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Picking price targets

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Ken McCormick
792
Ken McCormick  

Here is a way to pick price targets based on past price action.


Chart USDJPY, M5, 2013.09.15 20:31 UTC, Forex Capital Markets, LLC, MetaTrader 5, Demo
Sergey Golubev
Moderator
101554
Sergey Golubev  
Are there many support/resistance/trend lines/levels? It reminds me Level Trading manual system but as far as I remember there were no trend lines on this system (people traded using horizontal levels only).
Documentation on MQL5: Standard Constants, Enumerations and Structures / Objects Constants / Object Types
Documentation on MQL5: Standard Constants, Enumerations and Structures / Objects Constants / Object Types
  • www.mql5.com
Standard Constants, Enumerations and Structures / Objects Constants / Object Types - Documentation on MQL5
Mehrdad Shiri
4722
Mehrdad Shiri  
KenMcCormick:

Here is a way to pick price targets based on past price action.

how to draw this lines ?

what is the Principles to draw them and what are those ?

Ken McCormick
792
Ken McCormick  
newdigital:
Are there many support/resistance/trend lines/levels? It reminds me Level Trading manual system but as far as I remember there were no trend lines on this system (people traded using horizontal levels only).

Go with the trend, and back test against the previous price action, using trend lines.This one use the inverse of the indicator and trend lines to find the price targets.


Alain Verleyen
Moderator
35042
Alain Verleyen  
KenMcCormick:

Go with the trend, and back test against the previous price action, using trend lines.This one use the inverse of the indicator and trend lines to find the price targets.


Can you please post MT5 screenshot ? Thanks.
Ken McCormick
792
Ken McCormick  
angevoyageur:
Can you please post MT5 screenshot ? Thanks.
Sure.
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