1) What about Take Profit ? ( or i missed it ? )
2) can you please explain about this:
as you say before : " we should have iTrend confirmation concerning the level. ( level 0 is general )
what about 1 & 2 level ; why they are here ?
and about (2) question !
2) can you please explain about :
1 & 2 level
0 - it is current level, 1 on your image is historical level.
well ... i think - I will need to explain more about how this system wasd created (and why those levels are changed).
& is there some thing you will add to this method ?
I created this system many years ago when I wanted to recove my deposit after losses. iTrend levels are iTrend filter. I mean: if you have big dot of price_channel indicator with confirmation of iTrend so you are openning the trade. What is iTrend confirmation? Confirmation/filer is the following: value of iTrend indicator is above some level.
This indicator is counting
everything up to 300 bars back on the history starting from the current
bar and estimating the max value of iTrend. Then this max is multiplied by 0.283. Why 0.283? I found it experimanting and trading this system for 1 year.
From the beginning - I estimated iTrend max manually every week for M15, M30, H1 etc timeframes. After that - good coder made auto level iTrend indicator so this indicator is making this auto level job: taking max vaklue of iTrend for some period of bars (for 300 bar for example) and multiply this max value by 0.283. So, when you are backtesting - iTrend indicator is making auto levels: you backtest for 300 bars back and you will get one level (max * by 0.283), if you will backtest more than 300 bars (for example) - you will receive the other maximum (one max from 0 to 300 bars, the other max value is calculated since 301 till 600 bars and so on. And every max is multiplied by 0.283).
Sorry for complicated explanation ...
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