I like this a lot !
Great work and thanks for sharing.
Great work and thanks for sharing.
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DislikedBytebodger,
A thought-provoking concept you have developed.. thanks!
I would like to ask if your number counting ever resets to zero - technically, we could have very large numbers if we use hourly bars and have been in an up/downtrend for weeks.Ignored
Dislikedi think i get it now, it's not about the highest or lowest point on the chart is more about the last count for either direction.
So if we look at this daily chart we have a 6-2 in favour of the downside as we don't count the 0
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am i getting closer - Bears have the advantageIgnored
DislikedBytebodger,
A thought-provoking concept you have developed.. thanks!
I would like to ask if your number counting ever resets to zero - technically, we could have very large numbers if we use hourly bars and have been in an up/downtrend for weeks.Ignored
DislikedI was trying to answer this question: "OK, so we are seeing an up-bar. Then how long has it been since the high in this up-bar has been achieved?" Then I just started writing the numbers on the chart.Ignored
If you have a strong down bar but you haven't seen any weak up bars, then I think there's a strong chance that the uptrend continues. If the up bars start to weaken (their counts get smaller) but the down bars stay weak as well, then it is very possible that the pair is "idling" while it waits for the next breakout.
DislikedIt can easily be used as a mechanical system(not perfect but still very good), for exsample on daily chart, I made some tests,-
From 2008 til 2009 it gives about 1076 pips
From 2009 til today it gives about 1942 pips
It is not any magic but it is profitable. I tested eur/usd .Ignored
DislikedIt can easily be used as a mechanical system(not perfect but still very good), for exsample on daily chart, I made some tests,-
From 2008 til 2009 it gives about 1076 pips
From 2009 til today it gives about 1942 pips
It is not any magic but it is profitable. I tested eur/usd .Ignored
DislikedHas anyone thought to make a dashboard, or meter of the indicator
showing the differant time framesIgnored
DislikedJust finished your thread & it is outstanding along with being most simplistic. You are on to something that is most thought provoking.
What about the 15M & 30M tf's?
Thanks & keep sharing your thought provoking information.Ignored
DislikedNext, on those longer timeframes, having a larger up vs. down count disparity does make the signal more powerful / profitable and cuts down on some whipsaw type trades.Ignored
DislikedFinally, because it is a breakout type strategy / concept, entries tend to be buying into strength and selling into weakness. When you get V bottoms and inverse V tops, the strategy has a difficult time switching position because the opposing count will be highest at these extremes and unless there is some type of small pullback at the start of the new trend, there will be no timely reversal signal. So I would classify it as a breakout type strategy with an opposite pullback requirement in order to trigger a timely reversal (emphasis on timely)....Ignored
Dislikedit appears that the general concept of the high/low count and comparison can be applied to other things than the close, high and low prices .Ignored