Hello dear Renko traders,
As you all know, since last week i started to explore Harmonic Trading.
At first I thought it was OK to immediately take a position, as soon as a harmonic pattern was formed, but pretty quickly I discovered that too many false reversals arose, even on Renko charts.
Therefore I went looking for indicators which could filter out such false breakouts.
So I added two indicators that in my humble opinion, should be sufficient to filter out only qualitative reversals. Please consult the explanation on the attached chart for more clarification.
Load the extra indicators to the appropriate Indicator/folder,
and use the new template.
Gilbert.
As you all know, since last week i started to explore Harmonic Trading.
At first I thought it was OK to immediately take a position, as soon as a harmonic pattern was formed, but pretty quickly I discovered that too many false reversals arose, even on Renko charts.
Therefore I went looking for indicators which could filter out such false breakouts.
So I added two indicators that in my humble opinion, should be sufficient to filter out only qualitative reversals. Please consult the explanation on the attached chart for more clarification.
Load the extra indicators to the appropriate Indicator/folder,
and use the new template.
Gilbert.
Attached File(s)
DSS Bressert.mq4
3 KB
|
1,532 downloads
Momo Counts v102.mq4
11 KB
|
1,100 downloads
Gartley v102.mq4
103 KB
|
1,976 downloads
Renko_SR_v2.0.mq4
6 KB
|
1,153 downloads
BB_MACD_MT4_v6.mq4
9 KB
|
1,382 downloads
harmonic trading.tpl
72 KB
|
850 downloads