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Joined: Tuesday, April 3, 2012
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Topic: Pcf for double top double bottom
Posted: Tuesday, April 3, 2012 3:07:23 PM

How would I scan for double tops or double bottoms on Forex 15 min charts? Would it be any different on 1 hr, 4 hr or daily charts?

 

To be able to make the PCF, at least 3 things must be defined.  The first is what is the difference in price that should be allowed between the 2 bottoms/tops to define an equivalent price because usually prices don't match identically.  UP TO 10 PIPS

 

The second is how much time are you going to search (ie the number of bars between the bottom/tops).  I AM INTERESTED IN INTRADAY ON A 15 Min. CHART AS WELL AS MULTI DAY

And a third is how far back the first bottom/top occurred.  This assumes that the bottom/top is not today since, by definition, if it is today, you can't say this is the bottom or top since the trend has not reversed yet. I AM INTERESTED IN INTRADAY ON A 15 Min. CHART AS WELL AS MULTI DAY