Catching a reversal or correction - page 24

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Gerasimm:
And what are these horizontal lines? I keep asking. Dotted and solid lines. What are the conditions for their appearance?
The same as in your drawings - the levels, at the breakdown of which we enter the market. However, I did not cancel the patterns, if the point 3 has "failed" beyond the "1-2" range - it is easy, but I am waiting for specific comments and suggestions, including - on this point - from all interested. The algorithm for recognizing the "1-2-3" pattern is primitive: I look through all bars from the last to the first one in the history identifying the combination of fractals "senior-lower" (without intermediate fractals between them). Regardless of the subsequent price movement, the support/resistance line of the identified combination is formed from the lower fractal of the corresponding colour (discontinuous). At the moment of price breakdown of this line, the last one changes colour, "gets thicker", becomes solid and breaks off - it is the moment of entering the market (in the next version, at this moment SL and TP will be formed on the chart).
 
In other words, a broken line can be considered a pending order, and a solid line can be considered a triggered pending order. Only the colour changes when the line is triggered (breaks).
 
I understand, it's not necessary. It's all "sour" fractals. You need fresh, and after the extremum, so pending and triggered ones should be lost anyway. I recommend filtering through the "high-low activator". I'm running it in m15 simulator. I like it so far. With larger times it will be more stable. Good luck :o) I am actively simulating, looks like this...
 
Gerasimm:
I understand you don't need it, it's all "sour" fractals. You need fresh, and after the extremum, so pending and triggered ones should be lost anyway. I recommend filtering through "high-low activator". I am running it in m15 simulator, I like it so far. With longer timeframes it will be more stable. Good luck :o) I'm actively simulating, looks like this...
Well - it looks great! :)
 
tara:
Well - it looks great! :)
Well, yes, in fact, we're still going strong without a single indicator, because the existing functions are purely registering. I think it is still time to call for 161.8 and 200% expansion... I'll do some digging in the backyard :o).
 
Gerasimm:
Well, yes, in fact, we're still going strong without a single indicator, because the existing functions are purely registering.It remains to beat the exit, which is more problematic by leaps and bounds... I think it's time to call in the 161.8 and 200% extensions... I'll do some digging in the backyard :o).
Fibo doesn't need to be called... they come by themselves. Better to dig, imho.
 

After an entry a stop is set at the maximum/minimum price (point 3) and 100% of this distance in pips from point 2 is taken to set a profit.

Probably you can hear some discontent about profit = stop, but at the expense of clean entry you can get a nice edge. there are more options, but we need to start with a similar one.

 
Gerasimm:

After an entry a stop is set at the maximum/minimum price (point 3) and 100% of this distance in pips from point 2 is taken to set a profit.

Probably you can hear some discontent about profit = stop, but at the expense of clean entry you can get a nice edge. there are more options, but we need to start with a similar one.

Then I should change the pattern building rules - at the point 3 the lower fractal should be present. I will do it today.

By the way, I removed the "sour" patterns - they will not be in today's version, the screen is cleaner, but some of the useful signals are gone too:

 
tara:

Then I should change the rules of pattern forming - the point 3 should contain a minor fractal. I will do it today.

By the way, I removed the "sour" patterns - they will not be in today's version, the screen is cleaner, but some of the useful signals are gone too:


OK, I get it, but what's the usefulness of sour signals?
 
Gerasimm:
OK, I get it, but what is the usefulness of "sour" signals?

Looked at the formation of support/resistance levels. By the way - more likely yes than no.

Didn't have to change the rules - now we have the classic 1-2-3, so I'm posting the current working version, so as not to slow down the work.

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