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Tue,19Nov2019

PL_RULE-100

Description

EURUSD weekly 001

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

EURUSD 30min 001

Portfolio ... Subscriptions ...

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