Wednesday / August 12, 2020 Though I felt like my charts had been "finalized" about a year ago, I continued to make little changes. But, in the last week or two, I initiated a process I called "optimizing" my settings, and now find myself 100% satisfied with what I see rates doing following my interpretation of the visuals plotted on my graphs. The final, final version looks a bit more confusing than most of those leading up to it, such as this one from April 3, 2020. This is because I discovered that the system works a lot better using a number of envelopes that have a lot of overlap rather than just three or four reflecting widely dispersed time frames.
I went Simpler, I needed a small loss with potentially bigger profit, find my little range in white works well. Range is Envelope 7ema High 0.01% with the Top showing and bottom none and Low vice versa, and a 18ema 0.01% for over all direction. ( adapts width to Bar's size/volatility with a tad extra on top, so scales to M5 or H1 well to ) I only take trades where my loss will be 5-7pts, but upside 7 - 50pts ( 25 typical ) and I move SL to reduce losses even more aswell. Similar to your method made it a another Line near maybe it'll bounce, move SL and repeat, repeat then down 50pts, where as if I'd of taken -5pts and got back in on the right side I'd make 40pts. Used to only work with small positions and averaging down then big hits occasionally being the downside.
I doubt it will be impressive because trading is not about indicators. Indicators are for professional talkers and professional writers and newbie traders, not professional traders Prefessional writers/talkers and professional traders are natural enemies. They don't see eye to eye
I don't think any system, especially a trading system, or charting system etc can be "finalized" as the markets are an ever evolving mechanism so you must adapt with the times.
Perhaps you are right, but if so, experience is going to have to prove this to me. For example, I believe that as long as both the crimson and midnight blue moving averages are sloping downward, the best course of action will be to sell and that this will never change. Similarly, if both moving averages are sloping upward, the best course of action will be to buy, and no matter how the markets evolve, this will always hold true. Whatever the system, it need not be much more complicated than this.
I totally agree. there are tons of info about those lines and curves and triangles in internet / forum /bookstore. and they look very impressive. Professional talkers and writers are very good in promoting these materials and that was the reason why I was brainwashed. I learned all those things in 1980s. It took me quite sometime to delete all those lines and curves and triangles from my charts and decontaminate my mind. And that's how I made progress. All the best to you mister.