how to identify price reversal points - page 4
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Perhaps you are using the wrong definition of a flat, if no indicator is showing it.
I didn't say that none of them show it. Trend indicators don't show it. But adaptive methods work quite well https://www.mql5.com/ru/forum/133948.
It is quite understandable that you don't have to be at the turning points to make money at all. You can take the example of individuals who pick up recyclables at recycling bins, sort them and give them to collection points or whatever.
I hope this is not an unsubstantiated statement, but an invaluable example from personal experience!
otherwise, why would there be a need to mention it. :)
how to determine price reversal points
There are no price reversalpoints , there are shapes and probabilistic areas,
They both work intermittently, do not give guarantees and cannot be strictly formalized.
Pivot according to Sperandeo, double top(bottom), head and shoulders - the traditional shapes, but even in spite of their "simplicity", to try to put them into an Expert Advisor or indicator is a dream of an idiot.
However, auxiliary indicators can be created, for example, an indicator that scans several charts in several timeframes and alerts if there is "something similar",
and then you can play with your mind,
or a neural network - if you put it above... :)))
I hope this is not an unsubstantiated statement, but an invaluable example from personal experience!
otherwise, why would there be a need to mention it. :)
how to identify price reversal points
There are no price reversalpoints , there are shapes and probabilistic areas,
Both of them work occasionally, provide no guarantees and cannot be strictly formalized.
"how do you determine price reversal points" = "there are shapes and plausible regions"?
-" there are no price reversal points , there are shapes and probability domains, both of which are occasional, no guarantees, and cannot be strictly formalised."
- "I hope this is not an unsubstantiated statement, but an invaluable example from personal experience!"
)))
An entry point and a pivot point are different things. They may or may not coincide.
An exhaustive but absolutely NOT helpful answer. I'm looking for a ready-made indicator or set of indicators that I can refine myself.
"how to identify price reversal points" = "there are shapes and probability areas"?
-" there are no price reversal points , there are shapes and probability areas, both work sporadically, provide no guarantees, and cannot be strictly formalized."
- "I hope this is not an unsubstantiated statement, but an invaluable example from personal experience!"
)))
To identify pivot points, you must first define the TF where the search for these pivot points will take place, otherwise the set task itself has a vague notion of what you need to do and what to get - fuzzy logic for solving an unclear task... Ask the right questions - as one professor said in the movie "I am a robot"
An entry point and a pivot point are different things. They may or may not coincide.
Correct! But then you have to find the conditions under which they coincide. In other words, filter out the "bad" pivot points. For this purpose, we can use channel and trend indicators. Each TS has its own indicators. You can make money on such entry points. Amen.
SHI_Channel_true.mq4 draws a channel. It is quite clear. By the way, the zigzag in the first picture does it as well. The question of price reversal (the subject of this thread) implies creation of a good oscillator. Do you have one (better than the one shown on the second picture)?
To identify pivot points, we must first define the TF where the search for these pivot points will take place, otherwise the set task itself has a vague notion of what we should do and what we should get - in fact, it is fuzzy logic for solving a fuzzy task.
The definition of pivot points does NOT depend on TF, but it depends on the "scale" of quotes examination, i.e. on the indicator period, which is always a tuning parameter. So the task is set up normally.
It is always much easier to refer to an incorrect problem statement than to propose a solution that satisfies various conditions.