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Direct MessagesDate/Time: Mon, 06 May 2024 23:57:02 +0000
Zig-Zag Study Charting and Tot. Vol. Error/Anomaly
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| [2017-04-11 03:27:09] |
| User68474 - Posts: 195 |
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On a basic 5 minute chart of the ESM7, Continuous Date Rule Rollover, Back Adjusted, I have a basic Zig-Zag Study (see attached image) calculation mode 3, input for High/Low =Last/Reversal amount =.749. My contention is that the legs and therefore the Total Accumulated Volume per leg are not being charted and calculated correctly. Case in point pointed out on copy of chart concerns bars at 10:55/11:00/11:05 EDT today, Monday April 10, 2017. The down leg, which begins correctly at 10:35 a.m., ends, as charted (incorrectly in my opinion) on the 10:55 a.m. bar (last = 2358.75), and, because the next two bars also close at 2358.75, the leg should shift over those two bars to the last/close of the 11:05 bar (Total Volume for the seven bars composing that down leg should print 86.2K ). The next bar (11:10 a.m.) is an up bar (last = 2360.00), and that one bar (volume 11458) comprises the next up leg, as price falls from there starting a new down leg. http://www.sierrachart.com/image.php?Image=1491880816769.png |
| [2017-04-11 04:32:04] |
| User68474 - Posts: 195 |
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I just found another similar error on the same chart at the up leg beginning at the 14:25:00 bar. The last leg should end with the 15:00:00 bar (close/last = 2358.75), NOT at the 14:45:00 bar (last/close also 2358.75). Once again, as my yellow arrow indicates, the up leg should shift/move over to the similar last/close of the 15:00:00 bar before turning down. Also, once again, as noted on the image, that would change/increase the Total Accumulated Volume on both that up leg, as well as decrease the Tot. Acc. Vol. on the subsequent down wave. http://www.sierrachart.com/image.php?Image=1491884476808.png Date Time Of Last Edit: 2017-04-11 04:36:01
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| [2017-04-11 17:16:20] |
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First, the chart images are way too complicated and confusing and not useful to us. The way that the Zig Zag study works is that the endpoint of the Zig Zag line will be at the first chart bar that meets the condition for extending it. It will not move forward from that point unless there is a new low or high or a reversal. There is a reason why it is designed this way. Sierra Chart Support - Engineering Level Your definitive source for support. Other responses are from users. Try to keep your questions brief and to the point. Be aware of support policy: https://www.sierrachart.com/index.php?l=PostingInformation.php#GeneralInformation For the most reliable, advanced, and zero cost futures order routing, *change* to the Teton service: Sierra Chart Teton Futures Order Routing |
| [2017-04-11 18:30:55] |
| User68474 - Posts: 195 |
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First, I believe you did a most honorable job of "lifting the veil" of any haze caused by "complicated and confusing" charts. I believe you understand my question quite well, as now I understand why the "error/anomaly" is omnipresent in my charts. 2. As for "understanding" why "There is a reason why it is designed this way", that is a whole other issue, unfortunately. If "it is designed that way" because of some technical limitations or the amount of effort vs. utility/efficiency required, I would not know, for I am not a programmer. 3. However, if it is for some "philosophy" of technical analysis, I'd like to know what that would be? For many traders wishing to use any sort of volume analysis based upon Wyckoff/a'la David Weis (Wave-all credit where credit is due), the Zig-Zag function is not to just see levels/prices where the possible support and resistance lines begin and end. The Total Volume of each leg/wave is really the crux of the whole issue. Price and Volume (as well as Time (i.e. "Duration", another subject, the accuracy of which you fixed after a discussion not unlike this which we had a few years ago and for which I will forever be most grateful) are equally as important in the "mix" of incoming data. 4. Those "missing" bars, with their associated Volume values, that are "displaced" by your method throw the whole calculus into disarray by considering any subsequent same "last"/closing priced bar(s) which occur(s) after the "first chart bar that meets the condition for extending it" as part of any new reversal leg, reducing the amount of Accumulated Total Volume of the original leg/wave under discussion, and thus erroneously and misleadingly including them in and increasing the Total Volume Accumulated of the subsequent reversal leg/wave. The "philosophy" or concept here, at least what I'm advocating, is that a leg/wave SHOULD include those bars which may accumulate after the so called "first bar" if they have the same last/closing price and that a reversal condition is not met until a reversal condition occurs after the LAST of the bars with same last/close. 5. Certainly I hope you would take this now quite popular and well accepted "philosophy" into consideration. |
| [2017-04-13 22:41:45] |
| User68474 - Posts: 195 |
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Shall I assume you have no comments either about my last follow-up post or in general concerning this discussion? If so, if I hire a third party consultant, do you imagine that they would they be able, given "your" design as it now stands,to make the adjustments according to these more popularly accepted practices/parameters which I wish to conform to? |
| [2017-04-14 10:39:28] |
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We are only willing to make a change, if it can be done without any consequence. We are working on this now and we will see what happens.
