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I want to disccuss : how to measure the strenght of trend and where the potential for turning point of trend?
1. How to measure the strenght of trend?
Ussualy I used Bollinger Band for momentum of trend but BB base on SMA => lagging indicator
I used Stochatich for confirm overbouth or oversold but I can’t know when stoch will reach to the overbought/ oversold area or how long stoch will stay in over area???
Finally I found 2 thing
1. Trend in trend – you have to see the upper time frame is walking on which trend? – best trade is 2 wave sync
2. if you add bollinger band to Stoch you will see the momentum up or down sooner
One problem of this method is Stochatich ranger 0 – 100 => some time BB in stoch not enought clear view momentum of trend
I user CCI with some changer for confirm
As you can see that is more clear about the momentum of trend 🙂
with changed CCI – if you choose period = 20 => it act as you work with bollinger band (outsite band as the signal for overbought / oversold)
Remember: trend in trend => trade when trend is sync
2. where the potential for turning point of trend?
User overbought/oversold is the potential for turingpoint – one solution
user ATR channel is other solution
Here is sultuon I used to confrim overbought/oversold indicator.
Finally: When you analysic from top timeframe to down time frame, you should use Elliot wave trend for build the price scenario => indicator is confirm for price way.
Ready for scenario – ready for know why indicator show 🙂
Hope to see trade feedback
Hi. One question, Phan Duck.
Would that be possible to reduce amount of technical indicator from this analysis ?
Currently I am observing you are using BB, stock, CCI, ATR in your analysis. Check this Price Pattern Table.
In my opinion, EURUSD is more strong with fifth regularity even fourth regularity is very small too.
Too many technical indicator is bad for the fifth regularity. Try to use minimal technical indicator only.
Yes I Know that i’m using too many indicator.
Simple: BB + stoch + CCI => for confirm how trend is strong???
ATR using for potential overbought/ oversold.
Thinkking for reduce number of indicator 🙂
I see this indicator like my strategy: BB + Stoch – jusst too expencive (249 usd)
Phan Duc said
Label 1,2,3,4 is ziczac with other step => help me in locate counting elliot wave
It is good approach to count Elliott Wave. It is indeed what our Pattern and template approach for Elliott Wave Counting does. Making things simpler for Elliott Wave Counting.
Can you share the ZigZag indicator with us ?
Really appreciated your sharing.
Phan Duc said2 times of cutting 🙂I use Elliot wave trend for counting Elliot wave and buit plant for direction of price.When indicator give me some infomation, I double check with my Plan => make sure i going in correct trend (not corrective trend) => go ahead with confidencePDCA – Plan – Do – Check – Action 🙂
The strategy itself seems quite robust. Now, I am checking your screenshot from previous post. Also if you can post more screenshot in the future for better understanding.
Here is the link for the free peak trough analysis. The idea will be more or less similar to your zig zag indicator. Peak Trough Analysis will act as the assisting tool for your wave counting and pattern detection.
MetaTrader 5: http://algotrading-investment……sisMT5.zip
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