Disliked
{quote} oh i was away for homeworks and nice said and good analysis, could you please provide a script for levels or analysis though relevant for python.... Thanks as bunch in advance....
None script will tell you the righ entry, and when i talk about script i also can say about indicators, is how people use them and the understanding they do it it in relation about price. Is find an edge in it...
We start trading with mentality set and forget, but that is the wrong mentality, each pattern of price not ends there if it was so easy i was rich already...
If you want a script to plot possible levels there are a bunch on tradingview. As long it is related with OHLC those zones will not be far from strong areas.
It can be from prior candle, from average, from median or from ratios of manipulation and distribution. The principle is the same as fibonacci the diference is that fibonacci not measure the average but a fix ratios and to me is the flaw of it.
My principle is that a candle expansion is related with the prior in 1st place, particulary the bodies, is where it start my persuit in deviations, if narrow in the wicks, just by that you will have strong levels.
Each day have sessions and micro sessions as each candle have it. I didn't plot 5029.905/5006.580 with a script, is a pattern that happen every day.
I don't like to talk to much because we are in a forum that people make a lot of noise with news without them already come out, most of the members here know that for me is a bunch of algos leading price long term and if i hadn't identified a couple of repeatble patterns every day any level i have will not have meaning.
The one i use is from there but if i say it work on gold tomorrow it can disappear and be paid lol
You know from where now, make the homework not necessary if you find it you will have an edge if applied as it had been built.
I use as a mix of my concept that already worked for me.