06302010
This thread records the progress of the development of 'line patterns', my future trading approach.
Post #1 is open to interpretation of any TF, being anchored in the 1' TF.
Post #2 includes the 5', and post #3 the 15 to 30'.
Post #3 should bring the inclusion of all TF's into my approach that uses line patterns.
From there, my trading approach turns practical and adaptable to any situation, whereupon anyone -- me first! -- can train in it.
on using various approaches, TF's to make bsTL's
Combining multiple-TF and -approach bsTL's is an art of using several charts at a time in a way that reasoning with what each chart presents is fast enough for trading at any speed.
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my view of multiple TF's
Time frame combinations, from whatever time frame you prefer to trade from, produce different reasons to make a trade and thus affect how well your trade goes. So, I wrote some variables to begin with.
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reason
Balance (+), deviation (</>), channel (=) -- data-view reasons order. My pattern recognition (for me, using a table, others using crossing moving averages or other without explicitly paying attention to patterns) explains how balance's different varieties can channel in areas and deviate from within a pattern (or an indicator's results). There are short channels; and, disparate angles may control a deviation.
time frame
- just-touching, small-area of one screen
- just-touching, medium-area
- just-touching, large-area
- somewhat condensed or several candles-just-touching screens
- one candle holds several candles
time frame * reason
1a one reason, one time frame
1b one reason from one TF and a cursory view of a second
2 one reason each -- one TF, and a cursory view of a second
3 one reason, taken from and weighing two reasons: One reason with a weighted view of each of two TF's, and another reason with the opposite weighting
5 one reason, taken from and weighting three reasons: The last type of reason, which weighs two reasons, and one of the first three types of reasons
effort * time available to produce a reason
-- depends on type of run going for. Most multi-run reasons seem compound, of TF*reason of 2,3 or 5 - type, even when crossing at the same bars for different reasons. Effort may be changed due to nontrading reasons.
conditions of data
-- An easy data set, or one that produces lots of high-margin pips from a simple type-1a reason, does happen. Coincidence and going with the flow, planning with different sophistications of reason, and other activities adapt one to changing conditions of data.
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Part of the bsTL microverse: Overview, patterns (or, those with fewer or more candles), TF use, trading. (And its future: automatic; precise.)