Support Board
Date/Time: Wed, 15 Jan 2025 18:39:48 +0000
Post From: MurreyMath additional functions request
| [2016-11-20 09:28:22] |
| ticinotrader - Posts: 397 |
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Price is always contained by a frame, within the +2/8 and -2/8 lines. Frame is selected based on the High and Low extremes of 'n' bars (frame size multiplied by the lookback multiplier). This is why lines above +2/8 or -2/8 are not part of the Murrey method and are unnecessary. Price should immediately move to a new frame when either the +2/8 is violated (last price is at least 1 tick above +2/8) or -2/8 is violated (last price is at least 1 tick below -2/8). Then a new frame should be calculated based on the new H/L extremes and price should be placed into a new set of +2/8 and -2/8 until it violates any of them again. On the chart below the 64 frame is drawn. The H/L extremes (indicated by blue rectangles) of the last 96 bars (frame size × lookback multiplier) are: High: 155'12 Low 152'12 http://www.sierrachart.com/image.php?Image=1479633848964.png You can see on the chart that the price is already violated the -2/8th line of this frame several times but no new frame is calculated yet. The correct frame now should be: 8/8 = 154'22 (+2/8 = 155'15) 0/8 = 151'18 (-2/8 = 150'25) Please let me know if you need any additional info. Thanks that you take time to work on this! |