This is a live example. Daily bias and momentum up, 240 min moving up towards the zero line albeit still red as is bias on this timeframe. It's also an indecisive bar so I can't say this is the strongest setup I've ever seem in my life. It's also a continuation play on the Daily rather than a turning point, one of my examples above showed an earlier entry.
In it's favour is that we have broken resistance and come back to retest it so it's a resistance turned support scenario. If it does want to kick on, this might be a natural place for it to do so. Time will tell.
Another update. It has printed a bullish sign, Mother Bar (MB) followed by an inside bar followed by a bar piercing the low of the MB but which then closes back inside the range of the MB (a fakey in other words). However, that last bar did have a bearish close to it. FOMC up in a bit as well so that might shake things up one way or the other.
One thing I did miss however dozy arse that I am was the bearish train tracks which printed yesterday on the Daily chart which may well have altered my thinking. Still, we're in now, good or bad.
I'm not looking for any new entries now until after FOMC.
-1R. On to the next one.
Thanks Jack for the idea...seen it before..should work.
Here´s an indi that works very closely to the one you posted: DTOSC.
There´s a long signal on GBPUSD 240...and the dayly DTOSC is Bullish...the bar closes soon...
Guess you can do the same on 240 /H...
The lower the TF the tricky it gets, but you get more signals...
This thread may be of help
http://www.forexfactory.com/showthread.php?t=470340 (how to compile old mql4-files)
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