Rising or falling - page 2
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it's depend on volume. If instrument is illiquid this kind of bar gives nothing. But on liquid instrument like USD/EUR, Gold, Oil. Could make a good profit.
Idea isn't bad at all. Need to try to make profit.
Indicators always are derivatives of the price or volume. You looking for help in this case. But is the best help is good understanding of market. I don't use indicators. They are often mislead.
OHLC chart IS indicator. There is no trading without indicators - or you do not use charts at all
OHLC chart IS indicator. There is no trading without indicators - or you do not use charts at all
That is one thing that PA traders always forget
I don't use indicators but I look at the older time frame. All indicators follow for price and give signals too late. If I see down trend i try to open short position on levels where was accumulation of volumes is past periods. Price usually go from one accumulation till other.
You can see here trading in real time to understand how is working: https://www.youtube.com/watch?v=REJD4oUqCwk
You can see here trading in real time to understand how is working: https://www.youtube.com/watch?v=REJD4oUqCwk
SPY can not be traded from most metatrader brokers
I have an impression that you are forgetting that OHLC chart is an indicator too. "Price action" is so mystified that so far I have not found a single reasonable explanation of it except that "trade the price action" means nothing - pure gambling
It is vey hard to put it in words what you see with PA-trading. That's why you get very different answers, when at all. It relies on long-time experience. Take M1 and M5-charts and watch it carefully developing (not in history - it is real time decision making). With time, and I mean maybe 2-3 month, you see not only Double and Triple Bottom, Head&Shoulders, also other patterns just how the current candle changes and so on, especially when trend is exhausted. The indicator is you, your skill to see what happens and what will happen while all others look on their stochastics, RSI and what so on. Volume or volume ticks helps you a lot to confirm your decision. Forex is just a normal market as every other too and so it works, with fixed rules. These rules get visible for you when you have experience also earned from any other market (horse-trade or e.g. toilet paper). "Only trade on H4 or daily." - This is bullshit in Forex. You learn nothing (time windows are much to long) and let most pips passing by. This time frames are for trend lines, big trends and reversals. The money you earn on M5. The rules are the same on every time frame and when you see and feel PA you know what I mean. The 'chaos' vanishes and possibilities appear. Using indicators is nothing but gambling. 95% loose, ask yourself why. A hint: Don't blame the market.
SPY can not be traded from most metatrader brokers
Talk about not tarding, but analisys of instrument. Yes, forex broker didn't show quotes but you can find it if you want.
PA trading is mostly based on intuition - too much patterns that can change with any future price change
As far as I know this is the only free PA trading based on very solid testing statical background:
http://mechanicalforex.com/2015/01/openkantu-the-first-free-and-open-source-price-action-based-trading-system-generator.html