Hi Traders,
I have a bread and butter system that does good but I can sure use an indicator for it. It is similar to a 123 or ABCD indicator. If you pick a Previous High as High 1 in the picture and a Previous Low as Low 2 and a Recent High as High 3 you can predict the Present Low 4. Take the average of the high and lows of all the candles or bars from High1 to High 3 and create a Median Point with coordinates (average datetime from High 1 to High 3,average (highs +lows) from High 1 to High 3) . Run a Line (Red dash line ) from High 1 to the Median Point and the Next Low 4 is predicted. I call my system the Wave Bisector Method. Thanks for your help.
I have a bread and butter system that does good but I can sure use an indicator for it. It is similar to a 123 or ABCD indicator. If you pick a Previous High as High 1 in the picture and a Previous Low as Low 2 and a Recent High as High 3 you can predict the Present Low 4. Take the average of the high and lows of all the candles or bars from High1 to High 3 and create a Median Point with coordinates (average datetime from High 1 to High 3,average (highs +lows) from High 1 to High 3) . Run a Line (Red dash line ) from High 1 to the Median Point and the Next Low 4 is predicted. I call my system the Wave Bisector Method. Thanks for your help.