Charting with Median Lines

GBP/USD 4hr

GBP/USD 4hr

Hi Alex,
I've been studying APF and median lines for a few months now and still cannot find an indicator that suites me. The stock mt4 just doesn't cut it anymore. Care to share your indicator?

Hi 4xu2,
The 1st post of this thread will link you to the indicator.
Enjoy!

Update: My Red PF posted on Jan 10 played out exactly (for at least a bounce), though with best accuracy on either an H1 chart, or on a Daily (5 bars/week) chart.

Here's an update of the original Daily (6 bars/week). (The bar just prior to the low was itself a good bounce that held barely shy of the target).


Here's the same but using H1 (120 bars/week):


Overall, GU has a lot of down pressure and volatility. I doubt the downtrend is done, but along the way, there will be some pullbacks and these often occur at such targets with "intra-fork" resonance as illustrated here.

GBP/USD 4hr

GOLD Daily

Wow, did it ever. Peaked 428p up from the low, and now has held exactly at the UML of the downslope that AlexC drew. See 2 charts previous or use the link here:

I missed the Sunday entry, but on Monday, 5:44pm EST, I was literally holding my finger for a "Buy" at the little red PF ML below, and on my M5 chart, my feed, it was ~2 pips shy but never did reach the line which was my trigger. (Or at least <1pip close). Then price ran, and I try not to chase it (since it could well have returned for a touch, but it didn't). I missed out on this trade due to my preference for extreme accuracy (but which allows high for R:R because the "risk" is so small). I could have/should have entered when it was close enough. Oh well.

On the topic:

Another issue affecting accuracy at this time of year is that many brokers shutdown for part or more of 1-2 days for Christmas and New Years. I think that 1 day (24 hours) for New Years is probably normal for most of the world's brokers, but if some broker is open somewhere, it's a "market", and that creates gaps for closed brokers, which affects the Pitchfork slope (if between pivots), or it affects where price intercepts the lines, since they shift left or right.

For example, for the PF AlexC drew, I did the same but zoomed in close on H1 charts.

Compare my TradeKing chart (15 hr and 7 hr gaps = 22 hr total). The UML touch was near perfect, even better if you shift PF right 2 bars to make it a perfect 24 hour gap. (And if you go the other way 22 bars, it won't be accurate touches, so who really knows what is correct. I'm just observing charts.)



Compare to Oanda (two 25 hour gaps = 50 hr total). The prices are all very close between these brokers, typically the same or a fraction of a pip difference. The big difference is the bigger gaps which, because it is NOT between pivots, does not affect the slope, but does affect where it intercepts the lines, because they shift right/left accordingly. See how the "24 hour" horizontal line shows how the PF UML would have intercepted by shifting it. (And again, is 24 correct? or 48? I'm not saying I know for sure).




P.S. I used a variation of "BREW_MissingData_sep.mq4" to mark the missing bars. Search for the original if you want to try it, though it may miss a few bars adjacent to weekends.

Hallo Alex C

I will not spam your thread with other things . but the ML has correlation with NonLag MA 200 W1 ( blue curve)
and PP YR1 (settings; floor- Baseprice: previous median)



sorry if this disturb
green pips

I remember Tim Morge saying draw your trendlines with crayons.

No disturbance. Moving averages are dynamic levels used by many fund managers.

GBP/USD 4hour

GBP/USD 4hr chart. Friday's close.

Dollar Index Weekly

GBP/USD 4hr

GBP/USD 4hr

GBP/USD 4hr

Dow Jones Industrial Weekly.
Broke the 20,000 barrier today.

GOLD daily