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PebbleTrader
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Postby PebbleTrader » Sat Oct 08, 2011 7:53 am

Life is just a journey

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Postby PebbleTrader » Sat Oct 08, 2011 8:33 am

Is anyone aware of an indi that scales your vertical scale to a user defined parameter in pips? It would also fix the scale so it wouldn't change.

So if you input 100, for 100 pips, then your vertical scale would be 100 pips high and there would be 10 sweetspots you would be able to see and then to see more you would pan up or down.
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Postby PebbleTrader » Sat Oct 08, 2011 8:50 am

For scalping or adding:

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Postby PebbleTrader » Sat Oct 08, 2011 9:02 am

^-----------So after a 60 pip or more reversal, the next reversal will be 20, 30 or 40 pips 76% of the time...
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Postby Jalarupa » Sat Oct 08, 2011 9:38 am

PebbleTrader wrote:^-----------So after a 60 pip or more reversal, the next reversal will be 20, 30 or 40 pips 76% of the time...


BODY IN DIRECTION OF PROFIT WICK IN DIRECTION OF LOSS :P

Gotta love the numbers, they don't lie :)

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Postby PebbleTrader » Sat Oct 08, 2011 12:04 pm

Jalarupa,

Armed with the above information, now let me present to you the following. The ratio of the large reversal to the reversal that follows. 8 boxes up and 4 boxes down on the next reversal would be a ratio of 2 (2 To 1):

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Postby PebbleTrader » Sat Oct 08, 2011 12:06 pm

Ratios of 1 To 1, 2 To 1 and 3 To 1 happen 84% of the time...

I hope I am not disappointing you by making this too easy?
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Postby PebbleTrader » Sat Oct 08, 2011 12:15 pm

Combining the two, we know the stats for 20, 30 or 40 pips reversals happen 76% of the time after a 60 pip or more reversal. Once we know the extent of the reversal, basically it reverses, then we know that ratio stats that it will likely be 1 To 1, 2 To 1 or 3 To 1 of the large bodied previous reversal 84% of the time. Going with the median of both with an I/T line should give a good success rate...
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Postby PebbleTrader » Sat Oct 08, 2011 12:21 pm

I am not suggesting that you blindly enter into a trade based on the stats. It is in the context of the whole that makes this powerful.

It is like you are building that shed out back, at one moment during the "building process", the hand saw, pencil and straight edge will be VASTLY more important than your hammer or other "tools" for that matter.
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Postby PebbleTrader » Sat Oct 08, 2011 12:36 pm

It's about collecting the right "tools" and knowing WHEN to APPLY them.

:)
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