My Unique trendline indicator shows how easy is the analysis of a given chart.
1. Analyze a Base Line dividing peaks and valleys. Price levels below this line are called Valleys.
2. Movement from low to high or high to low. This is the main point which has to be considered while making a decision. No long as a high is broken we should not be in long position and preferably become in short position.
3. Then stepwise movement with the help of trend lines. Now, this point is very important to be understood. Lower period trend lines have no relevance and can be broken with a small movement. We have to consider only long time period trend lines having touches at least 3 points and should not cut between price.
1. Analyze a Base Line dividing peaks and valleys. Price levels below this line are called Valleys.
2. Movement from low to high or high to low. This is the main point which has to be considered while making a decision. No long as a high is broken we should not be in long position and preferably become in short position.
3. Then stepwise movement with the help of trend lines. Now, this point is very important to be understood. Lower period trend lines have no relevance and can be broken with a small movement. We have to consider only long time period trend lines having touches at least 3 points and should not cut between price.
