trading is like dancing, don't think and just listen to the music!
- #1,301
- May 27, 2020 12:13am May 27, 2020 12:13am
- Joined Aug 2010 | Status: absolute beginner | 5,463 Posts
- #1,303
- May 27, 2020 5:57am May 27, 2020 5:57am
- Joined Aug 2010 | Status: absolute beginner | 5,463 Posts
trading is like dancing, don't think and just listen to the music!
- #1,305
- Aug 2, 2020 1:00pm Aug 2, 2020 1:00pm
- Joined Aug 2010 | Status: absolute beginner | 5,463 Posts
trading is like dancing, don't think and just listen to the music!
- #1,307
- Oct 23, 2020 5:21am Oct 23, 2020 5:21am
- Joined Jan 2013 | Status: Trader | 4,386 Posts
MA provides the market's current direction and strength.
- #1,309
- Jun 9, 2021 7:08pm Jun 9, 2021 7:08pm
- Joined Jul 2011 | Status: Gold Again | 10,553 Posts
Sorry guys, how do you know when to start the candle count, im finding it a little confusing
Simply look at today's close, is it above, or below the close of the previous 2 days?
That's it, 1 - 2 - 3, maybe 4 or 5 depends on the market
See this chart for examples
It takes a lot for me to IGNORE you, but you can try.
- #1,311
- Jun 9, 2021 7:17pm Jun 9, 2021 7:17pm
- Joined Jul 2011 | Status: Gold Again | 10,553 Posts
I'm working on a close recognition of something similar to this, and also along the line of Demark counting but way simpler. Using the Highs and Lows as more important levels than purely the Close, however.
Here are the "rules" or guidelines,
4 Bar Fractal Indicator
The 4-bar fractal is a simple measure of a turning point. It is mechanical, so it is easy to explain and easy to implement. It is reliable, but don’t expect miracles. It will catch some sustained trend moves, but you will also have your fair share of small losses and small wins because you get stopped out.
As the name implies, it is composed of 4 candles (or bars). It works in any time frame. The longer the time frame you are viewing it on, the more of an impact the signal is likely to have.
Buy Signals
(1) The CLOSE of the current bar (1) must be higher than the HIGH of the previous bar (2)
(2) The CLOSE on this bar (1) must be higher than the HIGH of the bar three bars back (4)
(3) If those conditions are met, we have a BUY SIGNAL
Sell Signals[/color]
(1) The CLOSE of the current bar (1) must be lower than the LOW of the previous bar (2)
(2) The CLOSE on this bar (1) must be lower than the LOW of the bar three bars back (4)
(3) If those conditions are met, we have a SELL SIGNAL
And using the same chart, no excuse for missing out if you are slow to enter
even an Inside Day there if you like those
Here are the "rules" or guidelines,
4 Bar Fractal Indicator
The 4-bar fractal is a simple measure of a turning point. It is mechanical, so it is easy to explain and easy to implement. It is reliable, but don’t expect miracles. It will catch some sustained trend moves, but you will also have your fair share of small losses and small wins because you get stopped out.
As the name implies, it is composed of 4 candles (or bars). It works in any time frame. The longer the time frame you are viewing it on, the more of an impact the signal is likely to have.
Buy Signals
(1) The CLOSE of the current bar (1) must be higher than the HIGH of the previous bar (2)
(2) The CLOSE on this bar (1) must be higher than the HIGH of the bar three bars back (4)
(3) If those conditions are met, we have a BUY SIGNAL
Sell Signals[/color]
(1) The CLOSE of the current bar (1) must be lower than the LOW of the previous bar (2)
(2) The CLOSE on this bar (1) must be lower than the LOW of the bar three bars back (4)
(3) If those conditions are met, we have a SELL SIGNAL
And using the same chart, no excuse for missing out if you are slow to enter
even an Inside Day there if you like those It takes a lot for me to IGNORE you, but you can try.
