Description

RULE-100
The "Rule-100" assumes that in forex trading the prices which ends with 20, 50, 80 and 100 are very relevant and that there is a tendency that a course which runs 20 pips at a 100 level, reaches this 100 level or possibly overshoots it and reaches the next level and then possibly runs back to the 100 level.
The relevant price levels are therefore:
- 20
- 50
- 80
- 100
Function: PL_RULE-100
The "PL_RULE100" function is a tool to draw the above pricelines into the charts amd saves you a lot of work.
Detail
PL_RULE-100
The "PL_RULE-100" function draws the price lines according to the RULE-100 in the charts.
Essentially the "Rule-100" is related to the "Quarter-Theory" (see also function "PL_TQT"), especially to the "Small Quarters".
It is, however, more fine-grained and also takes into account stop hunting on round price levels.
Special Features
- the quotation of the instrument (for example 1:1 or 1:100 in currencies) is considered
- the pricelevels will be automatically adjusted and drawn
- with one keystroke you can show and hide the lines
- the lines are hidden automatically on higher timeframes
Example
For currency pairs with 1:1 quotation such as EUR/USD, USD/CHF, GBP/USD, etc, the lines are drawn at #,0020, #,0050, #,0080 und #,0100.
For currency pairs with 1:100 quotation such as USC/JPY, EUR/JPY, GPB/JPY, etc, the lines are drawn at #,20, #,50, #,80 und #,1.
Usage
With the "PL_RULE-100" function you can:
- show and hide the preislevels in the charts
- visually test the theory easily and quickls
- use the lines for your trading and develop trading ideas
Availability
The "PL_RULE-100" function ist part of TT4Y_fxLevelLines, which are offered as a subscription (product/functions with dataservice).
Image
An Example:
- Example: EURUSD 30min
Gallery
More Examples:
- with different instruments and different chart settings
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http://tradingtools4you.com/en/menue-items-public/191-function-pl-rule-100.html#sigProGalleria3231fa9430
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