Post here how you use TRO_DYNAMIC_FIBSSR - I'll start

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jeffx
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Postby jeffx » Mon May 07, 2007 11:36 pm

TheRumpledOne wrote:If you are using a 1 min chart, wait for the dynamic support to "push" down "hard" 3 times.

A "soft" push is when support is pushed down to a new level on a candle and down again on the next candle.

A "hard" push is when support is pushed down to a new level on a candle and stays at the same level on the next candle.

If you can wait for this, the price will usually retrace 23%, 38% or 50%.

If you like using 5 min candles, then if price going down and pushing against support, wait for the candle to close. You can trade the next candle. Wait for the price to cross the previous candle's midpoint.

You'll get a feel for this as you're trading.

Also, check the distance between support and resistance. When it is "wide" enough, you can pick up the ticks easier. Checking the distance between support and the 23% fib dot will let you know when your chances of making 5 ticks are almost a "lock".

HTH.


So basically, trading a "soft" push is more or less a S/R break trade, "hard" push is a retracement trade, and the retracement trades
are higher probability to grab 5 ticks/pips or so.

If I'm understanding this correctly, maybe I can finally use the Fib S/R, instead of just the Dynamic S/R.

Thanks for the explanation

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Susana
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Postby Susana » Tue May 08, 2007 12:14 am

Contrary to what TRO said, I believe this wonderful indicator has more uses :)

Come on people, chip in !

:)
Last edited by Susana on Tue May 08, 2007 12:14 am, edited 1 time in total.

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TheRumpledOne
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Postby TheRumpledOne » Tue May 08, 2007 12:14 am

Just so you know, the Dynamic Fib S/R and the Dynamic S/R plot the S/R dots exactly the same. Don't you just love copy/paste? The Fibs dots are just a helpful visual for trading.

As far as probability, I have not run statistics on Dynamic S/R. Basically, it's TRADE WHAT YOU SEE. 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.

zeller4
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Postby zeller4 » Tue May 15, 2007 2:45 pm

Susana wrote:Contrary to what TRO said, I believe this wonderful indicator has more uses :)

Come on people, chip in !

:)


As I've been studying action of the dots during "moving market hours" i.e. not lunchtime, I've noticed that if a dynamic support dot is "pulled up" and then closes with a red 1-minute candle, I can mark that time with TRO_TRADEZONES_TIME and watch for the next move into and through the short zone. (I'm still studying what happens when it closes green. See 10:17 dot move with green candle (zone time set to 10:17) The 10:19 candle has a nearly full move through it's zone! (not shown in attached screenshot))
Attachments
TRO_TRADE_ZONES_and_ FibsSR4.png
Screenshot with zone time start at 10:27 on 1-min candles
TRO_TRADE_ZONES_and_ FibsSR4.png (7.25 KiB) Viewed 379 times

Susana
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Postby Susana » Wed May 16, 2007 12:06 am

Zeller,

Forgive my lack of IQ but I could not understand the concept, even with the chart attachment. Could you please help me understand it?

Thanks

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Susana
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Postby Susana » Wed May 16, 2007 12:19 am

Ok, just re-read it until it clicked. Interesting concept Zeller. Will study it. Time to determine something from the long side now :)

zeller4
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Postby zeller4 » Wed May 16, 2007 1:24 am

don't shortchange yourself! maybe I'm the one who needs help!

do you see when the dynamic s/r moves to a new level? new lows or highs (and the settings of the indicator) cause the blue or red dots to move to new levels (i.e. not just up as in the long green candles pushing up red) on the candle with the vertical red line, the blue dots were "pulled up" from the previous support. I've observed that when this occurs, wait for the candle to close and note the candle color (1-min in this case) red in this case brought a good follow through for more reds and I'm just toying with the zones and the timing of this occurrence. currently checking for how much of a move may come at these times...
hth

zeller4
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Postby zeller4 » Wed May 16, 2007 2:30 pm

today's choppy market sure didn't prove anything with this concept. Still studying fibsr

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