LeMercenaire wrote:aliassmith wrote:imparare wrote:
All we are saying is, if you are sitting at a open below the previous candles close you have natural midpoint bias in your favor. Its really no different then a full candle bias. Think about it.
Love a good debate.
So using midpoint on the same timeframe didn't give me any value. So that is why I pegged it to the 1 hour candle and used the 5 minute chart.
Agreed. I reckon that's the only way I would use it also.
Been testing the DOTs and although I think they could be used as a BIAS/confluence, I prefer the SMA.
The 1 Hour Bias thing made my brain churn so I changed my SMA to a 12 so it is a 1 hour BIAS based on a M5 chart.
The 20SMA would be a 5 hour Bias on a M15 chart
The 12SMA would be a 3 hour Bias on a M15 Chart so maybe I'll look at the 16SMA on a M15 chart.
MY prediction is that the changes will have minor effects.