Glad you are finding it useful.TableTop » Sat Jan 22, 2022 2:43 pm wrote:Just wanted to say thanks to Steve for this indicator. I'm new to automated trading and mostly still testing systems.
I had assumed (yes I know what that does) that Peaky was just to help EAs figure out up from down and didn't really consider it for manual analysis. However, it's made its way onto a few charts and templates that I use for manual analysis. This weekend I've been running back over previous trades and noticed how powerful this indicator can be. I still have more analysis to do but I can see a number of previous trades where I could have done things differently (mainly not entered). This may mean fewer (but higher probability) trades which suits my approach to trading.
This tool is extremely simple to use, and as they say, simplicity is the ultimate sophistication (or something like that).
We are fighting the overall market direction if we buy when it is moving away from a peak high, or selling from a peak low. This is particularly true if we are trading against the prevailing movement two time frames higher.
As you are new to automation, try Slopey Peaky Bob. Start at this post:viewtopic.php?p=173350#p173350, where I describe my experiment with single pair basket trading and read to the end of the thread. I started trading this live late in November and have enjoyed success.
