Price Action (PA) is the most powerful indicator to read charts and predict price movement. Attached you will find the PA indicator.
More info:
https://www.tradeciety.com/trading-p...ction-secrets/
https://www.netpicks.com/how-to-use-an-indicator/
https://tradingsim.com/blog/price-ac...ng-strategies/
https://www.tradingview.com/chart/AU...rns-That-Work/
My experience:
1. The EUR/USD chart only consists of M patterns. Each M is in a different font, so you cannot rely on volume, length and amplitude (VAL) but rather the pattern recognition.
2. Trade in the direction of the pattern.
3. If the direction of the pattern changes, you change as well. Go with the trend.
4. Usually the first leg and fourth leg (of the M) are bigger.
5. The second letter 'M' is usually smaller (M m M m M m)
6. Don't trade previous M's on the same timeframe
7. Trading the third leg of the letter M (in the direction of the main trend) is saver than the other legs.
8. Check the M pattern on: a) the price chart b) and other indicators (i.e. oscillators)
How to make profit:
1. pattern recognition: read the pattern, understand where you are inside the pattern, the legs of the same M pattern are usually of similar format.
2. use the font recognition techniques. Can anyone send a link with research of how to recognize a character (i.e. M letter) in different sizes, shapes, fonts?
3. as robots become more modernized they are able to read handwritten characters better. Which techniques do they use?
Please share your own experience.
More info:
https://www.tradeciety.com/trading-p...ction-secrets/
https://www.netpicks.com/how-to-use-an-indicator/
https://tradingsim.com/blog/price-ac...ng-strategies/
https://www.tradingview.com/chart/AU...rns-That-Work/
My experience:
1. The EUR/USD chart only consists of M patterns. Each M is in a different font, so you cannot rely on volume, length and amplitude (VAL) but rather the pattern recognition.
2. Trade in the direction of the pattern.
3. If the direction of the pattern changes, you change as well. Go with the trend.
4. Usually the first leg and fourth leg (of the M) are bigger.
5. The second letter 'M' is usually smaller (M m M m M m)
6. Don't trade previous M's on the same timeframe
7. Trading the third leg of the letter M (in the direction of the main trend) is saver than the other legs.
8. Check the M pattern on: a) the price chart b) and other indicators (i.e. oscillators)
How to make profit:
1. pattern recognition: read the pattern, understand where you are inside the pattern, the legs of the same M pattern are usually of similar format.
2. use the font recognition techniques. Can anyone send a link with research of how to recognize a character (i.e. M letter) in different sizes, shapes, fonts?
3. as robots become more modernized they are able to read handwritten characters better. Which techniques do they use?
Please share your own experience.
Attached File(s)
Candles-Price-Action-Indicator.ex4
39 KB
|
1,669 downloads
Candles-Price-Action-Indicator.mq4
22 KB
|
2,001 downloads
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