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Monday, October 17, 2011

Don't let ToS turn your drawing into garbage

The Andrews Pitchfork drawn here clearly indicates that price is tempting the lower tine of the fork.

If you look carefully you can see the small magenta squares which indicate the coordinates I used to draw a channel.  When I drew the channel directly over the Andrews Pitchfork  I was careful to stay within the the past five days.

The two heavy horizontal lines were drawn while viewing the chart in a 5 day 5 minute mode. These lines demonstrate the limits of the 5 day 5 minute chart so that the channel will be correctly drawn within the last five days.
 

The chart below is now back in the 5 day 5 minute mode. As you can see the Andrews Pitchfork which was drawn with a starting point more than 5 days ago is no longer accurately depicted.

This method of redrawing lines on your charts is a lot of extra work, but it is the only way to maintain accuracy of any drawing whether it be a trend line or fork.  As you can see below the Andrews Pitchfork has moved a significant distance.  Basically it has become useless garbage..

I brought this error to the attention of ThinkOrSwim well over a year ago but the problem persists...




Here's one more example.  The true fork is yellow.  The blue fork is ToS
What do you think?   Would this make a difference in how you you would trade... Yeah me too.

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