Quote:
Originally Posted by newdigital
It is indicator for forecasting of the daily range according to DeMark (daily range - min and max D1 or support/resistance on the current or next day). Author of the indicator is KimIV. This indicator is not working on D1 and more higher timeframes.
But H4, H1, M30 and m15 is ok.
And 100 days is ok (see image). But I think 100 days is necessary just for backtesting only. The most important thing is forecasting for tomorrow and daily range in the current day.
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You can actually use these to trade breakouts on as well. Especially for anything that doesn't trade 24 hrs and opens above or below these lines, you can trade them in the direction of the high/low towards the opening gap. Pretty reliable trade, each and every day. Its a variation of TD Rebo, if anyone is familiar. On fx charts, I would recommend trading breakouts on smaller timeframes, confirmed with TD Breakout Qualifiers, or on a simple pullback to the 8ema, if price is strongly trending.