I have coded the colored bars and Market E-Motion indicators. But they have some flaws, I frequently have to hit refresh as sometimes the bars are colored wrong. That's why I did not release it yet.
I am referring to a failure of the current high or low to take out the previous level. Sometimes it will get to the old level and then fail and of equal importance is when the current high/low fails to make the old level by a tic or two. Also I should like to point out that while the close is an arbitrary figure set by the trader, it does have a part to play. ie Let us assume that you are following the ES on 10K CVC (constant vol) This means that the close is a snapshot of the price every "n" contracts. Let us say that the traders have being buying and the price has risen, but you have noticed that it has closed at the same level as that two bars ago, irrespective of the highs. This means that 2n contracts have failed to advance the price and you would probably want to see it close above the previous high in order to know that the trend is still alive. However, the next move up could be exhaustion as the longs take profits and the unwise buy their positions. This is a classic pattern. It has probably been mentioned many times before, but the best action you can ever undertake is to turn off all indicators and just watch the price and a filtered T&S. regards f9
The triangle breakdown I shorted earlier. Now I'll sit on my hands till I see a strong trend (breaking High or low of the day), maybe is a good idea to go to the gym and see what happens in the afternoon How's going for you guys?
Caught this trendline break for 5 pts. Mighty choppy though.My first day sim trading. Good trading to all B Price