Girlpower, I don't know what kind of testing software you're using, but have you tried using slope of the regression line of highs & lows for the last N periods in a higher timeframe to define boxes and triangles? I've attached a chart that's a start in that direction 'Is Horizontal Channel (boolean)' requires that the slopes of the 60min regressions of 15 min highs and lows are within some narrow band around zero. (+/.25) Just my $.02 Edit: Furthermore, you can describe Grob's up and down channels in the same way by focusing on the spread between the slopes. Best Regards, Laz
I've not tried that idea although slopes and angles are on my list when I get time to figure them out. Your solution there looks quite elegant although I'm not sure I would know how to implement it. but deffinitely brainfood. Many thanks Natalie
i, for one, have to agree here. 'time in trade' is what you should focus on. there are internal rhythms in the market during the day that you need to be more aware of. capture the essence of what is happening and you will not worry about the size of the move.
well said natalie. definitely something that you must experience over and over to fully understand the 'failure point'. don't expect anything. just put the position on when you should and pull it off when the trade is done.
do you trade with pivot #'s in mind? i personally find these #'s to be great signposts -- mechanical points that separate moves. very often you will buy bottoms or sell tops when you are aware of the #'s. you can take low risk positions countertrend at these points in the morning (9:45am), and get in on the very beginning of a move. the failure point is purely mechanical -- it's when you see a pivot level fail, after it has ALREADY previously held that level (this usually coincides @ 10:30am). this is the time to identify the next pivot level and take a position. ride it into the afternoon, who knows?! who cares? maybe it will only last 2 minutes and then you're done. anywhoo......good trading
...Please delete your post. You are giving away the farm here. For the record, Funky is full of it. There are NO temporal predictabilities in the market, intraday, daily, or monthly. Maybe Kondratieff waves work, but we'll all be on social security by then. Trust me. Stick to MA's, stochs, SAR's, etc. They WORK. Isn't that what all the books say? Funky, what were you thinking? Don't you want people to take the other side of your trades?