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Originally Posted by EACAN
I have developed the MurreyMath ea which sells at 8/8 to 2/8 or buy at 0/8 to -2/8 is this the best place to buy and sell as the indicator shows or is their anyother logic behind this indicator i am trying to find resources as much as i can for MM to how to best use it any input Xard777 would be helpful.
regards
EACAN
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One of Murrey's Laws is:
If it cannot close above its MM +2/8th, it
will have to come back down and touch its MM 4/8th
This strategy I can relate to as most times it will do just that and continue further down towards the 2/8th, 1/8th & 0/8th the first time down.
That's why he says sell half your position and let the other half run
Another Law of Murrey:
If it closes, a “baby” 2/8th below MM 3/8th, then it will fall to 2/8th, 1/8th or 0/8th again backing up the previous Law.
Both these strategies work in reverse
if it cannot close below its MM -2/8th, it
will have to come back up and touch its MM 4/8th
If it closes, a "baby" 2/8th above MM 5/8th, then it will climb to 6/8th, 7/8th or 8/8th.
The MurreyMath.TimeFrame indicator that I posted earlier shows the "baby" 2/8ths as the white solid lines (the white dashed line being 4/8ths)
Hope this helps with your research,
regards
Xard777
ps Checkout
http://www.tradersworld.com/murrey41/