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.
2009.03.11 NOT ALL BREAKOUTS ARE THE SAME
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- TheRumpledOne
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2009.03.11 NOT ALL BREAKOUTS ARE THE SAME
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!
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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.
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.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!
Please do NOT PM me with trading or coding questions, post them in a thread.
Please do NOT PM me with trading or coding questions, post them in a thread.
- TheRumpledOne
- rank: 10000+ posts
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- Joined: Sun May 14, 2006 9:31 pm
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- Location: Oregon
- Real name: Avery T. Horton, Jr.
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- Contact:
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- TheRumpledOne
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- Location: Oregon
- Real name: Avery T. Horton, Jr.
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Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.
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