Sure.
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DislikedI have also added a tunnel to the chart, using the 62 EMA w/ +10 and -10 levels on it. This can be used in one of two ways. When a currency is trending hard, a slight retracement might actually cause the stochastics to drop below (or above) the over/under sold line indicating a new position. In this case, I use the tunnel as confirmation of entry. If the price does not cross the tunnel I do not take the trade. Again, I typically only use this tunnel in cases of trending markets. The second use would be to always use the tunnel as added confirmation of a trade - many times the price will range within the tunnel before continuing on in the direction of the stoch signal. Up to you.
JasonIgnored
Disliked^ imbiber, what's that indicator at the bottom of your chart that says "Daily average range"? Is that an EA or simple indicator? Can you share it with us please?Ignored
Dislikedyou say, you only use tunnel in case of trending markets, how do you decide is it trending? by slope of tunnel, by observing history price or some other indicator?Ignored
Dislikedhere is audusd 1h today
the first square from left to right, u could have taken timewise as in ud prob be awake maybe and it was during an active time and the 20 was trending up nicely same with the 50 even though it was under the 20 line or oversold. 1st good trade. after that u could have switched to 15 min and added to it at 2 different opportunities till the market calmed. next box and the last one are great opportunities and could have brought a decent amount of pips. with the 20 50 and 100 trending up very very nicely and the 20 and 50 being overbought eventually and above 80 why bother with a 15 min chart? take the signals off the 1h and as u can see they were great.
dont worry about the colors im just tryin to be creative
also check out the 1h gbpjpy for a nice buy tradeIgnored