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So basically author wants to wait for like 25-30 bars confirmation if Mr. Market made higher high/lower low?...I can see how this EA might work...Wonderful!
Basically a swing high is validated when a prior swing low is taken out. Conversely, a swing low is validated when a prior swing high is taken out. This way it is market driven .
try this..
build two envelopes -- Based on the 20 and 100 EMA's . The envelope is 3 Standard Deviations away from it's mean which is the 20 and or 100EMA. On only certain currency pairs that don't trend long and often. Then put up a standard deviation indicator or average true length ATR. When the standard deviation is declining after price breaks the top of the envelope of 3 deviations you go short. And vice versa to go long.. This is a very simple and rather quite used up reversion to mean strategy -- you're selling the swing highs.. and buying the swing lows.
Cheers
-drgoodvibe
Very good pdf..I have read a strategy like this one before.This guy had this down to a science..this was a thread on forex factory.At first all the regular members downed him and said this would never work.Then after a few posts he broke down the strategy and it had real merit and it got very quite regarding the critics and all began to listen.This is valid and I have seen the screenshots of this guy with 10 pairs on his desktop wait for these setups and trade the breakouts after the bottom and top of hook pullbacks which is the same concept as yours.I am a Gann fan also so I think this is valid.
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Hi everyone,
I have just been reading this great article by Tim Morge on how to identify swing highs and lows which is different to the usual way. I think this this would make a great indicator for MT4. Can anyone please make the indicator for it?
Many thanks for any help.
Wal