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Finding the floor price

Discussion in 'Trading Strategies/Systems' started by Gringotts Bank, Nov 5, 2019.

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  1. Gringotts Bank

    Gringotts Bank

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    Interested to hear your approach to finding a bar whose lows are unlikely to be easily breached.

    My usual method is:

    1 - stopping volume
    2 - pin bar (ie. wide ranging bar with a close in top half of the range).

    Standard stuff.

    Can you share what you do to find a solid floor price?

    cheers.

    (tip: Constantinople in the 'Cup)
     
    barney likes this.
  2. Austwide

    Austwide

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    Still new to this so the floor may be a bit gerry built

    I look for reducing candle sizes as it falls, the last with a long bottom wick.
    Pretty much the same as GB's, reducing strength and a form pin bar.
     
    barney and Gringotts Bank like this.
  3. Trav.

    Trav.

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    I have been thinking about this thread for a while and would like to add some value but struggling to find any of any value to add so please bear with me as I attempt to stimulate some conversation.

    I am interested in this topic because I am trying to reduce my holding times by finding a better entry method, pretty simple really!

    I have been using the following basic pullback configuration in Amibroker for a long entry

    Long = IIf( Ref(H,-1)>H, IIf(Ref(H,-2) > Ref(H,-1), Ref(H,-3) > Ref(H,-2), Null ), Null) AND C > Ref(C,-1);

    and also playing with this code By: @travick https://forum.amibroker.com/t/coding-for-pivot-points/9079 which is good but holding times really haven't changed.

    This is something that I am not familiar with and have previously struggled to grasp the concepts off VSA and always interested in @barney 's chart markups as he tries to decipher what is happening.

    I grabbed some VSA code this morning and started to have a play with it as I think that it definitely would help with finding the floor (support) and turn around point.

    https://forum.amibroker.com/t/vsa-or-vpa-analysis/3794/14

    I will continue to do some research and hopefully others will decide to come out of the shadows and add some thoughts.

    @Gringotts Bank thanks for starting the thread mate :xyxthumbs as it has made me have a look at some other options in this area.

    Cheers
     
    Gringotts Bank, barney and rnr like this.
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