Question on Fibonacci Time Extension Tool

[Alfred]

Hi...
I carefully set up a fibonacci time extension tool on similar points in a 2 second chart and a 4 second chart (screen shots attached below)...I was careful to have them exactly on the same pivot points....however the results at the 200% and 300% cycle lines are landing at noticeably different spots on their respective charts....on the 2 second chart the 200% line meets close to a pivot point, but on the 4 second chart the 200% line is not close to a similar pivot...similarly the 300% lines do not jive on similar chart points either...what could be going on here ??

Thanks....

[NinjaTrader_Ray]

We will check it out.

[NinjaTrader_Ray]

Actually...

It is working as expected. You can not use price pivots since this is not a price based projection. If you use the same time pivot (bars with exact same time stamp) then you will see identical time cycles plotted.

[Alfred]

So..is the time stamp on the close of the bar ??

Thanks...

[NinjaTrader_Ray]

That is correct.

[Alfred]

Here is another example....getting quite different results on 2 second & 4 second charts...

Seems like there should be a way to get fairly similar results on different time frames...??

I set these up very carefully by zooming in on the same bars...this difference is enough to make a difference....

Thanks...

[NinjaTrader_Ray]

Are the 1st anchor point on both charts identical?
Are the 2nd anchor points on both charts identical?

For example:

9:16:54 bar on both charts as 1st point?

If they are the same then let me know if they are different then you can expect different results.

[Alfred]

The anchor points were identical on the 2 second and 4 second charts...

11 54 20
12 15 24

Thanks...

[NinjaTrader_Ray]

Will check it out.

[Alfred]

Have noticed this behaviour using other graphic cycle techniques as well....

Thanks...

[NinjaTrader_Dierk]

Alfred, please understand that although you e.g. have 2 seconds series, there is no guarantee that each and every minute has 30 second bars.

Reason: There won't be any bars as there if there is no data which could result in bars not being there as there haven't been any ticks for the 2 second interval in question.

However, we have this on our list to look into again with NT7 (late next year). Thanks

[Alfred]

Thanks Dierk...

Yes...after I thought about it a bit and took a more careful look this morning realized that empty seconds bars are not plotted. Have noticed that on thinly traded days (like the 1/2 day after Thanksgiving) the graphic discrepancies can become quite more noticeable. Eventually having an option to plot empty seconds bars will bring much more accuracy to chart graphic cycle studies...targeted points of interest etc. Graphic work on various length seconds bars can potentially be extremely accurate and valuable.

Thanks....

[NinjaTrader_Dierk]

Right, we have this on our list for NT7 issues to consider.

[Alfred]

A final note for right now....

Thanks again Dierk...

I will put in a big plug for plotting empty bars on seconds charts in NT7 (or sooner if possible)...without empty bars on (short term) seconds charts you essentially have something like a tick chart as far as time goes...and without an accurate sequential measurement of time such things as cycles, squaring of price and time and targeted turning points etc. go out the window...and....in playing a great deal with chart graphics timing techniques on both tick charts and seconds charts...accurate seconds charts are absolutely hands down much much better to work with...without question....

On the NT seconds charts as they are now (at least on the ER2 for example) it seems that you have to sometimes get up to 6 to 8 seconds for them to become reasonably accurate for graphic timing work....if the action is thin on the current 1 or 2 or so seconds charts ....then you have to use your judgement a bit to anticipate potential turns etc. as things are now....

Another advantage of plotting empty bars on seconds charts would be the ability to do spreads between indexes and other contracts accurately in very short time frames....this would also be a big plus for users of NT....

Thanks....