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Hi Michael,
I am writing an algorithm to run autonomously. I want to use the 2-minute time frame to make the travel smoother to follow. Below are my questions on 2 issues I would really love your suggestions. I have read your Trend Commandments and The Rule by Hite. I have enjoyed reading both of them.
Question 1: Who would be the best person that could train me in using Bayes’ Theorem?
Question 2: Example: when following a strong trend, what is the best way to handle a possible directional change?
- Wait for 3 price bars to form, i.e., test, test, and retest, then jump in? Example: price bars with higher lows and higher highs, then jump in on the uptrend?
- Moving average lines, i.e., 19-day, 50-day, 200-day.
- RSI, Relative Strength Index over 70 and/or under 30. This would not catch the in-between 30 and 70 numbers.
- MACD Lines with Graphs.
- Use the 15-second and 30-second price bar development time frames to get the indication?
- Use the Level 2 on Think-or-Swim? Buyers versus sellers?
- What are the best OBSERVABLE FACTS that could be used to move on a change in the direction of the price bars, i.e., trend change?
Thank you very much,
K. H.
This is not trend following. I would not recommend your outline. Run from a 2-minute time frame.
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