H-L Flip input?

[sashen]

I'm creating a study based on the Regression Trend Channels tool on the Advanced Line drawing toolbar... I want to use the H-L Flip input in my study, but am not clear how to do that... right now, for example, I'm using Close:

LinearRegressionStudy("Close", Length, sd1);

What do I do instead to get the functionality of the H-L Flip input?

Thanks!

[JayF]

I believe the way HL Flip works is if the trend is heading down, then the High values are used in the calculation. If the trend is heading up then the Low values are being used. I don't believe this can be simply programmed like LinearRegressionStudy("HL Flip", Length, sd1);... not really sure on how this can be implemented. Anyone have any ideas?

[sashen]

RE: H-L Flip Input?

I understand what the H-L Flip does, I'm just trying to find a way to make it happen in my code... "LinearRegressionStudy("HL Flip", Length, sd1)" doesn't work. I tried that and "H-L Flip" as input variables; neither of them are valid.

Hoping someone has an answer,
SS

[Seshadri]

H-L Flip & End Bar Question

Hi Jay,

I did not understand your explanation of how the H-L Flip works. Can you explain in more detail please? Once you draw the RTC, it does not move with the change in prices dynamically. So we have to remove the earlier one drawn and redraw another one after price has moved. So how does the H-L Flip line change depending upon the price move? I am clueless.

Secondly, what is the function of the End Bar in the RTC option? I thought it indicates the end of a trend. But as we know, we have to redraw the RTC if price drops further or goes up further. So how does the system know when a trend is likely to end - after we know that already? How exactly is it useful as a tool?

I eagerly await your reply. Thanks.

Sesh

[Seshadri]

RTC - Addl question

Also Jay is there an efs file for plotting the RTC and to make it change dynamically with price movement? Something like the Auto Trend Channels in AGet. Since this has nothing to with Elliot Waves can it be made available to non-Aget users too? Otherwise it is a tedious affair rmoving and inserting a new RTC with price changes? I am sure other user might be interested too? Thanks.

Sesh

[JayF]

Re: H-L Flip & End Bar Question

.

Originally posted by Seshadri
Hi Jay,

I did not understand your explanation of how the H-L Flip works. Can you explain in more detail please? Once you draw the RTC, it does not move with the change in prices dynamically. So we have to remove the earlier one drawn and redraw another one after price has moved. So how does the H-L Flip line change depending upon the price move? I am clueless.

Secondly, what is the function of the End Bar in the RTC option? I thought it indicates the end of a trend. But as we know, we have to redraw the RTC if price drops further or goes up further. So how does the system know when a trend is likely to end - after we know that already? How exactly is it useful as a tool?

....
Also Jay is there an efs file for plotting the RTC and to make it change dynamically with price movement? Something like the Auto Trend Channels in AGet. Since this has nothing to with Elliot Waves can it be made available to non-Aget users too? Otherwise it is a tedious affair rmoving and inserting a new RTC with price changes? I am sure other user might be interested too?

Redrawing the Regression Trend Channel (RTC) after a new high is made is part of the nature of the channel. Once a trend line is put into place it is not supposed to move... The RTC is an extension of this. We do recognize that some users redraw the RTC often, and as such the Auto Trend Channels were made available to fill that void.

The End Bar is a designator for the where the right-most anchor is placed. It's useful for quickly seeing what data is being taken into account to draw the RTC.

One common misconception is that Advanced Get is only about Elliot Waves. This is far from the truth. There are many tools available in Advanced Get that have nothing to do with Elliot Theory. Get is a collection of tools to assist traders with their decision making process, and Elliot Waves are one tool in the toolbox. The Auto Trend Channels is an enhancement to the eSignal Regression Trend Channel, and will likely remain in the Advanced Get Package. Because of this, I don't see us writing an EFS to create a automated RTC, as this would cannibalize this feature from Advanced Get.

There may be an EFS already written for this. I would suggest using the Search method mentioned in this post to assist with what you are looking for.

[sashen]

Re: H-L Flip?

Hi Jay,

Before this topic drifts too much... do we have any info on how to set H-L Flip as the input for an EFS study? The code I've created does what I want/need, except for that.

Thanks again,
Steven

[Seshadri]

Thanks

Hi Jay,

Thanks for the prompt response. I shall look for the efs on Auto Trend Channels.

Sesh

[rupe]

Re: Thanks

Hi Sesh,

I'm eagerly looking for auto trend also!

Let me know your progress...

-Rupe