Thanks Karun ,I founf it not sure if is working let's see.
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- #4,247
- Feb 2, 2009 3:49pm Feb 2, 2009 3:49pm
- Joined May 2006 | Status: Still here. | 2,602 Posts
How far do we need to go or zoom out to draw a trendline on a 5M or 1M chart? I have been trying to draw a tl in 5M chart in EU but not clearly getting it
However, you can go to a higher timeframe to see and verify if the line "comes from behind" from an earlier continuation, but usually the last two will be ok.
As you are using a multiTF setup, you can maximize the individual window while you draw the trendline, then restore it to its usual position (middle button on the Windows frame).
- #4,249
- Feb 2, 2009 3:55pm Feb 2, 2009 3:55pm
- Joined May 2006 | Status: Still here. | 2,602 Posts
Is this a correct way?
But remember there's always two sides to every story
You can also draw the ascending trendline (and especially because of the bullish flag we had earlier) so you can see the whole scope.
Yes.
But remember there's always two sides to every story
You can also draw the ascending trendline (and especially because of the bullish flag we had earlier) so you can see the whole scope.
Thanks
- #4,252
- Feb 2, 2009 4:13pm Feb 2, 2009 4:13pm
- Joined Oct 2008 | Status: hit the road, Jack. | 500 Posts
Look at the attachments in the thread (the paperclip symbol) you will find this file THV V3 MULTI-TF.zip, it was uploaded by doblece or you can directly get it from the post here
still, nothing changed
- #4,253
- Feb 2, 2009 4:15pm Feb 2, 2009 4:15pm
- Joined May 2006 | Status: Still here. | 2,602 Posts
Ok, I drew this one first, then I was not really sure if it was correct, because I have to zoom out completely to see where the TL gets over and this had more slope to it, then I drew the other one.
Thanks
Though the yellow line should be drawn from the wicks as are the other ones (or not be taken so far in time, as the last two seem to be correct indeed).
Usually an ascending trendline is drawn from the lows, and a descending one is drawn from the highs. The corresponding opposite highs or lows line is what allows to see the channel, or if it forms a triangle pattern, etc..
Maybe you could use for this the analyze chart (I saw the template and indicators folder in the zip download in page and post 1) so you keep the THV charts clean, or maybe barely the main trenline as to see supports/resistances.
Then you can draw all channels in the different timeframes too, as to see the big picture if you so wish...
The change in slope is important to notice, as effectively the first lows are steeper, and then it seems to start to what I call "rotate": the angle of the different lines drawn from the last two lows (or highs) start becoming more and more flat, then slowly changing (or not) to a descending trendline, this way it is possible to anticipate a contrarian move, IMO. Also, you will be able to see if the market is flat, and so avoid to trade when it's ranging or apply more precautions when you do in those conditions.
- #4,254
- Feb 2, 2009 4:19pm Feb 2, 2009 4:19pm
- Joined Oct 2008 | Status: Let the market come to you | 2,670 Posts
Just my input. I am not changing anything I use as it has worked for me.I will try your settings and take a look an if PA respects better than now, I can change!
I didn't post any settings
This thread is amazing by all the constructive posts from the THV members & leader, and I just need Doblece to convince me or me to convince her 
lolAnyway I can't manage my time by following up this thread and trading or researching at the same time but this is a really an amazing thread.
Peace all.
Sniffing Snake's Tracks...
(Now, I presume you are taking 4pm EST as the NY close, which is the Stock Market close, in this case you would be right, but
so this is why I am taking 17:00 EST instead of 16:00 EST as the NY close.)
http://www.forex-internet.com/forexhours.htm
In fact then, we're both right!
Yeah I guess we're both right but which broker is using the right time?! this is the question.
Anyway it's around EST 17:30 now so the charts for fxsol, AFB, & Ikon can show you what I need to explain.
Ciao.
Sniffing Snake's Tracks...