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@  Cookiebrawler : (17 September 2019 - 04:27 PM) MegaMoney 90%
@  aasir : (16 September 2019 - 10:25 PM) Binary Triumph
@  traderpusa : (10 September 2019 - 01:35 AM) that was my bmw lol. E60.
@  Monoaldo : (10 September 2019 - 01:34 AM) E60
@  manfloy : (09 September 2019 - 11:12 AM) well said.
@  traderpusa : (09 September 2019 - 11:07 AM) at least for the moment, china will hold back because of economic conditions. My guess is they want to involve PLA but simply are not in a position to do so for the moment.
@  traderpusa : (09 September 2019 - 11:05 AM) well, regardless of any agreement between uk and europe, there is still nato is trump doesn't blow it up lol
@  manfloy : (09 September 2019 - 11:04 AM) I am really worried about HK if the PLA phase in this can interrupt the entire chain between FX liquidity and current import / export countries. I understand that we have a bunch of corporations exposed to China, now believe that 99 percent of them are stable in HK because they have a high law. If the PLA gets in, they'll substitute this economic centre with a singapore.
@  manfloy : (09 September 2019 - 11:04 AM) Yeah, they're really a very significant player. I am informed that there is also a lot more than economic, for instance there are a number of military agreements agreed between the GB and the EU, which is serious.
@  traderpusa : (09 September 2019 - 11:02 AM) the UK being part of the EU GDP figures, but not part of the Euro only makes things a bit complicated on how to interpret numbers for trading purposes.
@  traderpusa : (09 September 2019 - 11:00 AM) of course one needs to focus on US being the biggest economy but UK is still up there. https://gyazo.com/42...39df1c7c58d9221
@  manfloy : (09 September 2019 - 10:56 AM) I'm focused on the US, so I don't spend so much on the GB, I'm supposed to study it well since 2015, but something has altered worldwide, literally, it's an enormous step in the world's liquidity and global system, modifications are nice, but they're really colorful.
@  manfloy : (09 September 2019 - 10:56 AM) thanks good reading
@  traderpusa : (09 September 2019 - 10:53 AM) As to China, read this over the weekend : https://apnews.com/6...f75f013bf54e6a9
@  manfloy : (09 September 2019 - 10:51 AM) Spectacular indeed lol, this is huge to be honest
@  traderpusa : (09 September 2019 - 10:47 AM) it's gonna be interesting. MP's are leaving the sinking ship and now also Bercow has resigned. Gonna miss this guy lol
@  traderpusa : (09 September 2019 - 10:46 AM) https://gyazo.com/58...16d785753060ff0
@  manfloy : (09 September 2019 - 10:44 AM) I am very concerned about GBP, I have decided to leave until the government is making some definite deals on the Brexit. I'm not a supporter of uncertainty.
@  manfloy : (09 September 2019 - 10:42 AM) US It is expected to rebound until new years, because the season is coming and everyone is ready for new year revenues.
@  manfloy : (09 September 2019 - 10:41 AM) China is underwater now, and I can't even define how starving they are for dollars. Their imports fell significantly last quarter. They're trying to stimulate again, but I don't think it should work out, more than: we're back to the 2014/2015 situation. The issue with the Chinese central bank cutting off the supply of cash, the issue that they are not diversified around the world.

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Trend change indicator

Trend Indicator Swing tight SL Forex

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6 replies to this topic

#1 Simon894

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Posted 21 September 2017 - 08:04 AM

Hi all,

 

I'm looking for indicators that try to determine a high or a low of a trend/counter trend and indicators that try to determine the end of a trend/counter trend as soon as possible. The key is in keeping SLs very tight, so signals themselves don't have to be highly accurate.

 

I already did some experiments with flying buddhas + BB and with TMA. The former has potential, but it also has a very substantial DD. The latter will, because of recalculations have to be forward tested.

 

Anyway, looking forward to recommendations.
 
