"Millionaire in 10 weeks" thread

[Merlin]

I meant instruments... We commonly name those as values in Poland, sorry

Yeah indicators usually fit all the trading instrument you can put on a chart.

[Merlin]

Btw guys, here's what happened TODAY...

I have programmed green and magenta dots when I would see a Double Bottom/Top formation and I caught one at 10:09 at 1,481 and 7 minutes later, it reached over 1,486 to make a nice 5 pts, doubling our invesment.

This is getting interesting.

[wojt864]

I have no idea what's going on but it's going up, so that's good I guess

[Merlin]

I have no idea what's going on but it's going up, so that's good I guess

yeah...

Basically, I created an indicator that you can put on a stock chart and it shows lines of different colors. Blue tells you that the price goes down and white for up.

Then in the green rectangles, you got places to enter the trade..

Can you see that?

[wojt864]

yup, I can see that.

[Merlin]

yup, I can see that.

Good and this is the screenshot of what's going on today (around noon Est.)

You can see right there that the lines were white right from the start. You will see little white and blue bars (these are PRICE BARS of that stock going up in white and down in blue).

However, look at the green rectangle below the darker cloud, do you see that those price bars dipped below that gray line?

That would have been a perfect entry price to enter the trade.

You probably have heard somewhere "Buy LOW....Sell HIGH". Well my indicator shows when the price drops VERY LOW.

Follow me so far?

[wojt864]

Yes. I think so. One question. I assume that all this graph is created in real time on your monitor screen, so when your white line go under the big gray line, how do you know it won't go down even more?

[Merlin]

Yes. I think so. One question. I assume that all this graph is created in real time on your monitor screen, so when your white line go under the big gray line, how do you know it won't go down even more?

Very good timing my friend because this morning I may have found the solution for this...

Let's zoom in on that dip made at 9:52...

A reversal point is when a blue bar (down) is followed by a white bar (up) but as you can see below, many of those blue/white bar setup were made (red circles) as the price continued to go down but by adding another line that goes red on the way down and green on the way up, there was only one point on that dip where this occurred and that's very near the bottom of that dip (green circle).

Still follow me?

[wojt864]

Got it. Question. These red and green lines were added inside the program, right? Not on the screen shot.

[Merlin]

Got it. Question. These red and green lines were added inside the program, right?

Right.

I will add them all into ONE INDICATOR called, yup you guessed it... The Merlin Indicator.

I will finish programming it and send you all the code so that you can see those lines on your charts. It should also be robotized too so that you don't get to enter or exit, the program will do it for you.