Silly question but why are you drawing a one box reversal chart this way - my understanding was that a single O or X in a new column followed by a reversal would be drawn in the same column, not a new one.
Absolutely Correct.. I will be putting up some more charts on this with some explanation .
This is a full Course of sale chart. I am using an EOD Excel sheet that is designed to draw Three Box Reversal Charts using HiLo Method. I am using it to draw a one box reversal full course of sale chart, Hence the incorrect drawing of the Wyckoff One Box reversal chart.
The correct drawing Rule should be. Only change column When you would draw over an existing entry.
The incorrect rule is change column every time the price direction changes ( as this and most Hi Lo programs use ).
Silly question but why are you drawing a one box reversal chart this way - my understanding was that a single O or X in a new column followed by a reversal would be drawn in the same column, not a new one.
ReplyDeleteGood Question !
ReplyDeleteAbsolutely Correct..
I will be putting up some more charts on this with some explanation .
This is a full Course of sale chart. I am using an EOD Excel sheet that is designed to draw Three Box Reversal Charts using HiLo Method. I am using it to draw a one box reversal full course of sale chart, Hence the incorrect drawing of the Wyckoff One Box reversal chart.
The correct drawing Rule should be. Only change column When you would draw over an existing entry.
The incorrect rule is change column every time the price direction changes ( as this and most Hi Lo programs use ).
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