Disliked{quote} unfortunately I have not. I would be curious to discover the content !Ignored
- #5,308
- Edited Nov 5, 2023 2:32am Nov 4, 2023 6:28pm | Edited Nov 5, 2023 2:32am
Would love to know more, looks very very interesting well done
attached above are two images:
The first image BUYSETUP with blue vertical lines and second image with SELLSETUP with red vertical lines
by grace of god, the idea presented here is like this:
(i) Take fibo Time zones tool from MT4/MT5 add 4 levels of each equal interval i.e. "-1,0,1,2"
(make sure 0 & 1 are swing low(SL) & swing high(SH) respectively, Swing Low means=Price must breakout to high of lowest low/equal low bar with close at or above its high, Swing high means Price must break to the low of highest high/equal high bar with close at or below its low. Make sure Swing high confirmed before price touch the low of Swing Low)
(ii) lable them -1=-1LP, 2=2LQ
(iii) Take fibo retracement tool with two levels 0 & 1
(iv) lable them to see price level also i.e. 0=L-%$, 1=H-%$
(v) connect fibo retracement tool level 0 with 0 of fibo time and fibo retracement tool 1 with 1 of fibo time
(vi) now project the horizontal line to the left from fibo high & mark the projected bar as P (make sure lowest low is fibo L only while we look from high of P to the right side)
(vii) now project the horizontal line to right from bottom of fibo L & mark the projected bar as Q
(viii) recall point (ii) in which -1=-1LP= i.e. left side last vertical blue line must standing any where but left side of P only.
(ix)recall point (ii) in which 2=2LQ=i.e. right side last vertical blue line must standing any where but left side of Q only.
(x)if all point (i) to (ix) ok, look for buy limit at bid price break of low of L i.e. in Q itself.
(xi)exit at bid price hit to the high of H i.e. projected line to right side from H.
for this setup maximum drawdown(MDD)recorded before we get the RETURN ON INVESTMENT[ROI]=[(H-l)/(H-L)]*R=[(0.64411-0.64328)/(0.64411-0.64373)]*R=2.18R
Remember any INVESTMENT has RETURN ON INVESTMENT[ROI] but not LOSS ON INVESTMENT[LOI]. Hence it is very important how to MANAGE THE DRAWDOWN but not GIVEUP THE DRAWDOWN.
KABIR IS ALMIGHTY GOD. RIGHT WAY OF WORSHIP=ROI, WRONG WAY OF WORSHIP=LOI
- #5,316
- Jan 18, 2024 10:59pm Jan 18, 2024 10:59pm
- Joined Jan 2009 | Status: Trader | 1,617 Posts
"GIVE ME 3 POINTS IN SPACE IN TIME AND WATCH ME CREATE MAGIC."
{quote} Is this possible in index like this NSE:NIFTYBANK ? Ticker available in TV.
Banknifty future 15 min
{quote} @badcatstealf, Banknifty future 15 min {image}
