Best Thread learning to read price action with p/f charts

thanks for your quick feedback, much appreciated.
having read a good part of the blog now (and very good it is to..) i think the line i may want to take is the Updata route, I am looking for something that can swap between instruments and time frames pretty quickly for analysis purposes and can provide targets on the fly without having to separately upload data sources/files.
In that regard my queries would be regarding data source, with your (or Malagutis) experience, what would be the preference for data source?
 
thanks for your quick feedback, much appreciated.
having read a good part of the blog now (and very good it is to..) i think the line i may want to take is the Updata route, I am looking for something that can swap between instruments and time frames pretty quickly for analysis purposes and can provide targets on the fly without having to separately upload data sources/files.
In that regard my queries would be regarding data source, with your (or Malagutis) experience, what would be the preference for data source?
what do you want to look at..??
us stocks
uk stocks
ffx
commods
fixed incxome

??
 
what do you want to look at..??
us stocks
uk stocks
ffx
commods
fixed incxome

??

to start with it would be FX and indices (CFD's), but as confidence grows will move into stocks (either UK or US, depending on where it takes me! i will be leaving options open at moment) to take control of my pension...
 
to start with it would be FX and indices (CFD's), but as confidence grows will move into stocks (either UK or US, depending on where it takes me! i will be leaving options open at moment) to take control of my pension...


fx and cfd index
mt4 data source the best
 
from memory..
you had to go into Updata and change settings if you wanted to change timeframe on the same instrument.they night have changed it....but it was a real pain
 
thanks for your quick feedback, much appreciated.
having read a good part of the blog now (and very good it is to..) i think the line i may want to take is the Updata route, I am looking for something that can swap between instruments and time frames pretty quickly for analysis purposes and can provide targets on the fly without having to separately upload data sources/files.
In that regard my queries would be regarding data source, with your (or Malagutis) experience, what would be the preference for data source?

the best advice i can give with Updata would be to choose your own data source..I'd probably say esignal would be the best one. if you opt for the UK "home" version you're tied to their default data provider and I had issues with that data. esignal I've never had issues. Another trader I knew using Updata had a "world" edition or something like that so he was able to choose his data source. you should check this out before committing to anything with them

that said, there is no doubt P&F is absolutely fantastic on updata. but as Dentist says, it is expensive. personally im happy to pay that extra though
you can easily change timeframes, templates with different/multiple timeframes etc. if you have the data subscription you can get whatever you want.
generally the fees are different depending on stocks, currencies and then indices is a small addition on top again
its not cheap. but the quality of the product is fantastic.

I don't use updata at the moment, in fact i don't use P&F. I'm happy with a strategy i developed and haven't needed to go back. however i am always on Dentist's threads and look in envy at what is the simplest, cleanest and most objective view of technical analysis I know. forget trendlines as you know them until you've used the P&F method. like everything it does have its pitfalls though
I've seen your PM, I'll expand a little bit more there
 
to start with it would be FX and indices (CFD's), but as confidence grows will move into stocks (either UK or US, depending on where it takes me! i will be leaving options open at moment) to take control of my pension...

I wrote some p/f software last year [which I had to mothball over the Xmas period], consists of a website and a locally run program (a Windows console application).

It doesn't need any fiddly data imports, and can calculate hundreds if not thousands p/f charts in real-time :innocent:

It currently takes it's data from a spreadbet provider which yes I know isn't true market data - but when you are generalising down to bigger box-sizes and looking for trends the picture it gives is plenty good enough. Other data providers could be plugged in - as long as they have an API feed.

I'm surprised Dentist didn't try and sell you my app, maybe he gets better kickbacks from bullseye? :cool:

If you or anyone else is interested in trialling it out let me know - note it'll take me a couple of days to boot it and my brain up again...

CUAV67i.png
 
many thanks chaps, your feedback is greatly appreciated.
Will be giving the Updata/Esignal route a trial run. Dont mind paying £100 per month however think i may need to run to £250 per month (for enhanced Updata and Data) which may be a bit to much. Spent some time yesterday running through the Updata videos and must admit it does look impressive, if i have to upscale to the pricey option will certainly have to earn its keep.
again, feedback appreciated, will let you know how i get on.
 
I wrote some p/f software last year [which I had to mothball over the Xmas period], consists of a website and a locally run program (a Windows console application).
....
If you or anyone else is interested in trialling it out let me know - note it'll take me a couple of days to boot it and my brain up again...

CUAV67i.png

that looks interesting, i would be interested in trialing. using the data you mention, how much history can you get? note the screen shot mentions august last year but obviously i dont know when the screen shot was taken. if you can get 6 to 12 months that would be very useful. I dont use PnF same as these guys, i am only really interested in the PnF count for identifying possible targets.
Following on from my last blog, if this works for me i would probably still use Updata for day to day but your program may allow me to take the cheaper £100 option then use your program for long term PnF counts.
 
that looks interesting, i would be interested in trialing. using the data you mention, how much history can you get? note the screen shot mentions august last year but obviously i dont know when the screen shot was taken. if you can get 6 to 12 months that would be very useful. I dont use PnF same as these guys, i am only really interested in the PnF count for identifying possible targets.
Following on from my last blog, if this works for me i would probably still use Updata for day to day but your program may allow me to take the cheaper £100 option then use your program for long term PnF counts.

Any timeframe is possible with the current data source, however my application doesn't do counts/targets - although I could be persuaded to enhance my code and add targets in ;)

Note: I never added targets in because I simply wasn't convinced in them, I've read the du Plessis books cover to cover and targets just looked a little too much like pipe-dreams. For every occurrence where the targets are met I can find just as many where they aren't...

Sending you a pm
 
Any timeframe is possible with the current data source, however my application doesn't do counts/targets - although I could be persuaded to enhance my code and add targets in ;)

Note: I never added targets in because I simply wasn't convinced in them, I've read the du Plessis books cover to cover and targets just looked a little too much like pipe-dreams. For every occurrence where the targets are met I can find just as many where they aren't...

Sending you a pm
thats fine, as long as the columns are there to be counted that works for me. will look at PM. ta paul
 
Just wanted to update this thread.
I got very frustrated having to run to the Bulls eye to analyse a chart.I messed about with Line and bar charts to see if i could adapt the p/f method to that form of charting,meaning i could use any charting software
 
A line chart is equivalent to the close plot on p/f
The hilo plot...that can be adapted to bar charts
With that in mind,then we can move on
 
Look at the last 2/3 trends and carve up the chart into bullish and bearish sections using 45 deg/pink or subjective trendlines/red

Screenshot_19.png
 
Top