Has anyone created an automated method or has an idea about a way to do one that determines if a symbol is trading within a range and determining the range?
I am working on an indicator that does that, so I would like to hear if anyone has any input.
Say you set a timeframe and you see if there are 2 level within which the symbol seems to be trading within.
If someone has a logic for automatically determining these levels other than just manually drawing 2 lines at the highest and lowest values.
I'd use absolutestrengthmarket_v1 to determine if it is in range and donchian channel (or bollinger) for the levels
Forum on trading, automated trading systems and testing trading strategies
Gold is Reaching at 1270
Sergey Golubev, 2013.07.01 21:04
How can we know: correction, or bullish etc (in case of using indicator for example)?
well ... let's take AbsoluteStrength indicator from MT5 CodeBase.
bullish (Bull market) :
bearish (Bear market) :
ranging (choppy market - means: buy and sell on the same time) :
flat (sideways market - means: no buy and no sell) :
correction in a bear market (Bear Market Rally) :