Lesson 13

[Trader Question]

I am currently on lesson 13 and enjoying the course imensly. Nearby & further out zones where introduced in concept earlier on and are now being used 'mechanicaly' in examples. I can not re-call an objective description of them ( possibly due to being asleep at the time). I understand the concept well enough however do not have enough information to program them into my charting software. (Well I do but it would require a lot of intellectual work that I suspect you have done already, it would also need me to define whether I concider a line nearby or further out which might not coincide with others definitions). Apologies if I have over looked the definition somewhere.

N.A.

[pldot]

We start talking about the nearbys/furtherouts before we give the definitions; they are contained in Lessons 16-20.

[Trader Question]

A couple more questions. Funnily enough I had already messed around programing my own zones after lesson 3 though I simply had a 'gradient' going from closest support to furthest.
These questions are from the point of view of prgramming indicators rather than conceptual.
What lines are concidered for the zones ? If you take all lines + extended + 2 or 3 bars back geomatry extended forward thats an awful lot. Im asuming your software just looks at the 'major' lines. I am keen to duplicate everything exactly before I mess around with variations and do my own thing.

N.A.

[pldot]

====Our nearbys include most of the possible support/resistance areas, and take into consideration the more unusual lines when they are appropriate...

[Trader Question]

Still not sure what constitutes 'close' take Lesson 16 slide 28 bar A for example. The 52 up is incorperated in the further out support zone. Could it not equaly mark the bound of the nearby zone? How close to envelope bottom/1-1 support would it need to get to be concidered nearby?

N.A.

[pldot]

===not in this case... too far away....

[Trader Question]

Last question is pedantic I feer! Leson 16 Slide 33 suggests fat if a 1-1 zone has no lines within it (and I am presuming is 'fat' too) that you would use 1/4 the bar. Using that slide as an example lets assume that a line just cuts the bottom 1/10th of the 1-1. Would you reduce the bar to 1/4 still or use the full 9/10ths of the bar. (I think this might happen with a large oustide bar 3 bars ago).

N.A.

[pldot]

===Would not use the full 9/10s of the bar,...

[Trader Question]

I have carefuly reviewed the material (so far) again and am still unclear.
Lesson 16 slide 28 bar A again I would agree is too far away though this was a subjective call for me. What constitutes 'too far away' . I am unsure how close it needs to be to join the nearby support? I have looked at a few charts and often it is obvious other times not. I could think of several ways of doing this for exampl look at the absloute value of nearest envelope to PLDot and use this range to look for nearbys
It occurs to me also that under certain circumstances with a particularly far 5-9 there may well be isolated 5-2's or 5-2 extensions. I would be inclined to treat this as a seperate support area. I suspect the 'pure' methodology would join them to the farther out termination area producing a fat zone?
Just to re-iterate this is not a programing issue, I just like messing around with code to cement my understanding. I do however want to be absolutely mechanical in my application of the methodolgy before becoming creative. I tend to err on the side of creativity which can be a negative of course when not applied apropriately.
I must say that on a couple of ocasions I have thought ah ha! a wrinkle but a careful re-read has demonstrated I have missed a subtlty, quite remarkable concidering the depth and breadth of material presented. If this is such an ocasion then carefuly I apologise for pouring all this energy into an exaust.

N.A.

[pldot]

will discuss with Charlie and see if we want to be more specific.