Norbecker, I'm glad you liked it.
Trinity, This indicator simply lets you look at a more detailed picture of what's going on inside the daily bar, without having to plot\remember the levels from a daily chart.
Vegas wrote:
The 50% retracement is only a day rule and does not carryover to the next day. Once you have recognized a potential reversal day in progress, then you can use this 50% retracement rule.
I don't actually get how Vegas spots potential reversal days (maybe I should re-read the thread and the docs). My methods of spotting reversals are not as effective as I would want them to be (they are definitely too complicated), so I guess you don't want to know how I do it. Instead, let's try to understand Vegas's 50% retracement method.
Trinity, This indicator simply lets you look at a more detailed picture of what's going on inside the daily bar, without having to plot\remember the levels from a daily chart.
Vegas wrote:
The 50% retracement is only a day rule and does not carryover to the next day. Once you have recognized a potential reversal day in progress, then you can use this 50% retracement rule.
I don't actually get how Vegas spots potential reversal days (maybe I should re-read the thread and the docs). My methods of spotting reversals are not as effective as I would want them to be (they are definitely too complicated), so I guess you don't want to know how I do it. Instead, let's try to understand Vegas's 50% retracement method.