3clipz3 DTB RPS System

[TheRumpledOne]

[noone22]

There are a lots of speculations in this thread
(and not only)
about Breakout and Reversal.

Could someone submit a definition of these 2 terms
(or update mine ones below),
because I'm confused - whether it is breakout from
trendlines (vertical or inclined ones), or from pivot,
or from support-resistance,
or breakout from something else
or something absolutely different from the above,
which all understand without saying,
only noone have no idea what it is.

According to investopedia
http://www.investopedia.com/terms/b/breakout.asp
Breakout means price movement through an identified
level of support or resistance, which is usually followed
by heavy volume and increased volatility.
Traders will buy the underlying asset
when the price breaks above a level of resistance
and sell when it breaks below support.
In practice, a breakout is most commonly used to
refer to a situation where the price breaks above
a level of resistance and heads higher,
rather than breaking below a level of support
and heading lower.
Once a resistance level is broken,
it is regarded as the next level of support
when the asset experiences a pullback
Most traders use chart patterns and other
technical tools such as trendlines to
identify possible candidates that are likely
to break through a support/resistance level.
A breakout is the bullish counterpart to a breakdown.

http://www.investopedia.com/terms/r/reversal.asp
Reversal - means change in the direction of
a price trend. On a price chart, reversals undergo
a recognizable change in the price structure.
An uptrend, which is a series of higher highs
and higher lows, reverses into a downtrend
by changing to a series of lower highs
and lower lows.
A downtrend, which is a series of lower highs and
lower lows, reverses into an uptrend by changing
to a series of higher highs and higher lows.
Also referred to as a "trend reversal", "rally" or "correction".
A reversal can be a positive or negative
change against the prevailing trend.
Technical analysts watch for these patterns because
they can indicate the need for a different
trading strategy on the same security.
For example, if a technical analyst holds stock
ABC and notices a reversal pattern, he may want
to consider closing his existing long position
and assuming a short position
to capitalize on the potential downward
movement of the stock's price.

[Humble]

The definitions you have quoted seem good to me.

[BlackPearl]

Does anyone have an alarm indicator that can be used to Break Outs on 3Clipz system? I would like to have an alarm that will alert me to a breakout when it occurs or gets, say, within 5 pips of occurring.

Thanks in advance,

BP

[forexbob]

thanks for all the efforts kevin, and the added pics to the 1.4 version.
missed the mitsu eclipse on the first page

[vladv]

Thanks for the latest update,3clipz3!

[AndreasF]

3C, you did an excellent job!
Thanks for all your efforts to help us.

Andreas

[charleyhankins]

Thanks so much for your time and efforts in "teaching us to fish".

you rock!

CH

[forexbob]

3clipz,

just demotrading it now. previous days did ok with breakout trades.

only noticed that in your 1hr template you have loaded the bullsandbears indicator from TRO , which shows bullish/bearish message.

in the inputs showmessage is false. so the message should not be there
but it is shown, only never changes. (maybe there is an updated version of this indi)
or if not better to have the input value set to true.

nevertheless thats just a minor remark. mostly looking to the 1m chart.

[forexbob]

to keep you out of trades, when news is coming as 3clipz writes ....
it is maybe handy to have a simple indicator attached
which reminds you for news.

there are several, but the most simple one is probably at

http://www.forexfactory.com/showthread.php?t=19293

ofcourse you can just have the calendar open in a seperate
browser window. but i like it to have it on my mt4 screen