Indicators show the past. Price Action "Indicates" the future.
SRDC II Channel of the day 74 replies
Discussion on EA pertaining to SRDC methods 40 replies
Discussion on Indicators pertaining SRDC 62 replies
SRDC II Journal for All 11 replies
SRDC II Charts posting and discussion pertaining to it 37 replies
Quoting compro99DislikedYesterday Bullish Bar
================
Long it at yesterday High and Short it at yesterday Open.
Yesterday Bearish Bar
================
Short it at yesterday Low and Long it at yesterday Open.
This is correct now !Ignored
Quoting 4rexDislikedRoshan,
Would you consider this a channel?Ignored
Quoting OrangeRoshanDislikedI would rather candles with a light background for es standardization.
Anyway, look at the chart I enclosed. Hope that pips.
MEDIAN
Watch how the price move up down, start and settle near the median (use period saperator). This way you will know where the price will go next. After drawing on Daily, draw on H1 and use it as Micro trading the Daily candles.
May your chart pips positivelyIgnored
Quoting 4rexDislikedRoshan,
Thanks again, es? what is that? Your chart is not easy to read but are you using the strato? How about using Bollinger Bands? I am a bit confuse with the channel idea...sorry. I am trying to incorporate it into SRDCIgnored
Quoting OrangeRoshanDislikedLOL
es is EZ (easy) a type mismatch. That was your chart, sorry I make it smaller to follow the forum's maximum rule.
Try drawing the SRDC channel or even Pitchfork (similar) on the 1 hour chart. You will see, price starts at the median, move either to the High and low then back to the median at the end of the day. Its not perfect, but thats the general idea.
Now, How to apply to SRDC? When the candles is near to the channel (H 0r L), the chances of it breaking the trend is slim (unless a trend change). So, the only probable direction is towards the median and the opossite trendline.
See the prvious day's H & L (S&R). Since you have establish a probable direction, it is only logical to enter a trade following this direction. Early entry will be possible without waiting for it to break the previous H & L (actually this is part of level 2 explaination).
In the case of price near the trend line (H&L), T1 is the Median & T2 is break of previous day's H&L (S&R) and T3 is the opposite Trend. Proper Money Management will satisfy your lust for Jaba's GF, oppss sorry I mean positive pips!!
The rest is reversal!! When you can master this method, a day range can produce pips equal to 1 day range x 1.5. Eventually, the price will goback to the median again at end of the day!!
Understand the above statements, and SRDC level pandora's box is open!!Ignored
Quoting AlexFXDislikedHey "Orange",
Do you have a set of rules for drawing the channel lines or is there a custom indicator for this?
AlexIgnored
Quoting llambert3DislikedI know Orange said don't set up a trade in the same direction again because buying power may be over so today long would be over. BUT, what if you set it up 1 pip higher than the high so far. This in case some new buying power comes along. It is hard to test this on the daily charts because you don't know the details behind the day. Anyway, just thought I'd ask that question to see what others thought.
I traded compro's variation today and got 7 pips.Ignored
Quoting OrangeRoshanDislikedI havent complied the rules in a standard manner, coz im so used to seeing the candles, a glance will click my thoughts to draw it. But, I will try to simplify it below.
Rules on 1hr:
1. Use Euiqdistant Channel to contain the latest trend within the channel
2. 1 day channel is not very accurate
3. 2 days channel will show a trend
4. 3 days channel will complete a channel.
5. Find the Highs of the 1-2-3days and the lows which touches the trendline the most!! = Channel. An extreme H & L may not count!!
6. Adjust as the next day candles finish forming.
7. Draw a Median (parallel to the Channel)
8. A perfect channel will be when you can draw, the start and end of day to be near or on the median. However sometimes this is not possible. The nearer the median to the day start and end the better.
9. use the end of day saperator.
10. Use candles & Bear black and bull white when possible. And light background so Jedi dont have wear glasses!! LOL
Channel Jedi, where PIPs eposide 1-99 are shown!!Ignored
Quoting llambert3DislikedPip are you using yesterday's high/low? or a 60 minute? I couldn't tell from your chart.Ignored
Quoting PipControlDislikedI used yesterday's Open/Close/High/Low on 1 hour chart. Did I do it wrong?
I go short at yesterday's close and make pips.Ignored
Quoting llambert3DislikedOk, let me say this - orange strategy as posted you would use high/low from previous day. If you are using compro's variation you have to look at yesterday's candle. If green buy 1 pip higher than yesterday's HIGH, sell 1 pip lower than yesterday's OPEN (not close)... If red (down day), sell 1 pip lower than yesterday's LOW, buy 1 pip higher than yesterday's OPEN (again not close).
If you use yesterday's close, the chances the new daily candle going 1 pip above/below it are probably near 100%, but you may not get pips that way before it reverses.Ignored