Disliked@mtharwat - how are you going with EA/Indicator development? How do you rate Pivot and S/R reliability for trading?Ignored
My big apology as I have just found about your post.
So far, I trade price action (based on my other two threads for time charts and Renko). I prefer Renko myself. The same rules in my first post in the price action thread with candlesticks apply on Renko.
I myself have not seen anything that is more reliable than scanning the 28 pairs three or four times a day based on Renko. I sometimes stay till late waiting for the price to make its move. Sometimes, (but not always), I want to see the overall price structure when a certain level is triggered. By the same token, I want to witness the momentum if there is any.
I invite anyone to allocate time and study Renko. It has not but given me more pips and success. I myself stopped even using divergence and there is no single indicator on my chart. Just the purest and cleanest Renko chart.
I am not into support/resistance as the sole or primary way of analysis. I combine it with patterns/trendlines/etc.. Everything has its place in multi-time frame analysis or multi Renko box analysis; when to use this pattern or that and when to use support and resistance.
I can elaborate more if you wish with a detailed description...
Scanning all pairs (although is sometimes demanding and titring three/four times a day) is like cooking my own food from scratch and dieting on the healthiest ingredients. I prefer my own hand-making and this has stood the test of time either for trading or dieting D:.
Sorry again for not seeing your post.