Dear All
A post from ST Sir
I need an AFL to plot the lines similar to the magenta lines as shown in the chart.
The idea behind that is
Those are the lines showing gaps in the earlier top and the reaction bottom after breaking the tops...Referring to the gap between the Pivot high market breaks to the upside and the Pivot low or reaction low after the high is broken. If there is no such gap and market breaks the top,and reacts and gets into the top it broke...that trend is called a creeping trend which is weak and as a general rule indicates that market is near its reversal ( there are certain exceptions though....).
Appreciate all the help.
A post from ST Sir
See those magenta colour lines on the chart ? Those are the lines showing gaps in the earlier top and the reaction bottom after breaking the tops....these gaps show that the trend is strong and about to blow off.. .... After such gaps the trend accelerates.....you can see that on any chart, any time frame......if coupled with other techniques, it gives great confidence to hold the positions, add and wait till the trend is about to end.....
Smart_trade
Smart_trade
The idea behind that is
Those are the lines showing gaps in the earlier top and the reaction bottom after breaking the tops...Referring to the gap between the Pivot high market breaks to the upside and the Pivot low or reaction low after the high is broken. If there is no such gap and market breaks the top,and reacts and gets into the top it broke...that trend is called a creeping trend which is weak and as a general rule indicates that market is near its reversal ( there are certain exceptions though....).
Appreciate all the help.