P&F charts suck, don't use them...
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- PebbleTrader
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- PebbleTrader
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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.
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.
Last edited by PebbleTrader on Sat Oct 08, 2011 8:56 am, edited 1 time in total.
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- PebbleTrader
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- PebbleTrader
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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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- PebbleTrader
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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.
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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