Thanks SG! After putting your same macd with your paramers below my three existing macd pincher windows, I can see where it's a necessity to have it there to help guage whether indeed the pinch is really ready to turn the price around.
Unfortunately I also noticed that just because you have a good pinch that's been going on a while, staying tight as the price moves, and then get a crossover of the fast and slow lines, the price still may not quite be ready to turn.
Fortunately however, it looks as if you can save yourself losses or giving up profits if you observe the change of the trend bias. The crossing of a candle over an established trendline can give a final signal of reversal while you've either been riding profits on the existing trend or waiting for a place to consider entering for a trend reversal.
The problem still remains during those shallow channels of price movement that seem to last forever while the price actually can move against you a fair amount over time yet make scalping very difficult; at least on the 5 minute chart. lol
So, it still seems that drawing lines off candle tops and bottoms to establish channels with their levels of support/resistance along with some good old wave counting is a must. As are drawing uptrending and downtrending trendlines for monitoring trend bias.
Alas, still missing the "final link". Missing that one magic indicator with which you can just turn it on auto-trade and turn the computer off as you wait for your millions to show up in your account. lol
AI