Regards,
 
S


#2 Tripack

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Posted 21 September 2017 - 09:41 AM

That is a hard one to code as an indi, the best way to look for trend change in my opinion is to look for hh hl ll lh behavior on multi timeframe, combined with some fundamentals.
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#3 Simon894

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Posted 22 September 2017 - 08:02 AM

That is a hard one to code as an indi, the best way to look for trend change in my opinion is to look for hh hl ll lh behavior on multi timeframe, combined with some fundamentals.

Yes, the whole concept is essentially hl and lh trading. The key is detecting the formation of a hl/lh as fast as possible as to keep a SL very tight. 

 

One way is to rely on overbought/oversold indis + a reversal candle pattern. That's what BB +  flying buddha is.

 

Another way is to rely on support/resistance levels that were previously broken by the trend. The problem here is that a tending price will very rarely retrace back to those levels. 

 

Using higher time frames for detecting relevant levels might also be a good way. Thanks for that. 



#4 swede

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Posted 22 September 2017 - 09:24 AM

Honestly, take it from a veteran of this forex industry, the biggest favour you can do for yourself is forget trying to code an indicator to do the work of your power of reason because what is relavent on a 5 minute chart may be totally irrelevant when considering a one hour or a daily chart. Because the huge volume of the currency industry ( 5 trillion per day) how does one determine oversold/overbought levels. It is very hard from a technical standpoint because technicals only tell part of the story....what is truely behind a move has so many moving parts.

I have found a top down approach to be the best and most accurate levels to trade around. Closing prices of swing high (or swing lows) on the 4 hour and daily charts are levels that create both with the trend and counter trend level to trade because they are levels of history. They are historical levels that either failed or are broken and offer many opportunities for tight Stop trading.

Anyway, just my 2 pips....best wishes. Swede
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#5 swede

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Posted 22 September 2017 - 09:34 AM

Example of my last post...everyone's favorite, the euro...notice swing high close pinbar on the daily, then look at 4 hour and one hour trading at the levels created from the daily close prices...

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#6 swede

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Posted 22 September 2017 - 09:38 AM

When you practice drawing these levels for some time you will be expecting action around these levels, and if patient you can enter with much confidence and very tight stops....just saying....lol
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#7 Simon894

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Posted 23 September 2017 - 08:47 AM

Honestly, take it from a veteran of this forex industry, the biggest favour you can do for yourself is forget trying to code an indicator to do the work of your power of reason because what is relavent on a 5 minute chart may be totally irrelevant when considering a one hour or a daily chart. Because the huge volume of the currency industry ( 5 trillion per day) how does one determine oversold/overbought levels. It is very hard from a technical standpoint because technicals only tell part of the story....what is truely behind a move has so many moving parts.

I have found a top down approach to be the best and most accurate levels to trade around. Closing prices of swing high (or swing lows) on the 4 hour and daily charts are levels that create both with the trend and counter trend level to trade because they are levels of history. They are historical levels that either failed or are broken and offer many opportunities for tight Stop trading.

Anyway, just my 2 pips....best wishes. Swede

Overbought/oversold concept is based on the reality that the more price of something falls more people will want to buy it and the more it rises more people will want to sell it. This is why the price of pretty much anything moves in waves. Determining where and when will price change direction is obviously very hard. S/R levels are historical oversold/overbought levels. While "traditional" oversold/overbought indicators try to determine direction change based on momentum (price change relative to time), S/R levels try to do it based purely on price. 

 

I'll be trying to trade (when I get more time) with very high R:R (10:1, 20:1 or even more). This is why I need to trade with a strong trend and keep SLs very small. The problem with S/R levels as retracement targets is that when a price is trending it will very rarely retrace back to previously broken S/R levels. Using higher time frames for S/R levels might be a solution to that problem because those levels stay relevant for longer than levels on lower time frames do. 

 

Thanks for the advice and good luck.
 
S

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