For those that asked. Period converter.
Hi jarroo,
I am new to this thread. Reading from the 1st post and now up to page 140. I can't get this period converter work, could u pls guide me a bit?I already put the file in experts/indicator. When i open it, what should I do with the setting?
And also what are "traffic" and "ppz"?
Thanks in advance
thanks for posting the indicot needed this is wht i been looking for..i was actually almost going to change my platform as 2 hr candles and 8 hr are really important..
i have to ask thou..it is accurate yes and the candle formations are true, i mean i wont suffer from this indicator being buggy or giving false candle formation? ...i guess im asking is it very relaible..thx for posting..
When you apply the period converter to your chart, go to inputs,click on "PeriodMultipler" and indicate the number you want to convert.
Ex. go to the Daily, apply the peridcon and got to inputs. Then go to "PeriodMultipler" and put "2" for two Day chart.
Then got to File and click on "Open Offline". Look for your selected time frame, ie. GBP/JPY 2D. Click on that and apply your template. Done.
You should be watching and getting a feel for which formations are strong ones too.
You can technically have a 2 day pin, but that doesn't automatically make it a signal.
Don't expect to trade any indicators' signals blindly.
I see set ups all the time and take probably %10 of them. (guessing the percentage there, but it tells you how many don't make the grade to me!)
I guess, what I'm saying is , regarding any indicators reliability, you should have the skills to identify these formations with the naked eye as well (and even primarily) ...If you don't then there's a good chance you will also be shot gunning your trades in the mean time. i.e. any ole' pin.
...Just a heads up man.
.
You should be watching and getting a feel for which formations are strong ones too.
You can technically have a 2 day pin, but that doesn't automatically make it a signal.
Don't expect to trade any indicators' signals blindly.
I see set ups all the time and take probably %10 of them. (guessing the percentage there, but it tells you how many don't make the grade to me!)
I guess, what I'm saying is , regarding any indicators reliability, you should have the skills to identify these formations with the naked eye as well (and even primarily) ...If you don't then there's a good chance you will also be shot gunning your trades in the mean time. i.e. any ole' pin.
...Just a heads up man.
.
Excellent point as always Sir Bundy.
Combination bars, especially on higher times frames, can give you a look at Price Action that others (the market) may not see.
More importantly, the rules (guidelines) still apply when looking for tradable Price Action set-ups on combination Bars. Location, PPZs, Fibs and other confluences to support a given PA trade.
Period coverter is more of a "Identifier" and not an Indicator. I just chops up Price differently then what we are use too. (Hourly, 4 hour, Daily etc.) An important tool in the Price Action toolbox. imo
And I agree with Bundy that over time and study that these formations, along with confluences, will begin to pop out at you with just your eye balls.
with the indicatr i cant seem to get quarterly charts..can i ask what i need to do to get this timeframe or is this where it get its limitations...?
thx buddy
Try the 3 Monthly
Yeah, I noticed that too. Just have to use the Monthly and combined them visually.
Nice little catch here on the 5m (aka Ryan trade)
Pin on the pull-back to the 21ema, middle of bb & with the current trend.
Nice.. stop now @ be. currently +58.
. The 2 setups I love are the middle BB with trend and trading the BB extremes when the BB are flat and I get a rsi divergence. Those 2 setups are all you really need. But again it's not that sexy and it's too easy for most of the smart people who like to be CT hero's and catch a good trade 20% and lose the rest lol.
haha nice one, I was in that with ya. I only got 20 but who cares 2% is 2%. The bounce off the MA or Middle BB is GOLD. Go back over some of the older charts and watch what happens when the BB and MA show a trend and it hit's that middle BB for a bounce
