Following the idea of contrarian trading method, I m looking for an indicator which alerts
1/ when in short term up trend, candle make a 20sma period high, which co-incidely to be in the area of prev high (So basically price has made equal_SR), which give me time to observe how fast the price retreats, to decide there is really a fake-out, in this case my stop sell order under this high, or open of new candle, would be triggered, SL above FO, TP the prev 20sma low
2/ for short term down trend, do the opposite
I have this tigertrons pivot indi, the owner not active in trading anymore & gave freely to use, it implemented the idea to print the daily 50sma and 20sma on the pivot axis, but no alert/push etc... Thank you Tigertron. Respect for the great present.
Could we bring that idea over to a candle, I have no 3 months successful records, but FO happen often and I see it has relation to the equal_SR, the BOS and what happens usually afterwards, by different words described but FO is contained in the core of targets trading, SM concept, LQD creation, and ... it makes sense to try it . I try only in backtester and it is promising. Could the generous coders help us with creating this candle alert indicator, or/and ea for this idea (just for forward testing, because look at the chart you can see reason why there is the potential the ea find the TP point is near the most current prev high/low and it could wait to check auto that the trading condition could be true again, so it would set stop order alternate to the most current prev price movement). Very much appreciated for all the help to modify to made good tools, some assists me a lot in my decision.
Or if someone knows the idea has been implemented somewhere pls give me a link to it. Thanks you
1/ when in short term up trend, candle make a 20sma period high, which co-incidely to be in the area of prev high (So basically price has made equal_SR), which give me time to observe how fast the price retreats, to decide there is really a fake-out, in this case my stop sell order under this high, or open of new candle, would be triggered, SL above FO, TP the prev 20sma low
2/ for short term down trend, do the opposite
I have this tigertrons pivot indi, the owner not active in trading anymore & gave freely to use, it implemented the idea to print the daily 50sma and 20sma on the pivot axis, but no alert/push etc... Thank you Tigertron. Respect for the great present.
Could we bring that idea over to a candle, I have no 3 months successful records, but FO happen often and I see it has relation to the equal_SR, the BOS and what happens usually afterwards, by different words described but FO is contained in the core of targets trading, SM concept, LQD creation, and ... it makes sense to try it . I try only in backtester and it is promising. Could the generous coders help us with creating this candle alert indicator, or/and ea for this idea (just for forward testing, because look at the chart you can see reason why there is the potential the ea find the TP point is near the most current prev high/low and it could wait to check auto that the trading condition could be true again, so it would set stop order alternate to the most current prev price movement). Very much appreciated for all the help to modify to made good tools, some assists me a lot in my decision.
Or if someone knows the idea has been implemented somewhere pls give me a link to it. Thanks you
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TigertronPivotsV1.5.1.mq4
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