My help is in the name of the Lord who made heaven and earth.
{quote} Hi Albertdkpllh Is this indicator repainting? Because this morning I (demo)trade NzdCad. After closing the candle got valid signal I took the trade then after 2 candles I cant the valid signal gone and new signal plot top of the 3rd candle. I dont have screen shot. Next time I will take a scree shot. If you dont mind shear your template. smartvin
The pdf above throws some light on the concept. Now i try to use that to my advantage.
You will observe that the TZ indi marks the highs and lows of price that actually become turning points provided the zone becomes transient.
Now taking H to be 6 (I use 6 because it gives me many entry opportunities but more risky, a bigger H makes it more stable), When a zone appears e.g for a low, it means the bar at the center is trying to be the lowest low and if for the next future 6 bars none goes lower than the zone, it becomes transient very often a turning point for price.
Now if any of the future 6 price goes lower than the bar of interest that price will become the new bar of interest, of course it will clear the initial zone and form a new one, and this will keep happening until it becomes transient. Not the same as repainting.
So to answer your question about repainting, No it does not repaint because price does not repaint relative to time. If the zone disappears it only means the area is recurrent. All this stuff you will find here http://www.forexfactory.com/showthread.php?t=509195
But i am only interested in the middle TZs.
I will explain how to pick them out in real time soon. Better still let me know when you have a potential setup on one of the pairs that you will want me to monitor with you.
My help is in the name of the Lord who made heaven and earth.
- #38
- Mar 6, 2015 2:51am Mar 6, 2015 2:51am
- Joined Aug 2010 | Status: EsikeTrader | 2,227 Posts
Time always comes before price
