OT: LG, a persistent theme in your posts is the idea of a "correct" way to plot trend-lines and channels. I don't believe that I've ever seen you define what you mean.
In my own study I've encountered a range of perspectives on plotting, and my own position is that what would be appropriate for one purpose or approach might not be for another. Some traders use log scale for some purposes, linear for other purposes, switch between the two for still others. Some traders chart closes only for long-term analysis of indices, or establish different zones based on closes, absolute highs/lows, parallel channels, and so on. Some believe that a line anchored at the first higher low in an uptrend or first lower high in a downtrend is preferable. Some prefer to leave relatively substantial margins for error, or define minimum pct. penetrations (which can amount to the same thing). And none of this gets into the Andrews Pitchfork and variations, PnF, diverse Japanese techniques, Fibonacci and E-Wave and Gann and so on and so on. Many believe that exactitude in most if not all of these instances is unnecessary, where not illusory or misleading. |
