What you are describing appears to be your own customised indicators. Any function or identifiable feature of price history and volume is an indicator, even a logical function that says buy, sell, hold or wait. Having trading rules as a parametrised function gives scope to select the parameters to optimise gains over a period of past data. That doesn't guarantee future success of course. The principle is simple and you haven't described anything new.
I would hope that the readers with little experience in TA would not just take a technical indication at face value, but would devote some study into the various parameters that can be used to qualify the technical indication, which should lead to improved performance.
Not customized, but just price movement that indicates the probable success or failure of the technical indication in question. New to those experienced in TA, no. But just as it was new to the guy in Starbucks,. I hoped that just explaining that such parameters exist and can improve performance if applied would be informative to those with little experience in TA
If you can compute this probability as a function of your parameters then you have produced a new indicator. If you can't compute it then you are making a subjective judgement of success or failure of the indicator.
The parameters that one discovers or learns must, of course, be those that have an effect on supply and demand and the success of the technical indication in question in the vast majority of cases. So the trader would be using parameters that are based on computed probability, and in addition to his knowledge of price movement in general which in some cases can be subjective by judging if you have too much of this or too little of that.
I also would certainly hope that newcomers do not take technical indicators at face value: I'm on record as stating I never use any off-chart indicators. But if they're unfamiliar with TA, what makes you think they'll find their way to these parameters, or the right parameters. What are you talking about exactly?
Sorry, maybe I was not clear when using the words technical indications. I'm not referring to indicators such as RSI, MACD etc. I never use indicators. There seems to be so many who have acquired a so-so knowledge of TA. But they do not take into consideration the various parameters that can help determine the probability of the pattern or other technical indication working or failing, and focus only on the pattern etc. They can discover these parameters through study, research and hard work, the same way that so many successful traders have.
Yeah, you're right. Shouldn't have started the thread. Been away from English so long that nothing I say makes sense anymore. Will ask Baron to delete the thread, and swear never to start a thread again!
I’m not sure if I understand your question. These are the parameters I measure per 5min bar: 10 price cases 11 volume elements Volume Pace Right Trend Line Left Trend Line A list of trend end events to measure the progression of trend. 1d-30m-5m charts DOM ladder 2 T&S windows 2 Tick screens A Bookmark All calibrated to screen for signal and to filter noise. Coarse level down to fine. The above is packaged into a dataset. The dataset gives go/no-go decision at eob. At first overwhelming, with study comes training, with training comes understanding, with understanding comes capacity. With capacity comes Service.