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The following 2 users say Thank You to Big Mike for this post:
Having studied the charts (4 Range No Gap) with only Perry's method, a way to cut down on trades would be to take only the first 2 signals that occur after the 5EMA crosses the 20EMA. If the market continues to run then a third trade can be placed only after price retraces and touches the 20EMA. Take the next Perry setup after that occurs. Maximum 3 trades in a long run up or down.
A further filter would be to trade only in the direction of the 8 Range No Gap.
Thanks to Perry for his generosity and willingness to do a webinar.
I'm trying new some stuff with momentum bars and Perry's setup and thought I'd share my first impressions.
The pic is a comparison between regular range bars and momentum bars and besides having a 'cleaner' look, they also give cleaner signals at turnings points where the 4Range chart didn't. Momentum(2) is the equivalent of a Range(4) chart.
Again, this are my first impressions and I still have to test it more thoroughly.
Has anyone tried these momentum bars with Perry's method?
The following user says Thank You to Braulio for this post: