@Billions Didn't see any white arrows for today or yesterday, but it was there from a couple days ago. Very rare to spot.
Thanks Ben@Billions Didn't see any white arrows for today or yesterday, but it was there from a couple days ago. Very rare to spot.
So in the settings I would change from 50 to 150 is that correct?Don't know if anyone cares, but BD has been originally designed to be used on 15 minutes, with 15 EMA as a filter for the channel. If you're using 50 MA on 15 minutes, you're trading a running average of the 12.5 hours time frame. If you're using 15 EMA as a filter, you're using 3.75 hours filter. Personally, I don't agree with the EMA settings, I think SMA should be used, but there isn't that much of a difference.
On 5 minutes, it is a totally different ball game. If you're using 50 MA channel on 5-min, you're trading a running average of 4 hours. So basically, on 5-minutes, you're trading 15 EMA of the 15 minutes. If you want to trade 5-min and want to stick with the original design, the length of the channel should be 150.
Have you used this and what is the outcome?@Billions
Have you loaded up a 5m / 100day chart or something? You don't get the black dogs every day. Sometimes not for weeks at a time.
Another way to do it... add 20 and 100 EMAs on a 20 minutes chart. Find where they cross. Go to your 5m chart and that's where you should have a dog.
Thanks @john3@Billions I don't use the original system. I use the VWAP, volume profile, RSI and Fibs.
Generally speaking, for intraday trading, if the price is above the 50 channel and 50 MA > 200 MA, the price is an uptrend and vice versa. But here is the thing, it isn't that simple. The price is often in a counter-trend, either going towards the 50 channel from above it or below it. It is going to encounter resistance and reverse when it runs into the prior range, the first touch is usually a high probability trade. When 50 and 200 are near each other, we get a lot of chop.
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