Mistakes have been made.
This reading suffered some curve fitting. I reached into the code to give further discount on the stochastic from 82 to 80, which was a mistake. Reverted it.
Some additional curve fitting was done by implementing the 9-count green with candle clearing the BB by 20 pips and closing back below it. I have to always go back in history to see if this change would throw something else off. I’m glad to say the gray/white block are performing very well for calling the important levels. Volume still shows amateur levels (yellow shading) with the exception of yesterday. It is good to see that the RSI2 is printing in the reversal zone today.
///fizzle out after 9 days in green closing below the BB by 20 pips if (cap[i+8]>0 && cap[i+7]>0 && cap[i+6]>0 && cap[i+5]>0 && cap[i+4]>0 && cap[i+3]>0 && cap[i+2]>0 && cap[i+1]>0 && cap[i+9]>0 && High[i]>iBands(symbol,0,20,2,0,PRICE_CLOSE,MODE_UPPER,i)+200*Point && Close[i]<iBands(symbol,0,20,2,0,PRICE_CLOSE,MODE_UPPER,i)) cap[i]=-1;
The 20-pips becomes key again when we need to figure where the just printed head would get voided.
So price made it to 260.
After the Head print there was the move to neutralization, back to the 50-line.
If you think back to the wheel, the neutral level is 50, to the left is the negative field, to the right is the positive. Now, if you put 260 to the current NIL++ mark on the right, then 150 would be neutral, and coming back below it would be neutralization. Price came back to 40 (140) approximately and we are in a swing back up to 100 (200). Rather appealing sequence for a left shoulder and a head.