Deriving the time cycle is a very easy process.
It's quite simple: find a high to low, low to high or high to high, low to low cycle of a good quality stock and try to understand whether the same time period acts as a reversal point or not. Use the Cyclic Line tool in Tradingview. If it works, backtest your strategy.When you start doing this process, you will start seeing many behaviors of the chart and your job is to understand them.
One thing is certain that the area in which the time cycle candle is placed in the stock will reset that area repeatedly throughout the cycle period and that candle will definitely work as your support or resistance, keep this in mind that it has its own speciality.
If you apply this method and backtest it on at least 10 charts daily, you will become an expert in time cycle within a month .
No expert can be 100% perfect in this market. You can certainly find strategies or patterns, but you cannot guarantee that whatever strategy you choose will work 100% on every chart. It's a game of probability. But if you can understand this pattern, then you can make huge profits in a very short time/in a few days , you have understood this.
It's quite simple: find a high to low, low to high or high to high, low to low cycle of a good quality stock and try to understand whether the same time period acts as a reversal point or not. Use the Cyclic Line tool in Tradingview. If it works, backtest your strategy.When you start doing this process, you will start seeing many behaviors of the chart and your job is to understand them.
One thing is certain that the area in which the time cycle candle is placed in the stock will reset that area repeatedly throughout the cycle period and that candle will definitely work as your support or resistance, keep this in mind that it has its own speciality.
If you apply this method and backtest it on at least 10 charts daily, you will become an expert in time cycle within a month .
No expert can be 100% perfect in this market. You can certainly find strategies or patterns, but you cannot guarantee that whatever strategy you choose will work 100% on every chart. It's a game of probability. But if you can understand this pattern, then you can make huge profits in a very short time/in a few days , you have understood this.
Pernyataan Penyangkalan
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Pernyataan Penyangkalan
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.