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the indicator is made from COG indicator.
put COG on your chart, with settings: bars back= 85 and m= 1 and you will get TP line (intesects in the middle).
Except with angle according to the trend.(COG is ploted in angle, same way as linear regression lines are). Play with kstd (standard deviation) and you will get the support and resistance lines.
Or you do it the simple way ale plot on the chart linear regretion channel with length of 85 bars.
COG with m=1 is simple regression channel, "m" means number of curves of this indicator - polygonal channels.
Trading with COG is very succesfull in ranging market, but in trending market it will beat you, if you are not going with the trend direction.
Traders with COG have usualy very high profit trades ratio, but they are usually trading with very high stoploss (sometimes even without any)!
On detail, COG is a very misleading indicator because you can put it on a chart without knowing it repaints and think it's the holy grail. With the indicator of this thread, there is no way you can be mislead.
This indicator is great except it repaints again. So it will not be good for trading.
repainting is no problem for real life tranding. Its problem for backtesting only. You have to backtest in trading simulator do see how this indicator behaves.
On detail, COG is a very misleading indicator because you can put it on a chart without knowing it repaints and think it's the holy grail. With the indicator of this thread, there is no way you can be mislead.
repainting is no problem for real life tranding. Its problem for backtesting only. You have to backtest in trading simulator do see how this indicator behaves.
Think Ill chime in on this. Thanks for the Trade simulator!! Using the trade simulator on this indi shows that it will be difficult to pick the top of the repainting of the sell or buy lines. I'm remain skeptical.
On detail, COG is a very misleading indicator because you can put it on a chart without knowing it repaints and think it's the holy grail. With the indicator of this thread, there is no way you can be mislead.
Hello has all,
this indicator m' interest, but as I am in France j' would like to know s' it is possible of l' to use correctly with l' French hour (GMT + 2) with a broker the U.K. (GMT+ 1)
Thank you for your answers and if quelqu' good adjustments I have am taking.
Best Regards.
Linear Mode
