2009.03.11 NOT ALL BREAKOUTS ARE THE SAME

[TheRumpledOne]

2009.03.11 NOT ALL BREAKOUTS ARE THE SAME



I have read that more than once. But what is missing is what makes one breakout different from the others.

If you think about it, you trade in 2 dimensions, price and time. Price moves up and down. Time marches forward. A price channel is defined by price high and price low over a period of time.

TRO2009_Dynamic_PriceChannel displays, in real time, what price channel price is breaking out of.

In the chart above, price had broken out of a 24 H1 price channel that has a 69 pip range. At the moment, price is at the 78% level which is 54 pips above the low and 15 pips below the high.

TRO2009_Dynamic_PriceChannel is a donational indicator.

[lukx]

TRO how you are using it?

[TheRumpledOne]

What do you mean HOW?

The indicators tells you how long ( time in bars ) and how deep ( range in pips ) the price channel is that price is breaking out of.

Use that information to determine if you want to trade the breakout.

[aqcmme]

Avery Sir,
In the same way, we could use this to trade between support and resistance you think?

[TheRumpledOne]

I am not sure how to answer that question.

[nextHtime]

I like to trade Breakouts, after the price pulls back with out pulling below the breakout point and then goes in the same direction of a breakout.

[nextHtime]

I like to trade Breakouts, after the price pulls back with out pulling below the breakout point and then goes in the same direction of a breakout.

[TheRumpledOne]

Post a chart or 2, nextHtime, showing this please.