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let's take the 1-2-3 high for example..
point 1 is decided when the bar in question is preceded and succeded by bars(up to 3) that create a lower high and lower low(must not take out the high )
point 2 is basicly a retrace and is created when price makes a low and than reverses taking out the the high...point 2 bar must be succeded and preceded by bars that have higher lows
point 3 is the same as point 1 but it must not be higher than the high established at point 1. point 3 must also be preceded and succeded by bars that have lower high and lower lows.
the 1-2-3 low is quite similar..
i've attached a 15 min USDCHF screenshot from friday with 2 consecutive 1-2-3 ..hope this is going to help
here's a new ideea...although an old breakout one
al the credits go to XREDX who posted on the strategybuilder forum
Range A: 7 pips
Range B: 9 pips
Range C: 25 pips
Range D: 75 pips....breakout
take the average the previous 3 - 15 minute periods(bars) and then if the period that just closed was 3 x as much as the average then set a sell stop and buy stop. The buy stop would be placed about 5 - 7 pips above the high from the previous 15 minute period and the sell stop would be placed below the low from the previous period. And I set an expiration on it for about 25 minutes.
thought it's worth mentioning another idea posted on a forum
The system is based on too-well-known double tops and double bottoms patterns, the only difference is that it's completely formalized, there's no room to guess whether it is a pattern or not.
Here you are, in just 5 steps.
1. Let's call an upper cardinal point the following high:
h(-2) < h(-1) < h(0) > h(1) > h(2),
where h(i) represent highs of consequent bars, h(2) is the high of the last closed bar, thus h(0) is the upper cardinal point 2 bars ago (they are always two bars behind).
2. Respectively, a lower cardinal point conforms to the following formula:
l(-2) > l(-1) > l(0) < l(1) < l(2).
3. Now let's find one of the following patterns: a) a lower cardinal point between two upper ones or b) an upper cardinal point between two lower ones in strict consequence.
4. As we've found a pattern we place a stop sell order at a small distance below the lower cardinal point (case 3a) or a stop buy order at a small distance above the upper cardinal point (case 3b). We place stops at the highest of upper cardinal points (case 3a) or at the lowest of lower cardinal points (case 3b).
5. We move stops at new upper (case 3a) or lower (case 3b) cardinal points as they appear.
Last edited by spahiu; 06-24-2006 at 10:46 PM.
Shifts not recommended in live, it looks good in backtesting though so be careful with that
This what Iam looking for.
The programme must show the lattest 123 and one before.
Not any more.
Iam working on e signal Charting platform.
Is there any one who has written a programme for this for E signal charting platform???