Best way of day trading - 2652 theory of trading

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While I was going thro' this thread, I thought of sharing with you the TJ's levels in Advanced Get. These levels are, a certain % of prev. day's range above & below prev. day's close. The percentages are, 7.3%, 30.9%, 54.5%, 69.1% & 92.7%, and, these are 'Reduced' levels. There are Normal and Extended also. I am giving Metastock formula for plotting the daily levels on an intraday chart. I am also attaching screenshot of these levels plotted on Nifty Futures.

Code :
{CPATJsLevelsReduced}
PH:=ValueWhen(1,
(DayOfMonth() <> Ref(DayOfMonth() ,1)),
HighestSince(1,DayOfMonth() <> Ref(DayOfMonth() ,-1) ,H )) ;

PL:=ValueWhen(1,
(DayOfMonth() <> Ref(DayOfMonth() ,1)),
LowestSince(1,DayOfMonth() <> Ref(DayOfMonth() ,-1) ,L )) ;

PC:=ValueWhen(1,
(DayOfMonth() <> Ref(DayOfMonth() ,1)), C);

PR:= PH - PL;

RD:= PC + 0.927*PR;
RC:= PC + 0.691*PR;
RB:= PC + 0.545*PR;
RA:= PC + 0.309*PR;

NU:= PC + 0.073*PR;
ND:= PC - 0.073*PR;

SA:= PC - 0.309*PR;
SB:= PC - 0.545*PR;
SC:= PC - 0.691*PR;
SD:= PC - 0.927*PR;

RD;
RC;
RB;
RA;

NU;
ND;

SA;
SB;
SC;
SD;
{Code ends here}

On the look of this, there are many pts where NF just touched these levels, and, could be used of trading. Will this be of any help? Maybe, someone can figure out a system based on this.
 
Last edited:
U

uasish

Guest
While I was going thro' this thread, I thought of sharing with you the TJ's levels in Advanced Get. These levels are, a certain % of prev. day's range above & below prev. day's close. The percentages are, 7.3%, 30.9%, 54.5%, 69.1% & 92.7%, and, these are 'Reduced' levels. There are Normal and Extended also. I am giving Metastock formula for plotting the daily levels on an intraday chart. I am also attaching screenshot of these levels plotted on Nifty Futures.

Code :
{CPATJsLevelsReduced}
PH:=ValueWhen(1,
(DayOfMonth() <> Ref(DayOfMonth() ,1)),
HighestSince(1,DayOfMonth() <> Ref(DayOfMonth() ,-1) ,H )) ;

PL:=ValueWhen(1,
(DayOfMonth() <> Ref(DayOfMonth() ,1)),
LowestSince(1,DayOfMonth() <> Ref(DayOfMonth() ,-1) ,L )) ;

PC:=ValueWhen(1,
(DayOfMonth() <> Ref(DayOfMonth() ,1)), C);

PR:= PH - PL;

RD:= PC + 0.927*PR;
RC:= PC + 0.691*PR;
RB:= PC + 0.545*PR;
RA:= PC + 0.309*PR;

NU:= PC + 0.073*PR;
ND:= PC - 0.073*PR;

SA:= PC - 0.309*PR;
SB:= PC - 0.545*PR;
SC:= PC - 0.691*PR;
SD:= PC - 0.927*PR;

RD;
RC;
RB;
RA;

NU;
ND;

SA;
SB;
SC;
SD;
{Code ends here}

On the look of this, there are many pts where NF just touched these levels, and, could be used of trading. Will this be of any help? Maybe, someone can figure out a system based on this.
Thks .This is 1 of famous Tom Joshep's Prorietory stuff,he even came to India 5 yrs back to conduct a 2 day seminar at Chennai for Rs35k entrance fee.
 
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