Auto-Fit Trendline

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ohkoolnutz

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Post Number: 463
Registered: 10-2005

Rating: N/A
Votes: 0


Friday, January 26, 2007 - 11:19 am:

I installed 5.0 because auto-fit trendlines could save me a lot of time and effort.

It's good to see change happening. The following will be very critical so I hope you don't take it personal because I appreciate the effort you put into this.

1)
Can I autoset it to high/low so it doesn't ask me everytime? (If you consider my point 3 can I autoset it to high?)

2)
A line is determined by two points with {x,y} coordinates. x is the day and y is the price value. In my case I want the y value to be the high of the day.

I tried to draw an auto-fit trendline for msft_us (20060131, high) and (20060427, high). It drew a line (20060130, high) and (20060428, high) with the second coordinate being an extension of the second high of the trendline (20060321).

The trendline now has an imaginary point in the middle of the trendline (20060321) which determines its original endpoint's (20060427) y (price) value.

The end result is that:
* The end points are not on the days I instructed them to be but shifted by 1 day to the left and right.
* The trendline generated actually uses the high values for the period(!) covered by the trendline (some sort of triangular calculation?) and not the high values for the days(!) I selected.

3)
If you agree with me that my point 2 is a mistake in implementation then please consider point 3.

Can we get the option to right click on a trendline and edit the coordinates in the menu?

Edit Coordinate1(20060130, high)
Edit Coordinate2(20060427, high)
Auto-Extend
Adjust
Delete

After we select "Edit Coordinate1" we get to enter:
DATE: [20060130]
PRICE: [option]

where [option] can be the words 'high', 'low', 'close' or a number value? Why don't you throw in 'open' as well?

4)

On the off-chance that you actually put in the above fixes you will need a toggle feature because 1) is set to always draw a 'high'-based trendline.

Can we hence get an options in the menu:

Edit Coordinate1(20060130, high)
Toggle Coordinate1 Price -> sub-menu(open, high, low, close)
Edit Coordinate2(20060427, high)
Toggle Coordinate2 Price -> sub-menu(open, high, low, close)
Auto-Extend
Adjust
Delete

This will allow one to actually draw a trendline from (C1, high) to (C2, low) in quick fashion.

5)

Once the trendline is drawn the coordinates should be made permanent. Currently autoextending the trendline causes the second coordinate to move from the day (20060427) we selected to the last trading day (now) in history.

This is a problem because when we undo the auto-extend the trendline keeps being autoextended to the last trading day (now) and doesn't return to its original position (20060427).

Note: If you are not confused already this will do the trick. When I made my day selection the trendline overrode my selection and drew a less steep curve. It choose the high of the period as boundary instead of the high of the day I selected. When it was auto-extended the second coordinate was moved but the trendline did not change its slope even though there were high values that lie above the trendline. On one hand you override the user and on the other you do not. This is inconsistent. If you implement my suggestions this inconsistency should go away.

---
ohk

Lies, Damn Lies and Technical Analysis

ohkoolnutz

Member

Post Number: 464
Registered: 10-2005

Rating: N/A
Votes: 0


Friday, January 26, 2007 - 11:32 am:

6) Drawing an auto-fit trendline on perfect consolidations (perfect horizontal line) doesn't work. An example is hyo_ax using the coordinates (20060531, 0.089) and (200600719, 0.089). The line keeps disappearing. I tried it on three more stocks with the same result.

---
ohk

Lies, Damn Lies and Technical Analysis

colin_twiggs

Member

Post Number: 2772
Registered: 09-2002

Rating: N/A
Votes: 0


Friday, January 26, 2007 - 10:19 pm:

OHK,

Thank you for the excellent feedback. We will discuss this on Monday.
Regarding point (6) The autofit is suited to trendlines, not consolidations.

Regards,
Colin