How can you to tell that the Bull/Bear trend is over without indicator?
Let say we had 3 legs down.
The 3rd leg got 100% retracement.
1. Does a 100% retracement on the 3rd leg means the trend is over?
2. Do you know any other method that tells you the trend is over?
Thank you guys.
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For us who is lazy defining the BEAR/BULL leg.
I programmed a zigzag indicator (no redraw).
The zigzag is based on Stochastic.
In the indicator data window there are 2 variables
1. StochasticZigZag which indicates the price
2. Value2 indicates Oversold/Overbought of Stochastic (1 = OVERBOUGHT, -1 = OVERSOLD).
Here is a simple example on 100% RT using the zigSto indicator
Indicator update.
Now the Stochastic in the zigzag can be configured accordingly. I use
kPeriod 14 or 5
Slowing 3 or 3
dPeriod 5 or 3
Let say we had 3 legs down.
The 3rd leg got 100% retracement.
1. Does a 100% retracement on the 3rd leg means the trend is over?
2. Do you know any other method that tells you the trend is over?
Thank you guys.
=========================
For us who is lazy defining the BEAR/BULL leg.
I programmed a zigzag indicator (no redraw).
The zigzag is based on Stochastic.
In the indicator data window there are 2 variables
1. StochasticZigZag which indicates the price
2. Value2 indicates Oversold/Overbought of Stochastic (1 = OVERBOUGHT, -1 = OVERSOLD).
Here is a simple example on 100% RT using the zigSto indicator
Indicator update.
Now the Stochastic in the zigzag can be configured accordingly. I use
kPeriod 14 or 5
Slowing 3 or 3
dPeriod 5 or 3
Attached File(s)
zigSto.mq4
3 KB
|
403 downloads
|
Uploaded Apr 19, 2017 6:35am
This is not investment/trading advise. Will not hold accountable for loss