DislikedSo, the question: "There are so many PTECZ's. How do we know which on is the important PTECZ?" So, the answer: "The PTECZ which corresponds with High Volume of Contracts."Ignored
Price Action in Day Trading by Dadas
- #3,002
- Aug 27, 2013 8:01am Aug 27, 2013 8:01am
- | Commercial User | Joined Sep 2012 | 3,282 Posts
Trade the facts, not opinions.
- #3,004
- Aug 27, 2013 3:58pm Aug 27, 2013 3:58pm
- | Commercial User | Joined Sep 2012 | 3,282 Posts
Trade the facts, not opinions.
{quote} Well, GOLD Points and Pips... PipTracker Quotient should be 10 for 2-Digit GOLD. Then, you get the standard Pips. Very good job! I like your indi mod! Cool!
I Working manually placing PTECZ (with your script, slightly modified too), so I modified your Label_PTECZ indicator for the way I work.
Jobs in W1, D1, H4 and never look at the chart in the lower Tf. Then use the INDI 'Identifier_period PTECZ' to more accurately at the entrance;
For example, to order Buy, I have red LEDs H4 / H1 and green LEDs in M1, M5 i/o M15 (optional), then enter.
I is working at the moment!!!
Mr. Dadas, all thanks to you and to this thread.
Here's the indicator. Maybe it helps someone:
I hope you do not mind my change!!
- #3,007
- Aug 28, 2013 5:46am Aug 28, 2013 5:46am
- | Commercial User | Joined Sep 2012 | 3,282 Posts
hi dadas I know that I must check from MN W D H4 H1 tf but for this tf is that right? thanks {image}
Trade the facts, not opinions.
- #3,010
- Aug 28, 2013 11:39pm Aug 28, 2013 11:39pm
- Joined Sep 2011 | Status: Trader | 6,363 Posts
A good trader follows his rules, but great trader knows when to break them
- #3,011
- Aug 29, 2013 2:15am Aug 29, 2013 2:15am
- | Commercial User | Joined Sep 2012 | 3,282 Posts
Trade the facts, not opinions.
- #3,012
- Edited 4:21am Aug 29, 2013 2:48am | Edited 4:21am
- | Commercial User | Joined Sep 2012 | 3,282 Posts
Trade the facts, not opinions.
An example how volume can be used to determine important zones. This one is done with volume by price.
The first chart shows FXF and volume by price. The red line indicates where Iīd be looking for my target that ends the downtrend. Look at the high volume there.
The second chart depicts the picture one month after the first one. See how price hit the line? The price rose again. I adjusted the red line potentialy ending a downtrend as seen on the next chart.
And again price hit that level asa seen here:
Those were simple examples of downtrends only because I had to adjust the chart to show the outcome. Thatīs how this indicator must be used. It can only show current or futures levels a few weeks out. It does not show historical levels. Itīs debatable whether we need any kind of indicator (even though volume might not be an indicator as such). Price moves in between the zones we learned about on this thread anyway. I think things such as volume can be used to draw attention to important levels.
The first chart shows FXF and volume by price. The red line indicates where Iīd be looking for my target that ends the downtrend. Look at the high volume there.
The second chart depicts the picture one month after the first one. See how price hit the line? The price rose again. I adjusted the red line potentialy ending a downtrend as seen on the next chart.
And again price hit that level asa seen here:
Those were simple examples of downtrends only because I had to adjust the chart to show the outcome. Thatīs how this indicator must be used. It can only show current or futures levels a few weeks out. It does not show historical levels. Itīs debatable whether we need any kind of indicator (even though volume might not be an indicator as such). Price moves in between the zones we learned about on this thread anyway. I think things such as volume can be used to draw attention to important levels.
- #3,014
- Aug 29, 2013 5:52am Aug 29, 2013 5:52am
- | Commercial User | Joined Sep 2012 | 3,282 Posts
Trade the facts, not opinions.
- #3,016
- Edited 8:24am Aug 29, 2013 7:42am | Edited 8:24am
- | Commercial User | Joined Sep 2012 | 3,282 Posts
The simplest works the best:
Trade the facts, not opinions.
- #3,019
- Aug 29, 2013 10:26am Aug 29, 2013 10:26am
- | Commercial User | Joined Sep 2012 | 3,282 Posts
Trade the facts, not opinions.
{quote} What the Trend is, we can see on the chart graph, Candlesticks. After the fact, that is. A flashing LED, or another line plotted along the graph, will not give you your confidence of knowing which way to go! You've got to look at the Tf graph and read Price Action to determine the most probable Trend direction. The idea of Trading the Financial Markets is not about just Trading anywhere, anytime! It is about the ability to recognise Local Trend Swings and making Profit on Trades in the Right Direction.
[color=blue]All of us working with...
Never more orders go against the trend!!
This is a way of speaking, you should not take it at face value.
You did not understand the meaning of my sentence.
Indeed I believe that the indicators should be used by who knows what he's doing.
Attached is a new version:
1. - Resizing a single factor (fsize = 1, 0.7, 3, etc. ..). - Programming is made with a matrix so do not simply change the font size and the LED-
2.-You can disable Trend indicator for those who are just starting with the study of PA - 'Show_Trend = True / False.
