Good grief! For some reason I was thinking Wall Street is always closed on The 4th of July (Independence Day). I didn't even go online until 8:30 AM PST, so...no testing of my crazy schemes today. CORRECTION: It is the 1½-minute baseline.
Here is the corresponding indicator (below). It would essentially have you executing strategic scalping, usually remaining in positions only a few seconds or a few minutes at the most. So then, can you code a signal that would trigger trades at the tops and bottoms identified here instead?
The indicator in Post #943 gave me another idea (below). Compare the two. Enter as price is coming out of the subsequent pullback...
I was busy trading crude oil for most of this morning. But now, let me turn my attention to the USA indices... The numbers suggest to me that the S&P and the Nasdaq have finished climbing for the day, or at least for the next hour or two. I'll check back then to see if this turns out to be the case. UDATE: The Nasdaq is looking good so far, but NOT so the S&P. Instead of turning south, it has merely gone neutral. From here, it can either remain neutral, turn north again OR turn south. This is not what I was expecting since I thought I saw the signs of its opting for a bearish sentiment. Now the Nasdaq is waffling back and forth and the S&P is solidly bullish. That's what I get for making my move late in the day on Friday...not enough time left to compensate.
Since the above did not turn out to be the case, I coded indicators for a strategy that would have had me entering positions as price came out of pullbacks occurring subsequent to the alerts (green arrows) instead. (The gray arrows indicate visual entries based on graphics not included in the image(s) below.) I'll try this strategy out next week and see if it works better.
Today I was working toward finishing the chapter in my book on (day) trading that's focused on buying and selling crude oil. My goal was to list straight forward easy-to-follow guidelines for retail traders based on the protocol I used yesterday—instructions that would successfully overcome the challenges and hurdles created by this fuel's problematic price action. To work out any kinks that might otherwise slip by me, I coded corresponding indicators until I arrived at an outcome I could regard as acceptable, which resulted in the following... It's not perfect in that the gray arrows point out four trade opportunities that were obvious based on the graphics plotted on my chart (not pictured here), but that were not recognized by the parameters constituting the alert's source code. Nonetheless, this indicator should call my attention to enough opportunities each day for me to milk a daily profit out of the fuel without my having to monitor the chart myself 24/7.
Here is the indicator stemming from that task of writing straight forward easy-to-follow guidelines for retail traders based on the protocol used to trade natural gas...
Here is the indicator stemming from the task of writing straight forward easy-to-follow guidelines for retail traders based on the protocol used to trade gold...