No. It’s a very flexible template.
You said it - you can play it across multiple timeframe & time horizon combinations dependent on your style, preference, trade objectives & market momentum behaviour.
What started out initially as a day trade can & will morph into a longer duration bet mainly because entries all sprout from a common structure (higher timeframe bias = lower timeframe trigger). If the volatility, momentum & market influencing factors marry up & extend prices well beyond their normal average daily range boundaries, that fortunate event will automatically offer you another trade management option, sometimes resulting in an unexpected yet impressive continuation move that you can roll over into several trading sessions.
The opposite is true of course for a contraction in momentum. You’ll experience plenty of occasions where the best laid plans simply wash out & evaporate when conditions & contradictory market influences render the price action impotent.
Price will barely drag itself up to even the 70% minimum cut off zone. If you manage to cover the spread & pay your commission fee during those frustrating events you’ll be dancing a jig.
Such is life.
Like I said above, the only thing that’s been affected on occasion is the propensity for price to cover the day’s range when it goes on a directional momentum jog.
Obviously when conflicting conditions are heightened, prices will become mired in sticky or choppy ranges & that will weigh on the ability for price to trade off the upper & lower range limits.
But if you’ve read the material - on this thread anyway - you’ll have come across the few references to marking off the 70% level. Carll computed the stats highlighting the percentage of times price covered ground up to that price zone & providing it doesn’t cost you too much in risk to place your trade, & you don’t get stopped out beforehand, the odds of reaching it are consistently high.
I certainly don’t. I doubt the others do either if I’ve read their comments correctly.
It’s maintained at a constant 3 month average (apparently another stat they’ve computed to maximum effect). The expansion/contraction periods get ironed out over a rolling period.
It’s only a gauge or guide to potential anyway. They’ve mentioned not to stress over it & I’ve personally found that to be the case.
Providing you’re facing the right way when you enter your bets by referencing the higher (primary) timeframe first before pulling the trigger off your lower (secondary) timeframe charts, then you’re stacking the odds as much in your favour as you can. And that’s all any of us can hope to achieve on a regular enough basis.