brisvegas
Registered: Dec 2003
Posts: 129 |
01-04-12 12:10 PM
Ive never been a big fan of indicators for a couple obvious reasons , been a price action trader for many years now but have just recently thought of building a mechanical auto system to reflect my price action methods . Due to knowing what i actually want to reflect structurely on a chart ive begun to find indicators are the easiest way to reflect some key levels of interest to me . WilliamsR is a great thing for some of these purposes . on the right period the -50 level will reflect 50% retracements , you can also use it to define when swing lows and highs are challenged or db or dt . I use new X period lows and highs for defining trends As long as you know what the indicator is reflecting it can be a huge advantage trying to mathematize these key areas . i personally think williamsR will be a huge part of a bot to trade price action , you just have to think outside the box
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