[Tradewinds]

Originally Posted by Dutchie »

DeMark trendlines AND their qualifiers are NOT subjective if one can read: "If any of the four qualifiers are true, the trendline break is valid" which leave all your other remarks pointless.....

I wasn't stating that DeMark trendlines are subjective. The bullet points were taken directly from the PDF file. The PDF file stated that a problem with many trendlines is that they are subjective. That statement was made to contrast the objectively of the DeMark trendlines. Again, what I wrote was just a rewording of what is stated in the PDF file. I wasn't criticizing the DeMark method of trendlines.

[pitrader]

I studied Drummond Geometry for a couple of years and his method of drawing lines is different from the mainstream. His approach draws lines using only 2 bars in order to forecast S/R for the 3rd bar. I found some other combinations in my own work that I also included in an indicator. Unlike anything that is out there my indicator prints a # above and below the bar showing how many tics the high or low is from the termination point of the TL for the current bar. If you are using your method on a 5min chart and you want confirmation that you have hit a S/R level you can apply my indicator to a higher timeframe like a 30min to see how many tics you are from a current TL. The amount of tics away from a TL that would be a heads up will vary from market to market. I have only ever traded the Russell so all I can attest to would be that anything 5 and under would be a warning that a turn is evident. I have included an Eld file (I hope I did it right ) for the indicator.You guys can have it for free.

[TimRacette]

One confirmation that you could use to get into the trend is say we're at support. Whichever time frame you are using, wait for a break of the high of the low bar before entering long. The same holds true for shorts, wait for a break of the low of the high bar.

So if the ES is in a downtrend and rallies off lows, you can just wait for a break below the low of the highest bar on the way up. This also allows for a definitive stop to be placed above the high of that high bar.

Just my two cents on a little added entry signal.