Sierra Chart Support - Engineering Level Your definitive source for support. Other responses are from users. Try to keep your questions brief and to the point. Be aware of support policy: https://www.sierrachart.com/index.php?l=PostingInformation.php#GeneralInformation For the most reliable, advanced, and zero cost futures order routing, *change* to the Teton service: Sierra Chart Teton Futures Order Routing |
| [2017-04-15 00:08:04] |
| User68474 - Posts: 195 |
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Your response was most reasonable and much appreciated. Very much so. Thank you. I assume that any notes in "What's New" in future upgrade releases would make mention of modifications to Zig-Zag beginning/end conditions and the associated accumulated total volume and duration. |
| [2017-04-15 01:00:08] |
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The change has already been released in version 1544. You can update now. Sierra Chart Support - Engineering Level Your definitive source for support. Other responses are from users. Try to keep your questions brief and to the point. Be aware of support policy: https://www.sierrachart.com/index.php?l=PostingInformation.php#GeneralInformation For the most reliable, advanced, and zero cost futures order routing, *change* to the Teton service: Sierra Chart Teton Futures Order Routing |
| [2017-04-15 05:18:38] |
| User68474 - Posts: 195 |
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Wonderful. Looks great! Your communication and response was/is superb. Obviously all humans feel happy when something benefits us directly, but I hope all, even those not interested in the subject matter (i.e. Zig-Zag conditions)can appreciate your efforts. I know that I will always keep that in mind when I have issues and need to contact Support.
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| [2017-04-24 18:20:18] |
| User68474 - Posts: 195 |
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I've just, unfortunately, found instances of the anomalies in the Zig-Zag charting that appear to have reverted back to the previous problems. Were you forced to revert after the slew of "Errors" and "Warnings" for Custom Studies after the upgrade to 1544? Hope not, because it was "lookin' real good" before, or so I thought. Screen shot of this a.m. (Mon 4/24/2017) on a ES 5 min. chart with Zig-Zag Mode 3/Input "Last"/Reversal= 3 ticks or more. http://www.sierrachart.com/image.php?Image=1493057211228.png Date Time Of Last Edit: 2017-04-24 18:21:23
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| [2017-04-24 18:37:08] |
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Update to the latest prerelease with Help >> Download Prerelease and test again.
Sierra Chart Support - Engineering Level Your definitive source for support. Other responses are from users. Try to keep your questions brief and to the point. Be aware of support policy: https://www.sierrachart.com/index.php?l=PostingInformation.php#GeneralInformation For the most reliable, advanced, and zero cost futures order routing, *change* to the Teton service: Sierra Chart Teton Futures Order Routing |
| [2017-04-24 19:12:35] |
| User68474 - Posts: 195 |
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Looking REAL good, once again. TY much.
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