The original 6ths used in this method was static and users had to configure their screens to accommodate the data. That was clearly incorrect because price is dynamic and the range it is travelling must also therefore be dynamic.
just another quickie thought, sorry its a bit newbie: my Sixths grid looks much smaller today (see attached compared to my attached 2 days ago)
Applying every spare neuron possible I'm thinking that the 'bar count' variable in the indicator (I set to 288) now no longer encompasses the huge fall around the 24/06/16 (288x4hrs = 48trading days = 9.6weeks) and so the sixths have re-set itself with the more current data and a lower high in that data. Is this a fair assessment?....and if so how does anyone have any thoughts on dealing with a sixths grid that shifts so dramatically..I guess one idea would be for me to manually increase the bar count to keep the old grid in place for the purposes of setting targets.
The version(s) of 6ths in post 1 are therefore reflective of this dynamic attribute of price and it's movement range. How far back the 6ths goes is another moot point (like the MA one discussed earlier) because one needs to answer the question does knowing what the range was 9.6 weeks ago give you more useful information than knowing what it was 8.6 or 7.6 ..... you get the point weeks ago?
I use 150 bars and frankly that is accurate enough when I am dealing with 0.01 lot sizes. If you have read anything by Bob and Steve here, you will know that position size allows you to trade without fear, stress and even if it all goes horribly wrong you can still trade tomorrow.
Why the bottle ? - What lot size were you attempting to trade ? - Take note of my last paragraph above and go for itp.s. the GBPJPY trade took off nicely...shame I bottled it just before the fireworks! Hopefully observing this system will give me confidence to set wider stops in future.