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| identify a Ranging Market https://www.stevehopwoodforex.com/phpBB3/viewtopic.php?t=1609 |
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| Author: | effluvium [ Tue Mar 12, 2013 12:18 am ] |
| Post subject: | identify a Ranging Market |
This indicator is just an adaptation of one which is largely diffused and used in Forex Factory Forums. I have just extracted the core of the calculation and placed it without anything else. This indi has to be attached to a specific pair and a specific TF. It then draws 2 parallel lines forming a channel. If the price curv is running inside this channel then Market is ranging and you should wait till it goes outside (above the upper/ below the lower boundary) That's it. You could also set the width of this channel, if you want to widen it or to narrow it according which TF you want to trade, (In this case your values will override the standard values) Just remember that this indi is using the following standard ranges to represent the ranging channel, for these different TFs : - Monthly & Weekly --> 0.5 Daily --> 0.4 - H4 --> 0.14 Hourly --> 0.08 - M30 --> 0.05 M15 --> 0,04 M5 --> 0.02 M1 --> 0.01 See here in this EURUSD chart how this indi is revealing (for today) that this pair is ranging in H1 |
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| Author: | phil_trade [ Tue Mar 12, 2013 4:38 am ] |
| Post subject: | Re: identify a Ranging Market |
Hi did you use it with succes ( manual or in EA ) ? |
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