trend line based on 2 price highs lets say from 5:00 EST and the close of 2:45 AM EST
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hello can an indicator be createated based on this information,, I am not a code writer so if anyone can help thanks in advance..
basically is drawing a trend line from the asian open to the london open,,
Now wait until the close of the 02:45 ET candlestick.
Now as soon as you see the close of 02:45 ET Candlestick, draw a Straight Line from the close of the 17:00 ET Candle
to the close of the 02:45
Once you have drawn the trend line correctly, observe where does the next candle opens. If the next candle opens above
the trend line then enter the Market with a Buy and if this candle opens below the trend line then enter the Market with a Sell. This
means you are entering the Market in the direction of the next candle. Blue candles are formed when the Market is
going up and Red candles are formed when the Market starts going down. Each candle's duration is 15 minutes in our
case, as we have 15 minutes chart open.
Next we extend the trend line . the trend line acts similar to a Support and Resistance Line. We buy when a Blue
Candlestick goes above the ZTL and we Sell when a Red candlestick goes below the trend line.