After carefully studying the behaviour of the Chikou Span, I came to the conclusion (rightly or wrongly), that it is drawn based on the current price and one cannot draw a horizontal line where it stopped abruptly and retraced. (My idea was to build an indicator that could draw that horizontal line and draw a next one when the present direction changes again with up to 4 horizontal lines so that we can see where the resistance/support levels will be forming in future)
Much to my embarrassment, I realised that my enthusiasm exceeded my understanding of the Chikou Span.
So, other than the fact that it can show you when the direction changes and therefore an entry, I cannot see what other benefit it has and for THAT I need you to help me understand it better, plse.
Looking forward to hearing from you.
Best wishes.
Much to my embarrassment, I realised that my enthusiasm exceeded my understanding of the Chikou Span.
So, other than the fact that it can show you when the direction changes and therefore an entry, I cannot see what other benefit it has and for THAT I need you to help me understand it better, plse.
Looking forward to hearing from you.
Best wishes.
Hercs