The channel format is a part of a template that was originally developed for Orange Roshnan's SRDCII system (check the thread, lots of good stuff there). Much of the method is about channels and price movements in the channels.
The channel I've used is a Fib channel, and when the template is activated, the additional lines are automatically drawn in the channel.
You can use additional lines (or the four quartals) for openings. FOr instance, don't open a buy position if the price in topmost quartal during uptrend, even if other indicators like stochs would propose that. Or, whenever the lowest quartal is entered during uptrend, open a buy position.
Lines can also be used for exits, e.g. close half of your position when the middle line is crossed, and let the rest run.
The SRDCII method description contains a collection of rules that can be applied with the template.
R
The channel I've used is a Fib channel, and when the template is activated, the additional lines are automatically drawn in the channel.
You can use additional lines (or the four quartals) for openings. FOr instance, don't open a buy position if the price in topmost quartal during uptrend, even if other indicators like stochs would propose that. Or, whenever the lowest quartal is entered during uptrend, open a buy position.
Lines can also be used for exits, e.g. close half of your position when the middle line is crossed, and let the rest run.
The SRDCII method description contains a collection of rules that can be applied with the template.
R
Attached File(s)
SRDC_Level_II-V2.pdf
856 KB
|
2,670 downloads
Attached File(s)
srdc_level_ii_daily template.tpl
7 KB
|
445 downloads
DislikedRocroy, on your charts you're using a lot of lines for your channels, could you please explain a little what is the principle of drawing them or it's just an indicator that does them for you automatically? Thnx.Ignored