P&F charts suck, don't use them...

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Jalarupa
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Postby Jalarupa » Sat Oct 08, 2011 2:02 pm

PebbleTrader wrote: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...


This can be shown by putting TRO MID TRO ONETHIRDOTS on the PnF MT4

Had amazing success with this so far... The stats don't lie

Excellent work PT!

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Postby PebbleTrader » Sat Oct 08, 2011 3:24 pm

Cool,

Hadn't tried those with PnF yet.

I'll give it a shot.

I modified those indi's awhile back to only put the dots on the previous candle. Helps a lot with chart clutter. I don't code MT4 but I know enough to get myself into trouble :)
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Postby PebbleTrader » Sat Oct 08, 2011 5:33 pm

Looks like the stats got it within 1 box, showing 3 to 1's:

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Postby prochargedmopar » Sat Oct 08, 2011 6:39 pm

I think this is Pretty:

http://screencast.com/t/g8iGOzhU4S

3x3
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MightyOne
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Postby MightyOne » Sat Oct 08, 2011 7:09 pm

PebbleTrader wrote:"Time (is price/range) gives the item a dollar value. " -MightyOne

What do you mean by this -----^ ? Mark-02_Smile



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MightyOne
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Postby MightyOne » Sat Oct 08, 2011 7:22 pm

To answer the which extreme (H/L?) question:

You start on the small charts and work your way up to an IF/THEN on the weekly if trading a year chart.

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PebbleTrader
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Postby PebbleTrader » Sun Oct 09, 2011 8:15 am

MO,

I hear what you are saying with the yearly low.

I don't understand the logic for protecting profit after 24 minutes? (for the hourly)

I'd be looking more at range and LL HH LC HC, or now I'd be looking at PnF reversals.

Why base it off of candles that are made up of discrete units of TIME?
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Postby MightyOne » Sun Oct 09, 2011 8:48 am

Think of it as a price target...

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Postby PebbleTrader » Sun Oct 09, 2011 9:04 am

Are the numbers (24 minutes, etc. ) based off of stats or screen time with personal experience?
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Postby PebbleTrader » Sun Oct 09, 2011 12:56 pm

The idea came from the signalbender:

Previous High - Current Low
Current High - Previous Low

Allow it's different from that...just saying where the idea came from...

See if you can find out how these would be useful...:

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