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Registered User
Joined: 3/19/2005
Posts: 3
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Re Don Worden's Friday, Oct. 13th Daily Report, wherein he reprints Sir BigFoot's receipe for displaying SP-500 bar-graph with a T2108 comparison symbol:
I set up Template #3 with nothing in the Top window but Prices (bar chart) - and some old trend lines I've had on the SP-500. Then I click on Prices/Top Window in the Chart Template Edit window (the range of the chart being roughly 1080 to 1360), and enter T-2108 Green for a Comparison Symbol. As soon as I hit the CHECK mark to make the Comparison Symbol visible, the whole SP-500 collapses (!), meaning the prices range now goes from 50 to 2680, so that the SP-500 prices are now collapsed to a completely useless "thick line" across the time axis - and the T2108 is line plotted over this 50-2680 range, even though when displayed by itself the T2108 ranges from 15 to 72.
There's no logic to this, far as I can tell. When I then REMOVE the T2108 visibility check-mark the SP-500 bar chart DOES NOT revert to it prior 1080-1360 range. But when I then switch Templates and then revert to the first one, the SP-500 scaling reverts to its original range.
So I cannot replicate Sir Bigfoot's charting receipe.
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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The fact that the price line collapses means you are using Logarithmic Scaling, which is good. Comparison symbols plotted using Arithmetic Scaling are not valid.
That said, I couldn't find anything in Sir Bigfoot's description of how he interprets the stocks indicating this doesn't match his setup. There is no mention of the Price line at all other than to mention it is yellow. It does not seem to be involved in his description of how to interpret the chart.
You can send an email to Sir Bigfoot's attention at support@worden.com if you wish to get clarification from the author.
After Mr. Worden publishes an article, many times other customers have questions that can only be answered by the author of the article. We do not give out anyone’s email address or other personal information, rather, we will just forward their email on to the appropriate person. The individual may or may not choose to respond directly to you.
-Bruce
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Registered User
Joined: 1/1/2005
Posts: 2,645
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QUOTE (Bruce_L) The fact that the price line collapses means you are using Logarithmic Scaling, which is good. Comparison symbols plotted using Arithmetic Scaling are not valid.
Bruce,
It is true that psoelberg is on Logarithmic Scale, but I do not know anything particularly good about it in this case. It forces T2108 to be plotted on a Logarithmic Scale which does accentuate its spikes to the downside but at the expense of making SP-500 almost unreadable. There is nothing of interest here observable on Logarithmic Scale, if your eyes are good enough, that is not more easily observed on Arithmetic Scale.
Notice that Sir BigFoot accentuates the down spikes of T2108 by converting them to accentuated up spikes in the form of RS T2108 which is essentially the reciprical of T2108. With this, he really has no need to plot T2108 as a Comparison Symbol in the first place.
If one wants to easily see what Sir BigFoot is trying to convey, I suggest he stay on Arthmetic Scale.
In my interpretation of the Sir BigFoot report, the SP-500 price line is the most important plot of the setup. Basically, the RS COMPQX is used to judge the quality of the SP-500 trend and the up spikes in the RS T2108 are used to mark bottoms of the SP-500.
You know the following, but some others may not.
One may wish to use, for example, T2106, the McClellen Oscillator, as a Comparison Symbol, but you must be on Arithmetic Scale to even plot the negative part.
There is good reason to use Logarithmic Scale when say percent change may be of interest for both the Symbol and the Comparison Symbol. On Logarithic Scale, the plot with the largest vertical change between two bars also has the largest percent change between the two bars. That is not true when on Arithmetic Scale.
Thanks,
Jim Murphy
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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QUOTE (bustermu) It forces T2108 to be plotted on a Logarithmic Scale which does accentuate its spikes to the downside but at the expense of making SP-500 almost unreadable. There is nothing of interest here observable on Logarithmic Scale, if your eyes are good enough, that is not more easily observed on Arithmetic Scale.
The actual plot of the SP-500 does not seem to play a big part in Sir Bigfoot's description.
QUOTE (bustermu) Notice that Sir BigFoot accentuates the down spikes of T2108 by converting them to accentuated up spikes in the form of RS T2108 which is essentially the reciprical of T2108. With this, he really has no need to plot T2108 as a Comparison Symbol in the first place.
Sir Bigfoot even mentions that plotting the comparison symbol isn't necessary.
QUOTE (bustermu) In my interpretation of the Sir BigFoot report, the SP-500 price line is the most important plot of the setup. Basically, the RS COMPQX is used to judge the quality of the SP-500 trend and the up spikes in the RS T2108 are used to mark bottoms of the SP-500.
If this is the case, being in Arithmetic scale would be a definite advantage.
QUOTE (bustermu) One may wish to use, for example, T2106, the McClellen Oscillator, as a Comparison Symbol, but you must be on Arithmetic Scale to even plot the negative part.
Interesting. I might have thought to plot T2106 at the same time using layouts, but I never would have thought to use it as a Comparison Symbol in the same pane.
-Bruce
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Registered User
Joined: 3/19/2005
Posts: 3
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I'm highly appreciative of Bruce's and and particularly of Jim Murphy's helpful inputs, and am thus off to learn some more - exploring Sir BigFooot's ideas ...
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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You're welcome. Our pleasure.
-Bruce
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