Kagi Chart Issue? -- TS vs MC

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SUPER
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Joined: 03 Mar 2007
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Kagi Chart Issue? -- TS vs MC

Postby SUPER » 03 Jan 2010

Here's a simple indicator which plots the direction of Kagi charts Uptrend or downtrend, Green coloured bar on chart reflects to indicator output as 1 and
-1 for red bar on chart.

You will notice from attached images that the indicators does not plot correctly on many occasions on MC chart which makes me believe that there is some problem with Kagi charts. ( attached TS Chart for comparision)

Code: Select all


{  1 if direction is up (green bar);
  -1 if direction is down (red bar) }


variables:
 Direction( 0 ) ;
 
if Close > High[1] or Close < Low[1] then
 begin
 if Close < Low[1] and Direction >= 0 then
  begin
  Direction = -1 ; 
  end 
 else if Close > High[1] and Direction <= 0 then
  begin
  Direction = 1 ;
  end ;
 end ;
 
 Plot1( Direction, "Direction" ) ;
Attachments
K-1.jpg
MC Chart
K-1.jpg (175.25 KiB) Viewed 177 times
k-2.jpg
TS Chart
k-2.jpg (148.74 KiB) Viewed 164 times

SUPER
Posts: 622
Joined: 03 Mar 2007
Has thanked: 99 times
Been thanked: 80 times

Postby SUPER » 09 Jan 2010

I have just discovered that construction of Kagi chart by MC is correct and there is flaw in TS, because TS treats close value incorrectly in its calculation, close is either Low or High of the bar where as MC takes into account the "Reversal" amount into consideration.

Yet another reason why MC is better then TS as it allows all other chart capabilities like multi-time, IOG etc across all types of charts they support.

All these days we were comparing MC with TS (benchmark), but now time has come to acknowledge that it should be other way around.

Conclusion: Kagi chart work perfectly in MC.


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