Rationale for the existence of support lines

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I don't believe in support lines. You can see them even where they don't exist - SB (random wandering). To see them is to build on history.

But "believe" is not an approach. That is why I decided to conduct a dumb experiment: build a channel and see how the future price will behave near the edges of this channel.

Here is the drawing picture:

The upper line was plotted at the point in time, which is marked with a blue vertical line. The bottom line was drawn with a pink line.

Man, I don't get it, what kind of bullshit is this?! Why is this bastard price bouncing off a channel that was stupidly built in the past!

Is it a coincidence or a pattern? Is it a coincidence that price has bounced 4 times from the upper boundary and 3 times from the parallel lower boundary with jewel-like precision?

Who has any thoughts on methods for analysing these kinds of coincidences?

 
where have you been https://forum.mql4.com/ru/34715
 

As I was writing this post, from the same channel, the price reflected again:

 
sanyooooook:
where have you been https://forum.mql4.com/ru/34715

Channels with super accuracy on history can be found on SB as well. Why the hell would I want to engage in self-deception. So I built a channel and only watch the current price.
 

I too am puzzling over a similar question at the moment. I've tested it on the story more than once. Yes, there are beautiful moments. But in my opinion it's a coincidence. I just don't see any logical reasoning why price should bounce off it.

Although there are whole systems built on trading in the channel.

 
Everyone wants to see channels. That's why price bounces off them. The crowd effect.
 

So it's just a coincidence that the first time I built two lines from scratch, it turned out that the future price was reflected from them 5 and 3 times with excellent accuracy?

And the upper line was drawn on a very shallow price movement.

 
hrenfx:

Channels with super accuracy on history can be found on SB as well. Why the hell would I want to engage in self-deception. That's why I built a channel and only watch the current price.
The channels that are shown there were built at the beginning of the euro trend, but they are still working, you may consider it as self-deception if there are no reasonable explanations for price behavior in the area of lines, you may consider it as a regularity if there are such explanations
 
Whether or not it is considered self-defeating is not an approach. There has to be a method to show for sure that there are no such lines on the SB. And would answer this question in relation to the WTC.
 

The simplest method of drawing support lines that came to mind:

  1. We have the outermost 100 bottom tops.
  2. We start to go through all possible combinations of these nodes and build MNC lines.
  3. Each such line will have a different MNC value.
  4. Obviously the lowest (zero) OLS will be for lines based on two points, so we drop these variants.
  5. We want the line with the lowest Alpha = MPC / F(number of plotted points). Where F(x) = x^n or F(x) = e^x or F(x) = log(x) - we need to see.
 
hrenfx:

The simplest method of drawing support lines that came to mind:

  1. We have the outermost 100 bottom tops.
  2. We start to go through all possible combinations of these nodes and build MNC lines.
  3. Each such line will have a different MNC value.
  4. Obviously the lowest (zero) OLS will be for lines based on two points, so we drop these variants.
  5. We want the line with the lowest Alpha = MPC / F(number of plotted points). Where F(x) = x^n or F(x) = e^x or F(x) = log(x) - we need to see.
Are you up to your old tricks again? And in Russian, one word I understand is line.
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