Breakout

amitrandive

amitrandive

Well-Known Member
#22
#22
Shantala said:
Amitrandive,

Red box is trading range.

Breakout is from trading range.

Trendlines and other things are irrelevant. All are 5 minute charts.

Concept:
1) Find the trading range.
2) Find breakout from the trading range.
3) Long Al Brooks H2/H1 or short L2/L1.

BankIndia H2 long.

TataSteel
First trade H1 long, exact TSL hit
Second trade H2 long
Click to expand...
Shantala

Thanks for the explanation.Can you please provide a link for short explanation for H1 and H2 long,L1 and L2 short?
Tried to read Al Brooks book, seems to complicated to me.:eek:
 
Shantala

Shantala

Well-Known Member
#24
#24
amitrandive said:
Shantala

Thanks for the explanation.Can you please provide a link for short explanation for H1 and H2 long,L1 and L2 short?
Tried to read Al Brooks book, seems to complicated to me.:eek:
Click to expand...
H1 – First pullback in an uptrend, above 1st bar that has a high above previous high.
H2 – Second time a High above previous bar in that same pullback

L1 - First pullback in a downtrend, below 1st bar that has a low below previous low.
L2 – Second time a Low below previous bar in that same pullback

Putting chart with examples.
 
amitrandive

amitrandive

Well-Known Member
#26
#26
Shantala said:


For more details, please read "Bar Counting Basics: High1, High2, Low1, Low2" in Al Brooks' books (repeated in all 3 books).
Click to expand...
Shantala

Thanks for the explanation!!!

Just another doubt,Can you please explain the concept for the red rectangle?
How many candles or price percentage?
 
Last edited:
Shantala

Shantala

Well-Known Member
#28
#28
@amitrandive

Red rectangle is a trading range. There is no candle limit or percentage limit. It is just any range (large or small) in which price breaks sequence of HH/HL or LL/LH.

There is no particular AFL. Whatever plotted on the chart is clearly mentioned in the title of chart. You can download it from net.
 
amitrandive

amitrandive

Well-Known Member
#29
#29
Shantala said:
@amitrandive

Red rectangle is a trading range. There is no candle limit or percentage limit. It is just any range (large or small) in which price breaks sequence of HH/HL or LL/LH.

There is no particular AFL. Whatever plotted on the chart is clearly mentioned in the title of chart. You can download it from net.
Click to expand...
Shantala

Thanks for reply!!
I think only indicator missing is KAMA.Rest all is available or can be coded.
 
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