This High-Low Trend is a work of art. I was wondering if someone could put a bar limitation parameter on the indicator. I would like to limit the processing on offline charts.
After years of poking around, I settled on an 8 pip constant range bar. I have used renko and tick bars, but I like how these show market structures while uncovering the price action hidden in higher timeframes. For a long time I thought a 5 pip bar was better, but I was being turned around in more volatile markets. With the 8 pip, it still gives me a good R:R on entry to previous price action but with more structure than say a 10 pip constant range bar. Mladen's High-low Trend gives me the larger structure to draw my trend lines and trend barriers to see when price stretches without thinking too hard about it, and I get to trade very tight to individual price fluctuations. The pip count makes it simple for me to check for the session range, ADR and size of expansions relative to previous vertex sizes, giving me a clue on how far the market may go.
The chart set up I posted uses custom indicators that aren't mine to share, but a virtually identical chart set up would use a LWMA Keltner channel at 34, with a separation between the channels at 1.6, and the HA bars are painted with the Synergy Pro APB, with a Laguerre Stochastic to show me when the market impulses are strong enough for a response. Along with some other utility tools (like session high lows, etc...) and drawn trend lines, it's a simple setup but with a lot of market legibility. All of these indicators are available here or elsewhere. With a basic understanding of accumulation/distribution areas, harmonics, power laws and the fractal nature of the market, there are many set ups within this chart to trade profitably every day.
The difficulty of trading anything, of course, is trusting what you see, and that unfortunately can only come from time, some hard knocks and a lot of sweat. There are no shortcuts, and there is no holy grail. I have found my way to trade. I hope everyone here finds theirs.
Does anyone has this indicator ? So in the middle of the graph, you seen all the lines come together with this blue green icon, and apparently that was the low of the day.
If you had to choose between these two indicators (yours!), which one would you prefer for 1D timeframe?
Many thanks in advance! Jos
No matter how thick of the font you applied, if it is not posted as mq4 file, then it will not be posted as such.
God bless you.
Would you please add alerts for this indicator