Price Action, Elliott Wave and Fibonacci
I started this thread after about 10days opening a new acc called Breaker 7Mac12.
Let's watch the performance together.
Any thoughts and opinions,even condemnation are welcomed because what matters at the end of the day is I make profit.
I developed a personalized indicator called CalvinUltimateIndiV10 to easily do the following:
-display the hour candle open,high, low and close price for the current hour and two previous hours. Also the candle body sizes, top wick and tail sizes, plus range of the candle. User can also input the timeframe for calculating the candle size/info.
-display the day open price, current price, high and low price for the day. Also the distance of the current price to the day's high, low and open price.
-display Average True range over the last 30-days period.
-user can input value for possible targets based on Elliott Wave analysis. (Initial point, first and second impulse)
-there is also an input to calculate 32.8%, 50% and 61.8% Fibonacci retracements.
-and finally my personal favorite, user enter a fixed dollar amount of acceptable loss together with StopLoss distance, the Indi will calculate amount of acceptable sane lots to trade. User can input number of orders user wishes to enter, and indi will calculate proper entry lots.
However, this indi is not complete without UltimateTradezBible, a one-page handwritten note (as I've always preferred) which is available only upon personal request.
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