Postby TheRumpledOne » Sat Aug 08, 2015 5:37 pm
- eurusdh1.png (41.25 KiB) Viewed 2629 times
Anyone still using the 3_Level_ZZ indicator that I modified years ago? I believe I may have "cracked the code" on how to use this indicator for reversals. I wonder why it took me so long to SEE this?!
See the big yellow 3 at the bottom. That bar is green. What did price do? IT WENT UP FROM THERE.
See the big yellow 3 at the top. That bar is green. What did price do? It ranged.
See the big yellow 3 in the middle of the chart on top of the red candle. What did price do? IT WENT DOWN FROM THERE.
So the rule of thumb is:
trade the reversal from the top when the bar making the 3 is red.
trade the reversal from the bottom when the bar making the 3 is green.
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.