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50% Balance Point Rule
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Created: by perryg Attachments:31

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50% Balance Point Rule

  #51 (permalink)
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Yeah I used that attachment as a reference, so I am right then?

He shows for today 4/20 it would be the 4/16 high and the 4/19 low, divided by two, yes?

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  #52 (permalink)
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Or are you saying it requires 3 days of lookback and uses each day? Like I take the balance point from day 3, add that to day 2, add that to day 1, and average them together to get day 0 (today) balance point?

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  #53 (permalink)
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hm... I may have overthinking this thing, wiil see what he has to say.

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  #54 (permalink)
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cory View Post
hm... I may have overthinking this thing, wiil see what he has to say.

Sounds like a plan



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  #55 (permalink)
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Quoting 
Yeah I used that attachment as a reference, so I am right then?

He shows for today 4/20 it would be the 4/16 high and the 4/19 low, divided by two, yes?

Mike


Mike,

You are correct. That is the right way to calculate. IT is as simple as that. From the current day you take the previous 2 days High and Low and divide by 2, that will be TODAYS current trading value. Tomorrows 50% point will be TODAYS and YESTERDAYS Highest High + their Lowest Low divided by 2.

You do not aggregate 2 days with 3 days etc. Each new trading day has its 50% point calculated from the previous 2 days highs and lows.

The ideas is to leave 2 -4 previous 50% Balance points on the chart is that these lines can be REVISITED thus giving you S/R lines to trade off. As you advance from day to day you can just drop off the 3rd or 4th previous lines to be replaced with a new one.

I hope this clarifies the idea. Take a look at post #12 https://futures.io/34725-post12.html

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  #56 (permalink)
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cory View Post
I don't have good clean data there are many holes in them, but anyway here is the latest as you can see select 3 days back and it will calculate just day 3 + day 4 back

Cory,
Have rechecked this version and again my simple calculations differ from your indicator.

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  #57 (permalink)
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Attached chart of 6B is from today 21th April, show 3 lines going back 3 consecutive days. We now see that today trading is heading up to the 50% Balance Point that was 3 days ago.

I imagine we will hit it, and if so there could be a nice trade to the downside. Lets watch and see.

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50% Balance Point Rule-50-balance-point-6b-today.png  
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  #58 (permalink)
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Ok folks, as predicted we got a massive sell off on 6B (see post 57), 6 pips below the 50% Balance point and also a double top from the previous high that also made a big move down after almost hitting the 50% point.

Attached Thumbnails
50% Balance Point Rule-50-balance-point-6b-today-1.png  
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  #59 (permalink)
Market Wizard
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perryg View Post
Attached chart of 6B is from today 21th April, show 3 lines going back 3 consecutive days. We now see that today trading is heading up to the 50% Balance Point that was 3 days ago.

I imagine we will hit it, and if so there could be a nice trade to the downside. Lets watch and see.

since my data includes day 18, my day 4 matches your day 3 and day 1 is def a match

Attached Thumbnails
50% Balance Point Rule-d1.jpg   50% Balance Point Rule-d4.jpg  
Attached Files
Register to download File Type: cs BalanceLine.cs (13.2 KB, 30 views)
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  #60 (permalink)
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cory View Post
since my data includes day 18, my day 4 matches your day 3 and day 1 is def a match

I tried putting the latest version on the same chart as yours, and I do not get any lines. I tried other charts and still no lines.

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