I am following this with great interest, and also looking at applying the method to longer pipbar charts.
I note that the long entry shown here is during the white dot period. Also the short entry is while Eco is still green.
Please could you confirm the ATR settings you have now? I know they were 1,5 before, are they 2.75, 14 now?
Indeed, i apply the new ATR-settings for now.
Concerning the ECO-indicator, the pure function of this indicator on it self, is to identify long or short price movements.
So histogram (green/red) is additional and is only changing color when crossing the zero-line.
To confirm a long/short from the ECO, the slope of the price action has to be the same as the ECO-line.
(wich is NOT the fact half way the shown long position)
Concerning the white dots, you see a nice breakout above these dots on the start of the long position, same for the shown short position.
Hope this helps...
PS. The longer (higher) the range bars, the higher the (possible) PIP's,
but also the higher the (possible) losses !
Well, the answer is NO !
When the market is too choppy, don't trade or look for higher
PIP range bars...or another currency pair.
How do i know, not to trade ?
Switch to a higher range bar chart (6 - 8)
When you have the same picture, DON'T TRADE...Wait !!
I'm afraid the MACD_ZeroLag_Colors is not reliable to mark the entries. Look at the frames in the pictures attached. The only difference is that I resized the bottom area. You get different entry points because everything resizes except that indicator.
Yes indeed, not reliable.
Look what i found ...
I took the same picture from this setup together with my "old" one.
Have a look !
PS. The picture "Big Tape" is not my chart, took it from the net.
The slingshot picture is fascinating. My first instinct was to hang it on the wall as a sample of post- modern art!
But maybe there's a better use of it. I managed to duplicate the slingshot, but what about the rest? Thank you
Hi Desander, i've been following for a while great info.
can you tell me exactly what indicators i will need and where i can get them?
So, I see that these range bar setup's are getting more and more interest.
Therefore I suggest you would have a look at three different approaches,
based on range bars and Renko based bars... :
The three different included charts are taken at the same time, in the same time format.
If you would have the option to look at these charts on 3 different screens, you obviously have an huge advantage. (i know some people who do so)
Trade system 1 : Setup and indicators already published
Trade system 2 : Install ColorSampleUniversalMA-indicator and set WMA's as shown in the example
Trade system 3 : Install the SbSRenko.zip as an indicator, but use it as a data format (see chart) The rest of the setup as system 1...
Let me know if you encounter any problems.
And here the missing indicators...