A light turned on inside my head. I was thinking about how to identify forex turning points as they occur in realtime for entry and exit purposes. What is needed is an indicator that graphically displays when price momentum is changing direction, and especially accelerating. For major trends and countertrends. On all timeframes and all currency pairs.
This reminds me of FXME graphs of 'buying vs. selling' pressure. Signal was buyers line cross sellers line with angle and separation. Accumulation and Distribution. Buying momentum vs selling momentum. Relative number of upticks vs downticks in each time frame and candle period. A doji candlestick shows the 'cross'. Hammer and inverted hammer add direction; so does a change in adjacent candle color.
Can HA candles display this in MT4? But I don't like the way they look (kind of jumbled). Could constant volume candles be modified to somehow show increasing momentum?
Can MT4 tick chart be changed to display a different number of ticks? Mine only shows about 80. What is the approx range of ticks in one minute in forex markets? It would be helpful if the tick chart showed where the current candlestick began.
Full of ideas and questions,
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