TheRumpledOne wrote:Nice charts there BareFoot...LOL!
Having a slightly manic episode today. One set-up running into another, into another, into another, lol.
Can one be slightly manic?
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TheRumpledOne wrote:Nice charts there BareFoot...LOL!
TheRumpledOne wrote:THE ORIGINS OF HOLOTheRumpledOne wrote:
Working on a new indicator... TRO_HOLO
HO = Highest Open
LO = Lowest Open
Remember the 3 Level ZZ Semafor indicator? Lots of people didn't like it because they thought it "repainted".
TRO_HOLO determines the highest and lowest OPEN PRICE over the last 34 bars (User Input) and plots a line there. I use 34 because the 3 of the 3 Level ZZ Semafor is the 34 period High/low. TRO_HOLO also determines the highest and lowest OPEN PRICE over the last 34 bars starting with the bar that precedes the bar it just found and plots a line there.
So you have 2 low opens and 2 high opens.
Q1) What do you see?
Q2) How can you use that to be profitable?
HINT: The OPEN PRICE is the ONLY price of a bar/candle that DOES NOT MOVE once it has been plotted!!
LeMercenaire wrote:Picked up a quickie while waiting for my Chromebook to boot up...and you know how fast a Chromebook boots up, lol.
USDCADM5asHOLOendofdaymove15thNov17.png
A typical end-of-day move from UC.
Mira wrote:LeMercenaire wrote:Picked up a quickie while waiting for my Chromebook to boot up...and you know how fast a Chromebook boots up, lol.
USDCADM5asHOLOendofdaymove15thNov17.png
A typical end-of-day move from UC.
Nice chart Le Mercenaire!
How do you trade it?
Thanks
LeMercenaire wrote:Mira wrote:LeMercenaire wrote:Picked up a quickie while waiting for my Chromebook to boot up...and you know how fast a Chromebook boots up, lol.
USDCADM5asHOLOendofdaymove15thNov17.png
A typical end-of-day move from UC.
Nice chart Le Mercenaire!
How do you trade it?
Thanks
Hi Mira,
Simple as beans on toast.
You wait for a new H1 Highest / Lowest Open. The level forms an ''Area of Interest'' between there and the Extreme.
You then drop to the m15 or m5 (or even m1) - you pick your poison.
I prefer the m5 and so I will wait for a candle to open in that area (I do bend that rule and will enter on a ''dipped'' entry, that is when price enters but doesn't necessarily open a new candle, as that's the way I used to run a method with similar DNA on the big, chunky time-frames back when dinosaurs ruled the Earth).
Once this candle has opened, you then wait for price to drop back across the level formed by the New Highest / Lowest Open and enter your trade.
On this indi, the top red dots are the upper range of the Area of Interest, the lower red(ish) not-quite-as-red dots show the entry level for a short.
Flip that for blue.
I have added a layer of Supply + Demand Zones over the top of this, as these work to lend weight to a possible entry set up, help time exits as well as being great for adding-in to an open trade.
LeMercenaire wrote:You're also not supposed to enter on a breakout candle...I tend to take that one with a pinch of salt as well
Mira wrote:LeMercenaire wrote:You're also not supposed to enter on a breakout candle...I tend to take that one with a pinch of salt as well
Oops sorry, I’ve seen it now