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Picking price targets

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Ken McCormick
789
Ken McCormick 2013.09.15 22:34 

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
55383
Sergey Golubev 2013.09.16 07:41  
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
4481
Mehrdad Shiri 2013.09.16 08:49  
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
789
Ken McCormick 2013.09.16 16:54  
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
30722
Alain Verleyen 2013.09.16 17:23  
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
789
Ken McCormick 2013.09.16 17:27  
angevoyageur:
Can you please post MT5 screenshot ? Thanks.
Sure.
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