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Is there any indicator that can help my strategy avoid taking trade if price is too congested, ie pass 3-5 bars? I know there is the congestion box, but not really sure how to input it into my unlock code.
also, if anyone here has the TDU price action indicator and have a strategy for it, I would love to share my strategy and learn from yours.
Can you help answer these questions from other members on NexusFi?
maybe something like the Dynamic SR Zones...here is an example set to 6....looking back at 6 bars on the NQ....inside the zone no trade...can choose a breakout or a breakdown or both
I have TDU price action and made multiple strategies but they eventually all fail.....issue is that this is a price action indicator and you can't just take any trade....you have to understand and read price action and indicator is just to keep you aware that 2 leg is coming up.....it all look perfect but actually is not.....i honestly gave up on this as you need to put so many rules that eventually my strategy didn't take any trades.....Good luck thou.
Yes, of course, there's a big difference between finding a measure
of "congestion" or "narrow range"; which is easy....
...and ensuring that Trade direction (preceded by this measurement)
incorporating this measurement, and others, will result in success.
These are very different requirements. I always say that "Price describes
Price; but does not Predict Price." A predictor using something other
than Price, for example Volume accumulation/distribution, etc will
be required in order to distinguish between 1) Breakouts which will
fail, and 2) Breakouts which may succeed...
But I hope you already do know that...
The measurements are nearly always "easy"; but ultimately your
goal is to have a high proportion of successful trades, and
that is NOT at all an easy Prediction to make.
I agree it is hard to predict what future price action will bring...thou you talk about measured move but this indicator is not measured move indicator....it is a second leg indicator....following MAC teaching but it has also Al Brooks second leg counting also included so you can choose which one you would like to trade.....
What is also included is a strategy programmed for indicator and you can download from developer site but it is a only programmed exit strategy and account sizing so it is open for further development to put filters and rules.....thou bi inspecting it i see some errors that i belive are there comparing to older versions of published strategy by same developer.....i marked those in there DISCORD channel but nobody reply to my finding so i guess thread is not active anymore....
Either way what i am trying to say programming price action strategy is probably extremely hard as you trying to look back on chart and predict what will price doo.....it is easy when you are simply looking at chart and zoom out and see double bottom and double top or chanel brake ....and so on.....
As im looking in to other options and learning more i see that more simple and robust strategies are more effective than complicated super awesome strategy that works perfect on back test and fail on live market.....i read a lot and watched some of seminars and youtube videos from Kevin Davey that i found here on futures.io He is really making sense.....he is thou programming in tradestation but all can be applied to NT8....
Maybe a simple Bollinger Band could be a starting point to fine tune from.... nothing special about whatever the default BB settings are of the one you have, just tweak til you find a better probability of congestion within a band a/o probability of swings making a HH beyond the band, after a first HL above or first bar closing beyond, etc... Whether BB or another oscillator, just the idea of making it your own to fit your own risk tolerance
