PRICE TURN

free & uncensored discussion arena for TheRumpledOne

Moderator: moderators

User avatar
TheRumpledOne
rank: 10000+ posts
rank: 10000+ posts
Posts: 11397
Joined: Sun May 14, 2006 9:31 pm
Reputation: 45
Location: Oregon
Real name: Avery T. Horton, Jr.
Gender: None specified
Contact:

PRICE TURN

Postby TheRumpledOne » Sat Jul 14, 2012 8:48 pm

PRICE TURN

Image


Price "turns" when the candle color of the current candle is not the same as the previous candle's color. In the above chart the candles that indicate a price turn up are marked in green and candles indicating the price turned down are marked in red.

You look for price to cross over the previous candle's open to confirm the turn has been made.

Image

The DOTS on the candles mark the previous open price level. You can see where price crossed the previous open and then reversed. These are entry points.

If the previous candle has a red line then when price is at/near the previous open (red dot) and moving down, you enter the trade short.

If the previous candle has a green line then when price is at/near the previous open (green dot) and moving up, you enter the trade long.

But you are only looking at one time frame and that's where the multimeter comes in handy...

Image

Some trend traders like to enter on "PULLBACKS". The multimeter makes it easy to see when price is pulling back to the next higher time frame or continuing the "trend". The light blue color means price is going up and price went up on the previous bar. Think "light blue sky". The dark blue color means price is going down and price went down on the previous bar. Think "deep blue sea".

Look at the M15 chart and you can see price is now turning up and back to the "trend" on M30. H1 is turning up AGAINST the "trend" on H4 and D1. While price is turning down on W1 and going WITH the "trend" on MN1.

Image

Please post any questions you have in this forum. PLEASE DO NOT PM ME WITH TRADING/INDICATOR QUESTIONS.

The latest version of the multimeter is attached. The line and dot indicator are in the July 2012 MT4 MOTHERLODE.
Attachments
TRO_Multi_Meter_PRICE_TURN.mq4
(14.52 KiB) Downloaded 207 times
Last edited by TheRumpledOne on Mon Jul 23, 2012 7:56 pm, edited 1 time in total.
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.

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.

User avatar
PebbleTrader
rank: 1000+ posts
rank: 1000+ posts
Posts: 1632
Joined: Fri Nov 12, 2010 2:15 am
Reputation: 0
Gender: Male

Postby PebbleTrader » Sun Jul 15, 2012 1:35 am

Nice to see you getting a break from the prepping work and getting to do some coding.
Life is just a journey

User avatar
TheRumpledOne
rank: 10000+ posts
rank: 10000+ posts
Posts: 11397
Joined: Sun May 14, 2006 9:31 pm
Reputation: 45
Location: Oregon
Real name: Avery T. Horton, Jr.
Gender: None specified
Contact:

Postby TheRumpledOne » Sun Jul 15, 2012 8:40 am

PebbleTrader wrote:Nice to see you getting a break from the prepping work and getting to do some coding.


I hope you find the indicators useful in your trading.
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.

User avatar
TheRumpledOne
rank: 10000+ posts
rank: 10000+ posts
Posts: 11397
Joined: Sun May 14, 2006 9:31 pm
Reputation: 45
Location: Oregon
Real name: Avery T. Horton, Jr.
Gender: None specified
Contact:

Postby TheRumpledOne » Mon Jul 16, 2012 3:08 am

Image

Ask yourself, "IS PRICE TURNING?" and "WHERE WAS THE LAST TURN?"

You want to trade with the last turn or wait for the next turn.

DO NOT TRADE AGAINST THE LAST TURN.
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.

User avatar
TheRumpledOne
rank: 10000+ posts
rank: 10000+ posts
Posts: 11397
Joined: Sun May 14, 2006 9:31 pm
Reputation: 45
Location: Oregon
Real name: Avery T. Horton, Jr.
Gender: None specified
Contact:

Postby TheRumpledOne » Tue Jul 17, 2012 10:38 pm

Image

Every "trend" reversal will start with a "price turn" pattern on the chart.

Identifying this pattern on all of the time frames will help you select trade direction.

I prefer to trade with the WEEKLY direction rather than against it.

