DislikedIwanna put it in a working formula, that deals with things "objectively" not "subjectively". It is very hard, and needs a lot of know how, observing, management, discipline, accuracy and trials.Ignored
How do you define objectively what the trend is? I personally came to the conclusion that there is no THE trend but MY trend, defined according to my
trading horizon. You gave an algorithm to determine the trend. 21vs7 tried it and said "well, looks good but isn't that a bit too long?" Not that anyone is right or wrong, you just don't have the same trading horizon.
You will quickly, if not already, have to answer questions like "how small is small enough for the body of a spinner top to be a doji?". Did you ever measured the size of the body of a candle to read PA? Me never. But a computer can only play with numbers.
How deep do you require a retracement swing to form a higher low? Is one pip less no long enough?
A S/R algorithm will have to work on some historical data. How much? Did you ever had the idea of counting the number of bars on your screen before drawing horizontal S/R levels? I'm sure not.
Here are two of my indis. I'm very far from satisfied of them... But thus far the best I could do.
No greed. No fear. Just maths.