I think it’s the exact opposite. If price touches the line two or more times then it makes a better scalp line.
When price finally does break though it has a better than normal chance of hitting the 50 pip TP.
Indicators can help you see what price is doing.
Ya, I’ve got that TRO, indicator. (dynamic fibs) It’s pretty much worthless, as just like all other indicators it lags after what price actually tells you.
Please don’t dirty up a good thread with that crud.
I don’t see anything a horizontal line doesn’t tell me 10x faster…
I agree, please keep the junk, excuse me, indicators off this thread.
What price is doing doesn’t really matter to this system. It’s based on small bursts of momentum when price breaks a previous swing high or swing low. Where price is going in the long term isn’t an issue.
Since you didn’t really say anything constructive I get the feeling your posting this just to get back at me for “trespassing,” as you call it, in the TRO horizontal line thread.
I notice you’ve also changed your avatar to a “no trespassing” sign and you’ve been posting rude messages on the visitor messages section of my profile.
If you have comments on the scalp line system you’re more than welcome here. The TRO horizontal line system and this one share similarities, so perhaps you can offer something of value??
I was wondering if I could program an indicator to draw lines based on NickB’s rules?
thinking in programming terms:
- gather all the highs and lows into an array
- find the values (high and lows) of those which are less than 5 pips away to be a line
- since we are looking to trade breakouts, so we must look at a bounce - remove high if next is high is higher
- if the difference between each high is less than 16 hours away, remove it…
Am I missing any more rules?
wait a min, has someone written an indicator based on NickB’s rules?
The whole methodology behind this system is that it encourages you to think for yourself and not blindly follow an indicators ‘signal’. You weigh up the pros and cons of each line and trade or don’t trade accordingly. It’s about learning how and why the market works, not following a blind signal.
I don’t really see the need for an indicator. Placing a line on a chart is just too easy to do yourself. 
But if you want to make one then go for it! You did an excellent job on the Sunday breakout indicator.
You’ll need a way to tell the difference between lines with good trends up to and away from them vs. price spikes. I’m not sure how to do that…
I don’t think so. It might raise the probability of a fakeout a little, but not enough to make a major difference. I’ve never noticed lines with multiple bounces to be more likely to lose.
Plus if you did get a fakeout you could always trade the reversal and get your money back.
All these master candle, and candle must bounced away for 20 hours or 5 candles away before it’s a line rule and all sorts of stuffs is a bit hard to detect unless you have time to sit there…opps!! we are looking at a H4 chart!! not 1 or 5 min chart!! ok…hmmmmm
Another advantage for me to write a program on it is, if I were write it, I will know the system in and out - user feedback, if I were to trade it, I will know my mistakes when it’s a bad trade or someone said that they didn’t use it, haha!
what do u mean by price spikes? I might have a different opinion on price spike. Do you mean affected by the news?
in terms of how the program can know is that there is a substantial difference between the high or low against the open or close. Please define your meaning so that I see if I can program it.
Yeah, a news spike is what I’m talking about. You will have to program a way to make sure they are not counted as highs and lows.
news spike is different from price spike, or is it? A spike can be noted by a substantial difference between the high or low against the open or close.
News spike = program need to find time of news and compare it?
btw, how do u know if it’s a news spike? Do you go to forex factory to check if there actually was a news? Or else maybe I will “ignore” the spike, if spike is “too much” higher than the close of the candle? hmmmm,
You’re right, a price spike doesn’t have to be a news spike. I should have said price spike, but either way it’s the same result.
The next question is how your indicator is going to define a “substantial difference.” 
To each his own, but I think you are trying to take the work out of it with an indicator or either trying to invent a better mousetrap? Honestly I don’t see the point this method is so simple, why ruin it with complication and extra variables that will inevitably muck it up. I think if you are interested in this method, and trading, you spend your time trading it instead of wasting it on programming idicators.
The scalps are so easy to spot, with a little practice. Do you really need an indicator? Or, are you so afraid of putting an entry in that you want some indicator or robot to tell you when to enter the trade instead of trusting your self? Because that is the big mistake many noobs make right before they start losing.
You are sadly mistaken. TRO_Dynamic_Fibs_SR does not lag nor does it repaint. It shows you support and resistance in real time. We all know you don’t like TRO’s “attitude” but do not mislead others.
The chart shows the indicator puts dots at support and resistance for each candle. There is no lag. When support or resistance broken, trade the breakout. If a new support or resistance is not broken, trade the retracement.
I challenge you to show me one example where TRO_Dynamic_Fibs_SR is not accurate.
To each his own, but I think you are trying to take the work out of it with an indicator or either trying to invent a better mousetrap? Honestly I don’t see the point this method is so simple, why ruin it with complication and extra variables that will inevitably muck it up. I think if you are interested in this method, and trading, you spend your time trading it instead of wasting it on programming idicators.
The scalps are so easy to spot, with a little practice. Do you really need an indicator? Or, are you so afraid of putting an entry in that you want some indicator or robot to tell you when to enter the trade instead of trusting your self? Because that is the big mistake many noobs make right before they start losing.
I think you are being unfair.
Do you like to fish? Some people swear by it. this is the only way they relax.
I hate fishing it is a flipping waste of time for me. Id rather buy the darn thing and spend my time being productive.
Do you see the point??
the NEWB mistake is for you to think your way fo thinking is the only way to think. cmon man everybody is different and therefore will asimi9late information diffently.
Me Im a reader, an avid one at that. if you tell me something it can be in one ear and out the other, but if i read it i remeber for life.
some people are right brained some are left.
bottom line maybe he will assimilate the info better by taking the time to try and program it. He is not wrong and besides nick would say use your brain yes but he would also be the first one to say make it your own.
let him make it his own…
TRO_WSOWROTL plots the swing lines and TRO_NB_SR_HiLo_Gauge shows how many times a price has been a high or low in the last 240 bars. You can change the number of bars to check. It acts like a early warning for possibly support and resistance. TRO built it for the “no brainer” trades but it comes in handy no matter what system you use.
You are sadly mistaken. TRO_Dynamic_Fibs_SR does not lag nor does it repaint. It shows you support and resistance in real time. We all know you don’t like TRO’s “attitude” but do not mislead others.
The chart shows the indicator puts dots at support and resistance for each candle. There is no lag. When support or resistance broken, trade the breakout. If a new support or resistance is not broken, trade the retracement.
I challenge you to show me one example where TRO_Dynamic_Fibs_SR is not accurate.
hey todd can you please not post the large charts full of indicators here, you know you are adding fuel to a fire. I personally like averys indicators and that one there is simply a variation of barrys s/r i have that one too. point is this is the nickb thread and it doesnt even utilize s/r it uses scalp lines. i got an idea have tro program an indicator for this system which i am certain he can do in no time flat. this way you are sticking to the theme and avery can strut his stuff btw ask any questions about the trading method here if you like.
I know you and phil don’t see eye to eye but i can say phil is a good person and maybe a bit protective but we need to be adult here and act like gentlemen.
seriously please…
Horse and buggy [no indicators] or jet aircraft [indicators]?
Ax[no indicators] or chain saw [indicators]?
Shovel[no indicators] or Hydraulic Excavators[indicators]?
You do not have to blindly follow any indicator. Why are you using a computer with charts when you can read the tape? I agree there are many worthless, lagging indicators but there are a few indicators that make trading easier. TRO’s candle color multimeter is a prime example. You don’t have to have 9 charts open and look at them to know what color the candles are. One simple display shows you.
No indicators or indicators? It is the 21st century and you are on the internet. Not using any indicators “just because it’s an indicator” is ridiculous. What a silly debate.