When price turns against the weekly direction on lower time frames, I wait.

I will enter when price turns back to the weekly direction.

It is even better when weekly and monthly are in sync.

All you have to do is LOOK at the charts and SEE!!
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.

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.

User avatar
TheRumpledOne
rank: 10000+ posts
rank: 10000+ posts
Posts: 11397
Joined: Sun May 14, 2006 9:31 pm
Reputation: 45
Location: Oregon
Real name: Avery T. Horton, Jr.
Gender: None specified
Contact:

Postby TheRumpledOne » Wed Jul 18, 2012 3:45 pm

Image

Some people understand better in English than in pictures, charts, tables, etc...
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.

User avatar
TheRumpledOne
rank: 10000+ posts
rank: 10000+ posts
Posts: 11397
Joined: Sun May 14, 2006 9:31 pm
Reputation: 45
Location: Oregon
Real name: Avery T. Horton, Jr.
Gender: None specified
Contact:

Postby TheRumpledOne » Thu Jul 19, 2012 12:38 am

Image

TURN BARS and PSYCHO LINES...

WHAT DO YOU SEE?
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.

User avatar
Jalarupa
rank: 1000+ posts
rank: 1000+ posts
Posts: 1139
Joined: Tue Feb 23, 2010 5:50 pm
Reputation: 2
Location: South Africa
Gender: None specified
Contact:

Postby Jalarupa » Fri Jul 20, 2012 5:16 am

**OFF TOPIC** (well sorta)

TRO -

I got a idea from reading Glen Neely (as per MO's one post long long ago, didn't read it all but got this from it and I do this manually using your TRO_MID Indicator...

What Neely says is that the Highest midpoint of the candle that is at the furthest point of a Elliot Wave (as confirmed by an indicator such as TRO_Dynamic FIBS SR, or Semafors, or fractals) and the the opposite Lowest midpoint candle at the same wave, if one takes normal FIB retracements (the Fibo Tool) and places them on those Mid Points you get a very interesting view of PA and S/R...

So this is what I am alluding to in a nutshell...

Image

I donno? maybe you see the value in it...? Maybe not, but I thought I would just draw your attention to it (If I have not done so already... can't remember further back than say a week with all the sleep I've been missing)
"our deepest fear is not that we are inadequate... our deepest fear is that we are powerful beyond measure... It is our light, not our darkness that most frightens us..."

I trade using <<FX SYNERGY>>

User avatar
TheRumpledOne
rank: 10000+ posts
rank: 10000+ posts
Posts: 11397
Joined: Sun May 14, 2006 9:31 pm
Reputation: 45
Location: Oregon
Real name: Avery T. Horton, Jr.
Gender: None specified
Contact:

Postby TheRumpledOne » Sat Jul 21, 2012 5:32 am

Jalarupa wrote:**OFF TOPIC** (well sorta)

TRO -

I got a idea from reading Glen Neely (as per MO's one post long long ago, didn't read it all but got this from it and I do this manually using your TRO_MID Indicator...

What Neely says is that the Highest midpoint of the candle that is at the furthest point of a Elliot Wave (as confirmed by an indicator such as TRO_Dynamic FIBS SR, or Semafors, or fractals) and the the opposite Lowest midpoint candle at the same wave, if one takes normal FIB retracements (the Fibo Tool) and places them on those Mid Points you get a very interesting view of PA and S/R...

So this is what I am alluding to in a nutshell...

Image

I donno? maybe you see the value in it...? Maybe not, but I thought I would just draw your attention to it (If I have not done so already... can't remember further back than say a week with all the sleep I've been missing)



There are no "magic" numbers... Price either goes up or down.

KEEP IT SIMPLE!
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.

User avatar
TheRumpledOne
rank: 10000+ posts
rank: 10000+ posts
Posts: 11397
Joined: Sun May 14, 2006 9:31 pm
Reputation: 45
Location: Oregon
Real name: Avery T. Horton, Jr.
Gender: None specified
Contact:

Postby TheRumpledOne » Mon Jul 23, 2012 7:41 pm

WHAT IF YOU WERE COLORBLIND...

Image

Could you trade?

Image

Does that help you see when PRICE TURNS?
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.

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.


Return to “TheRumpledOne”