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- CodeMuncher replied Aug 8, 2008
image I wasn't trying to be rude. It's just that so many people do not understand indicators for what they really are - another way of interpreting price/volume/time data. A 1 tick chart is the purest chart. Anything else becomes interpretation. ...
No Brainer Trades
- CodeMuncher replied Aug 8, 2008
By your logic then one shouldn't look at the daily high/low because, that too, "changes like the wind". If you have a horizontal plot of the daily high/low that will change. Does that invalidate the usefulness of the indicator? The problem lies not ...
No Brainer Trades
- CodeMuncher replied Aug 8, 2008
That's what I call the "3" that the 3 Level ZZ Semafor indicator plots.
No Brainer Trades
- CodeMuncher replied Aug 8, 2008
Most people do NOT understand that is more than one way to use an indicator. They think that every indicator is a buy/sell trigger when that is not the case at all. Does price stay still? Of course not. Neither should an indicator. Does the fact ...
No Brainer Trades
- CodeMuncher replied Aug 8, 2008
image I think I am beginning to "get it", as in understand this method. Waiting for the price to bounce off of support/resistance ( the big "3" ), is proving to be highly profitable
No Brainer Trades
- CodeMuncher replied Aug 7, 2008
image Everybody may be looking at the same thing but some are coming to different conclusions.
No Brainer Trades
- CodeMuncher replied Aug 7, 2008
image I think they're playing a game of "chicken".
No Brainer Trades
- CodeMuncher replied Aug 7, 2008
image I know this isn't an "indicator friendly" thread ( LOL ) but the 3 Level ZZ Semafor that is posted on FF seems to be good at plotting (after the fact) the support and resistance levels. I change the input from 5 to 0, so I don't get the "1" ...
No Brainer Trades
- CodeMuncher replied Aug 7, 2008
image Looks like watching price go by tick by tick does help
No Brainer Trades
- CodeMuncher replied Aug 6, 2008
It's not my work to post ( it is publicly available ) and it's not meant to replace anything being mentioned in this thread. It is just a real time analysis tool that may or may not give you an edge as you enter/exit the trade. The indicators work ...
No Brainer Trades
- CodeMuncher replied Aug 6, 2008
image Don't think I have traded this pair before... I'll watch.
No Brainer Trades
- CodeMuncher replied Aug 6, 2008
I just put as many bars on the chart as possible and then put horizontal lines on the spikes. I was applying what I read in the PDF file. By the way, it would be nice if DATES were included on some of those pages. Because 6 months from now, no one ...
No Brainer Trades
- CodeMuncher replied Aug 6, 2008
image This version of the no brainer support resistance shows how many times the prices have been either Highs or Lows. The current price (orange) and the next 5 prices above/below are listed. QUESTION FOR BILLYRAY.... How many periods/days/hours ...
No Brainer Trades
- CodeMuncher replied Aug 6, 2008
image A tolerance of +/- 5 pips is producing a lot more hits. I will have to watch this to discover what tolerance, if any, works best.
No Brainer Trades
- CodeMuncher replied Aug 6, 2008
image I just got an update of the indicator. You can specify tolerance. So when I put in the price of 1.5445 with a tolerance of +/- 1 pip, I get more hits. This should be handy.
No Brainer Trades
- CodeMuncher replied Aug 6, 2008
It's much simpler than that. If you input a price and the number of bars to look back, the indicator checks that price against each bar's high and low. If the price equals the high, it adds 1 to the high count and if equal to the bar's low, adds 1 ...
No Brainer Trades
- CodeMuncher replied Aug 6, 2008
image I was curious... I loaded the price ( 1.5445 ) to see how many times it had been a high and/or a low. This is the price that put in the "3". 1.5445 has been a low 11 times in the last 1920 hours ( 80 days * 24 hours ). Looks like this works.
No Brainer Trades