One of my favourite tool to see fast trends which is simple but powerful. It runs under below market logic.
Function
Best cose line is a tool to model the people's mood and preference in the market. I define a typical price as wcx, when wcx is above the best cost line, which means traders are willing to use higher price to buy, then if you long, you are following the trend and make profit. On the other hand, if wcx is below the best cost line, which means traders are NOT willing to pursue higher price (maybe due to continous stop loss or sth other), then you should at least not long or if you are agressive in style, you may consider short. That is it. Do you think it is simple and powerful enough?
@hedan1, yes, this is more senstive than supertrend
RonLeigh
⋅
有意思 从公众号过来的
iamreversalman
⋅
can you add a multi time frame functionality? For example, plot a 15 min best cost line on a 5 min resolution. Basically a time greater than the current chart resolution