My tests are telling me a couple of things that I'd like to exploit better than I know how to exploit right now. There are so many indicators. Which one(s) would serve to detect channels best that I can build into my EA?
I can see that my EA loses when it gets near a turning point or the outer edge of a channel that reverses. Everything within the channel usually closes at TP.
My system is working off of moving average crosses. The argument is made that 'you don't know' where it's going to reverse. Well I don't think we have to know exactly. If there is an indicator that knows approximately that should be good enough. It just has to indicate that the side of a channel is near and so don't take any positions that are going to go shooting off over the edge, only take long positions at this time if it's near support and only take short positions if it's near resistance.
I have looked at one support resistance indicator but I don't know that it would work because the lines it generates are so short term and they get blown thru all the time. I'm looking for something that will identify a support resistance line that has some strength and meaning to them
ok this one doesn't give me different slopes on each time frame. It depends on how far back I draw the lines as to what the slope is...
hum, that's three ways to do it now...
one that uses highest highs and lowest lows, one that slopes divergent ways and this one....I'm shy on the one what gives divergent slopes in each TF. If I'm making a filter from it I can't wrap my mind around the slope changing so volitily.