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Q: I was on the phone with Larry Pesavento discussing how to calculate the harmonic for a symbol. He mentioned that Ensign has a tool that will automatically calculate swing values. Is Larry possibly referring to a study you created for him? A: Larry is referring to the proprietary Pesavento Patterns tool in Ensign Windows which draws the swing lines. The study can use the Delta $ markers to show the size of the swings (change in price from the ends of a trend line). Look for common (similar) sizes of the swings such as the 3.25, 5.25 points and 8.00 points on the ES e-mini chart. The common swing sizes are the natural harmonics for the symbol. To find the higher harmonic numbers, look at the common swing sizes on a 30-minute chart.
read more» Pesavento Patterns Last modified 10/23/08 12:16 PM |
