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The other thing I’m wondering about is support and resistance. Hand drawing the lines is a pain but seems particularly good for the longer tfs. I have explored the use of numerous s/r indicators, but none really fit the bill. Any ideas? |
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Have not got into s/r yet.
One by Coders Guru
http://www.xpworx.com/ZigZag_Channels.htm
Still looking at the rest...
My own approach is that bid and ask volumes can be monitored separately and can be added for average volume or compared for strength comparisons.
Differences in bid and ask volumes come thru as margin spread, something which I see happening most often in EURJPY but also in GBPUSD and in both cases that spread comes thru magnified in GBPJPY. That aspect is one of my current interests as it may signal which way the price will break.