[cbratton]

I'm having trouble intrepeting what this pattern means. It's Demark's Waldo Pattern Number Two.

This is what I got out of the book (Demark Indicators):

Pattern Two:

The market records a fresh high or low for a move, but closes higher than the four previous closes (for a potential base)

OR

The market closes lower than the four previous closes (for a potential top)

OR

The close of the trend high is greater than the previous price bar, or the close of the trend low is less than or equal to the previous price bar

AND

A down close occurs after a high or an up close occurs after a low, and the close following the high is greater than the close prior to the high, or the close following the low is less than the close prior to the low.



This is what I think it means a in more simple form:

FOR A TOP:

The market records a fresh high or low for a move ?

AND

closes lower than the four previous closes (for a potential top)

OR

The close of the trend high is greater than the previous price bar

AND

A down close occurs after a high

THEN

The close following the low is less than the previous low.


FOR A BOTTOM:

The market records a fresh high or low for a move

AND

closes higher than the four previous closes (for a potential base)

OR

The close of the trend low is less than or equal to the previous price bar)

AND

A up close occurs after a low

THEN

The close following the high is greater than the previous high




But when I try to write a code it still seems wrong.

Any Help?

[trader273]

probably help if you would post the code. You are basically asking someone to do it for you right now.

[gus]

The only Waldo pattern I've found to work real time is Waldo 3
and it is a good indicator.

[trader273]

Check out this guy's website:

[gus]

Thanks for a reply, but since no http addy is included, I'm wondering just what site you are suggesting.

[trader273]

Originally Posted by gus »

Thanks for a reply, but since no http addy is included, I'm wondering just what site you are suggesting.

Are you kidding me? It's Where's Waldo, would you really go to a site that had a cartoon as its spokesperson for trading advice??

lol

[enochbenjamin]

too funny! just made my day!

[diablo272]

hahahahahahahahahahaha