Tuesday 10 August 2010

Gold

Remarkably these RL's and subsequent reaction/warning line 'web' (seen on the charts to the left) all emanate form forks/ML sets that finished in the middle of May...well over three months ago and well over 100 RL's & warning lines ago but yet they still effect price to a staggering degree. What also is unusual to see is that with the angle of these reaction lines sloping downwards towards price you can see price fall to varying degrees at nearly every RL (best seen in 15 min chart) it encounters. Different angled RL's can tilt price upwards.....the angle is very important in its effect on price behavior.
One point to note is that in any time above 60 mins the clarity and accuracy of the lines is decreased due to the dynamics of the candles and screen resolution which decreases as the TF increases and obviously increases as the time frame gets smaller UP TO about the 1 min TF
where it all starts to get a bit skewed.























I am looking for a competent programmer with MQ4 Metaquotes experience (and/or with Ensign Windows/E-signal programming skills) to develop a new custom indicator to remedy these problems.

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