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Here's another way I try to predict chop using the same 20, 50, 200 EMA's. When price starts trading between the 50EMA and the 200EMA while these are converging towards each other in a wedge, once price starts trading inside that 50/200 EMA wedge, most likely it's gonna bounce for a while inside that wedge. I generally stay out, and wait for a break either way. Here's an example that just happened a few minutes ago. 200EMA is thick brown, 50EMA is black.
Monpere - I noticed in your screenshot above you are using custom bars called "JPMrenko". Can you tell me where I can find the code, or can you send it to me? I searched the site and couldn't find anything.
There is one japanese indicator which shows you chop chop:
It is the Ichimoku "Cloud".
Like a pilot's adventure when flying "at sight" -
you are flying into a cloud..
as long as you are flying without sight you are not aware of any
direction - maybe you get out above? or you are getting
out underneath the cloud - you are totally unaware of
any sure movement you are thinking of or feeling.
So - to make it short - to avoid chop chop in any chart -
avoid to take a trade when price is within a daily or a
60min cloud.. that taken prevents your capital!
For sure.
TMNT, where can I find the the custom OOD, HOD, LOD displayed in the taskbar for Ninja? I've searched the forum but can't seem to find it. Is it available to the public?
