}
D:=BarsSince(Ref(B,-1)+(Z=1))+1;
ExtFml("Forum.Sum",V,D)*X;
ExtFml("Forum.Sum",V,D)*(X=0);
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Rank: Advanced Member
Groups: Moderators, Registered, Registered Users, Subscribers Joined: 10/8/2010(UTC) Posts: 1,960
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Hi,
I'm not sure if this explanation will be adequate, but when you have an indicator that is calculating over a number of periods and you essentially 'convert' this to a P&F chart, MetaStock will take the average value of this indicator to be displayed at that point in the chart. For example, if you were to look at your indicator above on a Daily chart, you would take the average value of this indicator over the span of time that makes up that column of data in the P&F chart and this would be the value you should see for this indicator in a P&F chart.
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Rank: Member
Groups: Registered, Registered Users, Subscribers Joined: 9/7/2013(UTC) Posts: 17
Thanks: 5 times
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hi,
do you mind to elaborate further...I m comparing (a) zig zag price wave + cumulative wave per zig zag with (b) P&F with volume
I m just thinking should each up/down zig ( with the corresponding volume) match perfectly with the PnF (with the corresponding volume) if both are using the same reversal amount?
If daily chart is using 'average', pnf should be using 'average' too right....
would you be able to provide some examples to explain this..i m really interested to get to the bottom of this
thanks...
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Rank: Advanced Member
Groups: Moderators, Registered, Registered Users, Subscribers Joined: 10/8/2010(UTC) Posts: 1,960
Thanks: 92 times Was thanked: 155 time(s) in 150 post(s)
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There is a difference in how the base security is treated and indicators are treated. Consider that a point and figure "column" is made up of several underlying data points that span a certain amount of time (based on box size / reversal). A moving average would have a 'value' over each one of those individual data points, how would you take all of those individual values and plot them on a single column? So the 'average' value is taken and displayed for that P&F column which is different than what you are looking for (you are looking for a more additive/cumulative value not an average).
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Rank: Member
Groups: Registered, Registered Users, Subscribers Joined: 9/7/2013(UTC) Posts: 17
Thanks: 5 times
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ok thanks.
so, is there a way to plot either cumulative volume or net up/down volume per the PnF columns? (or any kind of volume) Or is it not possible at all in MS?
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Rank: Advanced Member
Groups: Moderators, Registered, Registered Users, Subscribers Joined: 10/8/2010(UTC) Posts: 1,960
Thanks: 92 times Was thanked: 155 time(s) in 150 post(s)
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The 'base security' volume is a sum of the volume for that column, but any sort of formula-based (i.e. custom indicator) representation is going to be an average so it would not be possible within MetaStock at this time.
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