W D Gann's Stock vibrations and market structure

10% Vibration

Edited by cmacdon - 23 Aug 2014 at 8:43am

10% Vibration

Edited by cmacdon - 23 Aug 2014 at 8:44am

{Cmacdon note: Step I- Work out what is the market structure definition your are happy to work with. }

[Description="Cmacdon For this example, I adapted a different indicator, to use as the market structure engine and applied it to W D Gann's Bull and Bear campaign DJIA analysis see previous case study posts"]

[target=price; Visible=True]

[target=Price]
Vib:=input("Vibration", 4, .001, 100);
z:=Zig(If(Outside() AND Ref(H,-1)>Ref(H,-2),H,If(Outside() AND Ref(L,-1)<Ref(L,-2),L,If((Outside() OR Inside()) AND C>O,H,If((Outside() OR Inside()) AND O>C,L,If(H>Ref(H,-1),H,If(L<Ref(L,-1),L,If(Ref(H,-1)>Ref(H,-2),H,If(Ref(L,-1)<Ref(L,-2),L,C)))))))),Vib,%);
ispeak := z>hist(z,1) and z>future(z,1);
istrough := z<hist(z,1) and z<future(z,1);

[linestyle=Solid; color=Red]
z;

Upfractal:=If(ispeak, H*1.001,undefined);
Downfractal:=If(istrough{L<ref(L,1) and L<ref(L,-1)}, L*0.999,undefined);

{Text for interpreting market structure showing positive Blue structure Higher Highs(HH)and higher lows (ll), and negative structure, Lower Lows (LL), and lower highs (lh)}

[name=HH; linestyle=Text;fontsize=8; textalign=Above,Centre; color=Blue;]
if(Upfractal>Valuewhen(2,Upfractal,upfractal), + "HH ", +"");
Upfractal*1.001;

[name=lh; linestyle=Text;fontsize=8; textalign=Above,Centre; color=Red;]
if(Upfractal>Valuewhen(2,Upfractal,upfractal), + "", +"lh");
Upfractal*1.001;

[name=LL; linestyle=Text;fontsize=8; textalign=BELOW,Center; color=Red;]
if(Downfractal<Valuewhen(2,Downfractal,Downfractal), + "LL ", +"");
Downfractal*0.999;

[name=hl; linestyle=Text;fontsize=8; textalign=BELOW,Center; color=Blue;]
if(Downfractal<Valuewhen(2,Downfractal,Downfractal), + "", +"hl");
Downfractal*0.999;

{----------This draws Lines I called Creek and Ice (Wyckoff terms)for want of names-------}

HoldLevelPeriod :=
Input("Hold Level Period",100,1);

FrU:=ValueWhen(1,UpFractal,UpFractal);
FrUb:=If(H < FrU and barssince(UpFractal)<HoldLevelPeriod, FrU, undefined);

[name=Creek; linestyle=Horz Step; color=blue; width=1]
FrUb;

FrD:=ValueWhen(1,DownFractal,DownFractal);
FrDb:=If(L > FrD and barssince(DownFractal)<HoldLevelPeriod,FrD,undefined);

[Name=Ice; linestyle=Horz Step; color=red; width=1]
FrDb;

{-----------------------------Colour Market Structure--------------------------------------}

Switch:=if(barssince(valuewhen(1,upfractal))<barssince(valuewhen(1,downfractal)),Frub,Frdb);

{ Fill }
[name=Market Structure Fill; linestyle=fill;]

[color=Red] If((L>valuewhen(1,FRUb)),H,Switch);

[color=Cyan] C;

[linestyle=pricecolor]

[color=Green] If( c>=valuewhen(1,FRU) OR switch =FRD and c>valuewhen(1,FRD),1,undefined);

[color=Red] If( c<=valuewhen(1,FRD) OR Switch = FRU and c<valuewhen(1,FRU) ,1,undefined);

[color=Black] ;


[Visible=True]

jck:=Cross(C,Valuewhen(2,FRU));
[name=JCk; linestyle=marker; marker=Long;align=Above; ]
jck;

bki:=Cross(Valuewhen(2,FRD),C);
[name=BkIce; linestyle=marker; marker=short; align=Below;]
bki;




Edited by cmacdon - 23 Aug 2014 at 8:42am

In this version 14.08% version (otherwise same as above) I extended the Hold level period from 100 to 1000