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    Thread: Indicator based on price action

    1. #1
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      Default Indicator based on price action

      it's rarely to see indicators based on price action, this one I bring you today is one of the best tool I know in forex, it can help traders to trade based on open price, it's very simple for who trade with support and resistances levels, the price ususally react to the open price line.

      what a trader need is the open price and certain target to make profit, that's the objective of this indicator. the screenshot below can show you how the price react to its lines, you just need to be smart and enjoy from it.

      happy trading

      0 - Weekly Open + Targets.mq4
      Attached Images
      Last edited by tahiri; 03-15-2017 at 01:30 PM.

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      Arief Makmur (06-14-2017), dzin4aans (03-31-2017), jontarno (10-02-2017), NikitaBelle (03-19-2017), PhAnToMtRaDeR79 (07-04-2017)

    4. #2
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      IMo: Indicators based on Price action itself is Zigzag Indicators because they can give us the view of the Higher High - Higher Low or Lower High - Lower Low and sometimes give us a clue about the The Double Top/ Bottom, sometimes Head & Shoulders and 123 Pattern.
      "Don't be a hero. Don't have an ego. Always question yourself and your ability, Don't ever feel that you are good. The second you do, you are dead." By Paul Tudor Jones.

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      Quote Originally Posted by Arief Makmur View Post
      IMo: Indicators based on Price action itself is Zigzag Indicators because they can give us the view of the Higher High - Higher Low or Lower High - Lower Low and sometimes give us a clue about the The Double Top/ Bottom, sometimes Head & Shoulders and 123 Pattern.
      I dont agree with you , zigzag indicator is just like the other lagging indicator, when you draw it in your chart in a real time, you never know the formation of tops and bottoms when they can end or form again until the price reverse far from these areas, besides this one above is based on open price, which is unique in all time frames and never change.

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      Quote Originally Posted by tahiri View Post
      it's rarely to see indicators based on price action, this one I bring you today is one of the best tool I know in forex, it can help traders to trade based on open price, it's very simple for who trade with support and resistances levels, the price ususally react to the open price line.

      what a trader need is the open price and certain target to make profit, that's the objective of this indicator. the screenshot below can show you how the price react to its lines, you just need to be smart and enjoy from it.

      happy trading

      Attachment 67152
      i think that this trading indicator uses pivot points to plot is lines but i think that pivot point are still not price action trading for they depend on past price to plot their lines
      and i don't think that there is any price action indicator for price is in real time and indicators use history data to calculated in their codes
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      Quote Originally Posted by kameio View Post
      i think that this trading indicator uses pivot points to plot is lines but i think that pivot point are still not price action trading for they depend on past price to plot their lines
      and i don't think that there is any price action indicator for price is in real time and indicators use history data to calculated in their codes
      no; this indicator doesnt use pivot point, it simply use the weekly open price which is pure price action, the targets are simply to determine exit position, you can modify the targets in the settings and you put whatever you like, 40, 50, 60 pips or more.

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      How about the HEIKEN ASHI ?
      "Don't be a hero. Don't have an ego. Always question yourself and your ability, Don't ever feel that you are good. The second you do, you are dead." By Paul Tudor Jones.

    9. #7
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      personaly, I never use HEIKEN ASHI in a real trading, but I read in the journal section a thread where the journal owner use this indicator perfectely, the use of indicator can be usefull if a trader study very well this indicator and know how to add it to his trading process, it can help in some trading process, here is the link, this journal is impressif.

      http://forum.mt5.com/showthread.php?...or-of-the-wave

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      Quote Originally Posted by tahiri View Post
      personaly, I never use HEIKEN ASHI in a real trading, but I read in the journal section a thread where the journal owner use this indicator perfectely, the use of indicator can be usefull if a trader study very well this indicator and know how to add it to his trading process, it can help in some trading process, here is the link, this journal is impressif.

      http://forum.mt5.com/showthread.php?...or-of-the-wave
      As I know Heiken Ashi its a modified Candlestick who will be smoother so Heiken Ashi not will easy change the color in single trend movement.

      Anyway did you already now the Steve Primo indicators base the Bar Charts called the PETD-D stands from Primo's Early Trend Detector ?

      "Don't be a hero. Don't have an ego. Always question yourself and your ability, Don't ever feel that you are good. The second you do, you are dead." By Paul Tudor Jones.

    12. #9
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      Quote Originally Posted by Arief Makmur View Post
      As I know Heiken Ashi its a modified Candlestick who will be smoother so Heiken Ashi not will easy change the color in single trend movement.

      Anyway did you already now the Steve Primo indicators base the Bar Charts called the PETD-D stands from Primo's Early Trend Detector ?

      I have many similar indicators where candles change their colors from green to red or vise versa, but I dont trust these indicators any more, they just follow the price.

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      I also not feel comfortable using these indicators which are created with their own script or their calculations, I feel price not follow any complicated calculations I just feel save using few indicators which are highly famous and are getting used by lots of experts, I did not understand its working as we see a simple movement at a specific time, if this work then you should upload your performance report with this on daily basis.

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