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Shaun Downey

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They are one and the same thing. They are a proprietry study I developed that look at the strength and length of trend to create a skew so if the trend is down the pivots below will be wider apart than the ones above. They are formed once the bar opens so you have a fixed reference for the day. For the reports I reference the daily levels, but have built them for all timeframes for use in algorithmic execution as well as tehnical analysis based trades. There are a variety of patterns and relationships that they can be used for, but one of the main ones is the connection with extremes of range for the day, and then connecting that with the extreme of range for the time of day for a specific timeframe chart eg 30 minutes. This uses another study called Volatility Time Bands. My book Trading Time http://www.trading-time.com goes into great detail about these and other studies I have built and how this can be connected with Market Profile. The studies themselves are availible on the Cqg platform http://www.cqg.com. I'll post some more videos over the next few weeks that show some connections.

 

Shaun

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