The ideas that I trade by:

[Pjort]

Hello TRO, MO and Mira,
just wanna say thanks your post and answers to my post - I am looking at it carefully more time than you can imagine... LOL
HavesStarted dreaming about patterns areas and breakout ... hmmm - maybee someday I develop some psykic indicator...
Best...

[TheRumpledOne]

SweetSpotsGOLD_EIGHTS.mq4

EURUSDH1.png

I feel good every time I see new stuff

I am just working on a "student edition" version of EIGHTS
Salezy's indicator has a lot more bells and whistles.

ERROR message:
EURUSDMonthly.png


Pip counter that resets after the selected number of ticks:
EURUSDH1.png

Can you make it space the lines based on lot size and dollars per line?

So if I have 0.10 lots and want each line to be $5.00, it calculates the line spacing.

[MightyOne]

Can you make it space the lines based on lot size and dollars per line?

So if I have 0.10 lots and want each line to be $5.00, it calculates the line spacing.

No, let me explain

The first thing I do is look at the H1 chart to see if I am comfortable with stops that are 2 spaces behind the maximum buying/selling area.

Then I flip over to the weekly chart, to see how many bars are spread over 5 or 6 lines, & if a goodly number of bars fit within this range then I know that I am sized to withstand the movement of the pair.

Now all that you have to do is determine how much you want each line to be worth and which period you want to trade.

Once you do it the long way a few times you should be able to set it up in 15-20 seconds just by eyeballing it.

for_TRO.png (55.05 KiB) Viewed 3447 times

[Mira]

Then I flip over to the weekly chart, to see how many bars are spread over 5 or 6 lines, & if a goodly number of bars fit within this range then I know that I am sized to withstand the movement of the pair.

Hi MO!

I don't get this part.. why 5/6 lines? And what is a goodly number of bars? I mean.. the more the better or is discretionary?

Thank you

[buzzfxbroker]

Hello TRO, MO and Mira,
just wanna say thanks your post and answers to my post - I am looking at it carefully more time than you can imagine... LOL
HavesStarted dreaming about patterns areas and breakout ... hmmm - maybee someday I develop some psykic indicator...
Best...

I am so glad to hear that someone else dreams about patterns! I thought I was going nuts!

[MightyOne]

Hi MO!

I don't get this part.. why 5/6 lines? And what is a goodly number of bars? I mean.. the more the better or is discretionary?

Thank you

The H1 lines should be about 2% of the weekly median range.
H1: 2%
H4: 4%
D1: 8%
W1: 16%
16% is roughly 1/6 & 5 is a minimum.
7 is the maximum but we count it as "six and then some".

Goodly: considerable in size or quantity.

[TheRumpledOne]

TRO004.png (56.35 KiB) Viewed 3357 times

This is what I meant, MO.

Indicator attached.

[Mira]

The H1 lines should be about 2% of the weekly median range.
H1: 2%
H4: 4%
D1: 8%
W1: 16%
16% is roughly 1/6 & 5 is a minimum.
7 is the maximum but we count it as "six and then some".

Goodly: considerable in size or quantity.

Ahhh if bars are more than a 16% (roughly) then probably we could have:

1) a congestion
2) a mid-trend move
{3) a reversal?}

if bars are less then price is:

1) simply not moving
2) making a smaller range

But 5/6 lines are, in average, the weekly median range needed for a decent move.

Is this right?
Thank you!

[nat]

The first thing I do is look at the H1 chart to see if I am comfortable with stops that are 2 spaces behind the maximum buying/selling area.

it looks like the maximum buy/sell area is two lines below the breakouts where you labeled "buy" twice. how do you you decide on the "sell"? just a 2-3 line reversal PnF style?

[MightyOne]

The first thing I do is look at the H1 chart to see if I am comfortable with stops that are 2 spaces behind the maximum buying/selling area.

...how do you decide on the "sell"? just a 2-3 line reversal PnF style?

A simple "over/under", the bar was "sufficiently long", and it was not a breakout (then what was it?)

You can see something similar if you look at the first buy signal:
You can see that price was under the down-sloping diagonal line and then it moved above it.
There is more happening here so we look at the 3 bar range (mbar/momo/whatever) and see that it is of "sufficient" length.
We can only trade toward or away from a pattern so we select two lines and wait for price to return to the pattern.

Your maximum buy might start lower but it moves up as you feel pressured that price might leave you behind.