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Direct MessagesDate/Time: Tue, 30 Apr 2024 00:09:20 +0000
[User Discussion] - Differences in SC's version of Bill Williams Fractals Study
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| [2021-09-20 21:35:01] |
| User68474 - Posts: 195 |
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SC's study for Bill Williams Fractals seems to render far FEWER fractals with what appears to be many obvious omissions relative to the legacy definitions. This is NOT a complaint, for I know how brilliant and efficient SC engineers are. I find it a pleasure using their version of the study, for it seems that perhaps they have introduced some kind of FILTER that has been VERY effective. I'd just like to know: 1.) Does anyone else out there feel the same, or maybe at least recognize the filtering effect? and, 2.) Do SC engineers have any comment that would explain the difference in their interpretation of what seems to be (after all these years)the otherwise universal definition of "fractal" a'la Williams' "Trading Chaos" etc.?
Date Time Of Last Edit: 2021-09-20 21:36:13
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| [2021-09-21 00:27:00] |
| John - SC Support - Posts: 31189 |
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You will find all the math that describes how we coded the study at the following link: Bill Williams Fractal Signals There is nothing else being done in the study other than what is specified in the documentation. For the most reliable, advanced, and zero cost futures order routing, use the Teton service: Sierra Chart Teton Futures Order Routing |
| [2021-09-21 05:08:32] |
| User68474 - Posts: 195 |
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Thanks, John. I've seen and contemplated that/your link with the "math" many,many, many times. As I stated, I MUCH prefer what you've brilliantly done with this "math". I remain amazed that certain (if not all) of the other platforms, which purportedly use the same formulae (esp. MP5 and Tradestation, which Williams himself lent/sold/sanctioned his own softwear to and refers to way back in the 2004 Second Edition of "Trading Chaos"), all seem, by comparison with SC, to signal many more(and way too many!) of the obvious "high/low of the past five bars as long as preceding and following two bars are lower/higher" prerequisite-type fractals. I'll repeat. SC seems to filter out MANY fractals(by legacy definition). Thank you for whatever you've done, for it is MOST effective, not only in trending markets, but also in breakouts.
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| [2021-09-22 05:23:32] |
| User68474 - Posts: 195 |
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John,(and anyone else who might be interested)....what should have been obvious to me many times before, but somehow evaded my scrutiny, has become apparent after, once again, going back to Bill Williams' "Trading Chaos, 2nd Edition" and rereading. I copy, quote and paste: " The working definition is repeated here for emphasis: A Fractal must have two preceding and two following bars with lower highs (higher lows in a down move). In a buy Fractal, we are interested only in the bars’ high. In a sell Fractal, we are interested only in the bars’ low." I see that the SC "math" seems to show considerations/conditions/paramaters/logic for the bars' LOWS in the case of BUY Fractals (Case 1, which does NOT seem to be part of the Williams' definition), BUT, for the SELL Fractal Signals, does NOT in any "case", esp. Case 1, "symmetrically"/conversely concern itself with bars' high in DOWN Fractals (which, again by Williams' definition, IS the "correct" way, i.e. NOT considering the highs.) So I see an inconsistency here, the SC BUY Fractal conditions/logic being incorrect(compared to William' Legacy logic), yet the SC SELL Fractal logic seems to be correct, coinciding with and following that Legacy logic. That would perhaps explain the discrepancies I (and perhaps others) have seen over the years in the outright greater numbers of Fractals "painted" on other platforms as compared to SC. I wish it were not the case, as I have said, I prefer the seeming "filtering effect" of SC's version. Maybe if you add the converse consideration of Highs in the SELL Fractals(blasphemously disregarding Williams' Legacy Logic to be "consistent"), we/you could render an even more efficient tool for filtering out "misleading" Fractals! Date Time Of Last Edit: 2021-09-22 05:46:23
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