The price action on these charts as I see it:
1) Extending a move - if we've been paying attention, this should mean
2) Reversing - Depending on the chart TF, and where you are on Time Frames That Matter, this is an opportunity to shed lots, an opportunity to add lots, or #3.
3) Noise (for lack of a better term) - "Wicks show not the way." - MO
One is Not a Trend
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scar wrote:The Trend Indy will not work with a P&F chart, since it looks for two consecutive up or down closes.
But the P&F for the same area as the above charts show how P&F condenses this information very efficiently:
Trade P&F with an understanding that it is almost picture
perfect the same as a chart with time.
Selecting a box size and reversal amount is like telling the
P&F chart to find you a time based chart with a specific set
of characteristics.
scar wrote:The price action on these charts as I see it:
1) Extending a move - if we've been paying attention, this should mean
2) Reversing - Depending on the chart TF, and where you are on Time Frames That Matter, this is an opportunity to shed lots, an opportunity to add lots, or #3.
3) Noise (for lack of a better term) - "Wicks show not the way." - MO
I actually thought of TS when I was thinking about ways to get traders to hold onto their good trades just a little longer.
If you want to exit then wait for a black or red close
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- bredin
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scar, try linking mo's trendsetter to a 3xCC chart of P&F.
just sayin is all
G.
just sayin is all
G.
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Is price closing higher or lower than something? Simple yet powerful question. ..MO
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bredin wrote:scar, try linking mo's trendsetter to a 3xCC chart of P&F.
just sayin is all
G.
Sure!
Posted version 1.1 of the Indy on the Insanity thread.
http://insanityindustries.net/viewtopic ... 3&start=10
I think I agree with MO on using this with P&F, but I might be able to get used to having this on there. I like simplicity, tho'.
Setting "CandleBars" to 2 and "LookBack" to 1 (the default) causes the indy to work the same as the original. Setting "LookBack" to 2 is the equivalent of inputting data from a 2-bar CC (and so on). For a P&F, this compares a green bar to the last green bar and a red bar to the last red.
The chart below is set at CandleBars = 2 and LookBack = 2.
Last edited by scar on Tue Feb 07, 2012 1:02 am, edited 1 time in total.
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