MightyOne wrote:Relevant Information:
"anything within the last two bars that has interacted with the active candle"
If the high/low has not been touched then don't use it.
If price didn't trade through a midpoint then don't use it.
Anything within the active bar has, by MO definition, been interacted with.
In the picture below, price recently interacted with the low of the previous bar so that is your focus.
The current midpoint doesn't matter because you are already looking for longs above and shorts that are below
the previous low extreme.
If the midpoint exceeds the low then it becomes more important than the low.
If price leaves the midpoint behind then you can use HOLO or a daily open.
Again, if it is not within the last 2 bars and the active bar has not traded through or interacted with it then don't use it.
Hi Mighty One:
I understood most of the above, expect this one line below. Love the idea of looking at Hi/Lo/Midpoint of last 2 bars which the current active bar has interacted with.
" If price leaves the midpoint behind then you can use HOLO or a daily open.."
Are you refering to HOLO on any intraday timeframe of ur choice? or did u mean something else?
Also, if price leaves the midnight behind, woudn't it also leave todays active daily open behind? In your chart for example, price is already way below daily open....or were u refering to a weekly open / monthly open / an earlier day open from a while back? Thank you