UMG General Concepts: Difference between revisions

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(Created page with " # '''Algorithm''': A specific set of rules used to construct technical analysis models on financial instrument charts. UMG utilizes two distinct algorithms, each responsible for building different types of technical analysis models. # '''Model''': A key structural concept in UMG that encompasses a set of elements such as: ## A segment of the price chart where the algorithm has been successfully applied. ## A collection of lines constructed on the relevant price chart se...")
 
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# '''Algorithm''': A specific set of rules used to construct technical analysis models on financial instrument charts. UMG utilizes two distinct algorithms, each responsible for building different types of technical analysis models.
'''Algorithm''': A specific set of rules used to construct technical analysis models on financial instrument charts. UMG utilizes two distinct algorithms, each responsible for building different types of technical analysis models.
# '''Model''': A key structural concept in UMG that encompasses a set of elements such as:
 
## A segment of the price chart where the algorithm has been successfully applied.
'''Model''': A key structural concept in UMG that encompasses a set of elements such as:
## A collection of lines constructed on the relevant price chart segment as a result of a complete and successful application of the algorithm.
# A segment of the price chart where the algorithm has been successfully applied.
# '''Model’s Parameters''': A collection of values derived from:
# A collection of lines constructed on the relevant price chart segment as a result of a complete and successful application of the algorithm.
## The price chart segment and the set of lines created by the algorithm.
 
## Certain parameters may also be calculated using other previously constructed models.
'''Model’s Parameters''': A collection of values derived from:
# '''Point (also known as "Touch")''': In the context of an algorithm, a point refers to a specific location on the chart associated with the high or low of a particular bar. Significant extremes or tangent points identified by the algorithm can serve as points (touches).
# The price chart segment and the set of lines created by the algorithm.
# '''Significant Extreme''': An extremum that possesses a confirming extreme.
# Certain parameters may also be calculated using other previously constructed models.
# '''Confirming Extreme''': An extreme that precedes a significant extreme. In essence, an extreme can only be deemed significant if there is a confirming extreme preceding it.
 
# '''Absolute Extreme''': In the context of algorithms, this refers to a price chart extreme that satisfies the following conditions:
'''Point (also known as "Touch")''': In the context of an algorithm, a point refers to a specific location on the chart associated with the high or low of a particular bar. Significant extremes or tangent points identified by the algorithm can serve as points (touches).
## It represents the lowest or highest price value in the region between two adjacent absolute extremes. Therefore, absolute extremes are mutually defining.
 
## It is a significant extreme.
'''Significant Extreme''': An extremum that possesses a confirming extreme.
# '''Local Extreme''': This is a price chart extreme that:
 
## Does not represent the lowest or highest price value in the region between two adjacent absolute extremes.
'''Confirming Extreme''': An extreme that precedes a significant extreme. In essence, an extreme can only be deemed significant if there is a confirming extreme preceding it.
## Is a significant extreme.
 
'''Absolute Extreme''': In the context of algorithms, this refers to a price chart extreme that satisfies the following conditions:
# It represents the lowest or highest price value in the region between two adjacent absolute extremes. Therefore, absolute extremes are mutually defining.
# It is a significant extreme.
 
'''Local Extreme''': This is a price chart extreme that:
# Does not represent the lowest or highest price value in the region between two adjacent absolute extremes.
# Is a significant extreme.

Revision as of 23:51, 15 July 2023

Algorithm: A specific set of rules used to construct technical analysis models on financial instrument charts. UMG utilizes two distinct algorithms, each responsible for building different types of technical analysis models.

Model: A key structural concept in UMG that encompasses a set of elements such as:

  1. A segment of the price chart where the algorithm has been successfully applied.
  2. A collection of lines constructed on the relevant price chart segment as a result of a complete and successful application of the algorithm.

Model’s Parameters: A collection of values derived from:

  1. The price chart segment and the set of lines created by the algorithm.
  2. Certain parameters may also be calculated using other previously constructed models.

Point (also known as "Touch"): In the context of an algorithm, a point refers to a specific location on the chart associated with the high or low of a particular bar. Significant extremes or tangent points identified by the algorithm can serve as points (touches).

Significant Extreme: An extremum that possesses a confirming extreme.

Confirming Extreme: An extreme that precedes a significant extreme. In essence, an extreme can only be deemed significant if there is a confirming extreme preceding it.

Absolute Extreme: In the context of algorithms, this refers to a price chart extreme that satisfies the following conditions:

  1. It represents the lowest or highest price value in the region between two adjacent absolute extremes. Therefore, absolute extremes are mutually defining.
  2. It is a significant extreme.

Local Extreme: This is a price chart extreme that:

  1. Does not represent the lowest or highest price value in the region between two adjacent absolute extremes.
  2. Is a significant extreme.
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