There was a system in one of the Currency Trader on line magazines, that appears to have some merit to it.
It's pure price action. I have modified the rules and it looks to be even better.
One of the components of the pattern is a candle formation that is very tedious to visually isolate. An indicator to flag these bars would be a great help.
If I can get one, I'll backtest the method, a few months back, and post the results as well as the rules. I would give the rules now, but I'm sure I will change them, somewhat, as I visually back test.
This is the candle that needs to be identified:
Neither the top wick nor the bottom wick, of the candle, can exceed 25% of the total range of the candle (H-L).
It would also be good if there was a parameter to control the minimum range of the candle based on ATR(20).
0= no minimum
x.x = ATR multiplier
Thanks in advance. It will be greatly appreciated.
It's pure price action. I have modified the rules and it looks to be even better.
One of the components of the pattern is a candle formation that is very tedious to visually isolate. An indicator to flag these bars would be a great help.
If I can get one, I'll backtest the method, a few months back, and post the results as well as the rules. I would give the rules now, but I'm sure I will change them, somewhat, as I visually back test.
This is the candle that needs to be identified:
Neither the top wick nor the bottom wick, of the candle, can exceed 25% of the total range of the candle (H-L).
It would also be good if there was a parameter to control the minimum range of the candle based on ATR(20).
0= no minimum
x.x = ATR multiplier
Thanks in advance. It will be greatly appreciated.