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Joe Ross consolidation Indicator - help needed

  • #41
  • Aug 7, 2020 2:31pm Aug 7, 2020 2:31pm
Just looked at the post where there are multiple 5bar patterns. If you start and look back 5bars then move forwards then i believe this shouldn't happen. But is this what you want.
  • #42
  • Aug 7, 2020 8:11pm Aug 7, 2020 8:11pm
Quoting Spikehunter
Hi,I am always interested in others thinking. I have had the Ross info for years but never really used it. Is always seemed a bit academic. Trying to incorporate his ideas into a strategy never seemed fruitful. Anyway, what exactly are you trying to achieve. Finding a 5 bar pattern where the last 4 bars close within the first bar high/low is not difficult. I did see one example where the pattern occurred within another, I can't believe that is correct, however,that may be what happens. What am I likely to gain from this exercise.
To be honest I have not look at other things from Ross, I know that many people uses the Ross Hook and things like that but I do not.

Yes a consolidation can happen inside another consolidation.
The way Ross explains and finds this congestion zones is very good and quick to spot
The aim of the thread was to create and indicator to spot them

Kind Regards
  • #43
  • Aug 7, 2020 9:05pm Aug 7, 2020 9:05pm
Quoting Frag8383
{quote} To be honest I have not look at other things from Ross, I know that many people uses the Ross Hook and things like that but I do not. Yes a consolidation can happen inside another consolidation. The way Ross explains and finds this congestion zones is very good and quick to spot The aim of the thread was to create and indicator to spot them Kind Regards
Hi

It is not easy to have an indicators to plot all the price congestion on charts.
Joe Ross has his own way to see them and he counts the number of price bars - for ledges, congestion, range, etc.
I would start looking on Daily price bars, and for every swing high bar or swing low bar, and the next 2 bars following the high or the low then only I can determine the next swing point 2 and the next point 3, at minimum there must be 1 bar between 1 and 2 and between 2 and 3. But I don't think Joe Ross has this one bar between 1-2 and 2-3 as his rule. I often see his charts where point 2 and 3 are consecutive bars.

Example XAUUSD Daily
Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSD Daily Aug 07 closed.png Size: 31 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #44
  • Aug 8, 2020 3:42am Aug 8, 2020 3:42am
Quoting Frag8383
{quote} To be honest I have not look at other things from Ross, I know that many people uses the Ross Hook and things like that but I do not. Yes a consolidation can happen inside another consolidation. The way Ross explains and finds this congestion zones is very good and quick to spot The aim of the thread was to create and indicator to spot them Kind Regards
I don't understand why you need an indicator when it's easy just to look at a chart. Draw a 5 box rectangle and move it. Historical occurance don't mean much. I was hoping you had more.
  • #45
  • Aug 8, 2020 5:25am Aug 8, 2020 5:25am
Quoting Spikehunter
{quote} I don't understand why you need an indicator when it's easy just to look at a chart. Draw a 5 box rectangle and move it. Historical occurance don't mean much. I was hoping you had more.
I trade the 1 min chart, having to flip charts and take quick action plus having to count everytime that I change charts is annoying, is not that is difficult,

Plot the range detective 3 on the chart and see how easy your chart becomes
  • #46
  • Aug 28, 2020 10:10pm Aug 28, 2020 10:10pm
Quoting emmanuel7788
{quote} Hi It is not easy to have an indicators to plot all the price congestion on charts. Joe Ross has his own way to see them and he counts the number of price bars - for ledges, congestion, range, etc. I would start looking on Daily price bars, and for every swing high bar or swing low bar, and the next 2 bars following the high or the low then only I can determine the next swing point 2 and the next point 3, at minimum there must be 1 bar between 1 and 2 and between 2 and 3. But I don't think Joe Ross has this one bar between 1-2 and 2-3 as...
Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSD Daily Aug 07 closed.png Size: 31 KB


I thought I post an update now:

Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSD AUG 28 Rh 1-2-3 setup 29-8-2020 10-56-11 am.png Size: 23 KB


in the lower timeframes , H1 and M15 you will see the D1 Inside Bar consolidation which you can day trade the very short-term
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #47
  • Aug 29, 2020 6:24am Aug 29, 2020 6:24am
Quoting emmanuel7788
{quote} {image} I thought I post an update now: {image} in the lower timeframes , H1 and M15 you will see the D1 Inside Bar consolidation which you can day trade the very short-term
This is so true my friend. Many pips can be made with this pattern & NO indicator is really needed.
  • #48
  • Last Post: Aug 29, 2020 2:28pm Aug 29, 2020 2:28pm
Quoting acetrader
{quote} This is so true my friend. Many pips can be made with this pattern & NO indicator is really needed.
Yes, let's make some money next month.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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