Apprentice wrote:I don't understand the logic required. How to calculate that values which should be shown on every reversal? ??Some_Value?? / ATR?
The values should be calculated based on a running calculation of the ATR of the daily chart no matter what lower time frame a person is looking at.
For example: When choosing the Daily ATR period, 5, 10, 20, etc... The indicator will determine what the ATR is and will always run the calculation going forward each new day so it will adjust the percentage of ATR distance moved values derived on each swing which will be based on the ATR period value calculated at the beginning of each day.
(No back-painting! Only adjust for new forming waves)
The next calculation would be for the swing or wave reversal calculation. It is to be based on a percentage of ATR distance moved. For example: if the ATR period is 5 and that equals a 100 pips and the percentage of ATR movement (difference) is set to 10% then it would take a 10 pip move to start a new wave. The values at the top of each peak or bottom of each valley will reflect the percentage of ATR that particular wave moved. 10% would be the minimum in this example but the wave could have continued and traveled a distance of 50% of ATR.
Also,
very important that the option to calculate the reversal change be based on high to low of each candle and not just candle open and close.
I hope this helps with understanding the logic. It is just changing the wave reversal from a static variable (pips) to a dynamic one based on volatility calculations which are much more helpful. Thank you for all your work and effort.
Best and Kind Regards,
Pro Retail Trader