Single Prints

Diamonds are the trader’s best friends.

I like these visuals. Imagine staring at a cell phone screen, trying to determine how many times RSI2 printed below 7.5.

 ////diamond up 
 if (RSI2[i]>92.5){  
               ObjectCreate("Darchellen"+DoubleToStr(i), OBJ_TEXT, 1, Time[i], 86);
               ObjectSetText("Darchellen"+DoubleToStr(i), CharToStr(117), 21, "Wingdings", clrDimGray);
            if (RSI2[i]>98) {ObjectSetText("Darchellen"+DoubleToStr(i), CharToStr(117), 21, "Wingdings", clrPurple);
         }    
         }
         
         ////diamond down
        if (RSI2[i]<7.5){  
               ObjectCreate("Darchellen"+DoubleToStr(i), OBJ_TEXT, 1, Time[i], 26);
               ObjectSetText("Darchellen"+DoubleToStr(i), CharToStr(117), 21, "Wingdings", clrDimGray);
            if (RSI2[i]<2) {ObjectSetText("Darchellen"+DoubleToStr(i), CharToStr(117), 21, "Wingdings", clrPurple);
               
            }
         }

All of a sudden, we can talk about undercuts in terms of progression diamonds. So when I say, maximum 3 more undercuts, a 2-pip undercut may not qualify, if it were a single diamond, thus there is no horizontal line print.

			
///Leg 2 & 3 Down  
 if (RSI2[i+1]<6.4 && 
 ((RSI2[i]<6.49 && RSI2[i+2]>6.4)
   || (RSI2[i+1]<2 && RSI2[i+2]<6.4 )  )){
     ObjectCreate("BitussY"+IntegerToString(i),OBJ_TREND,0, Time[i+4], Low[i+1], Time[i+1], Low[i+1] );
      ObjectSet("BitussY"+IntegerToString(i), OBJPROP_COLOR, clrThistle);
      ObjectSet("BitussY"+IntegerToString(i), OBJPROP_WIDTH, 5 );
      ObjectSet("BitussY"+IntegerToString(i), OBJPROP_STYLE, 2 );
      ObjectSet("BitussY"+IntegerToString(i), OBJPROP_BACK, 1 );
      ObjectSet("BitussY"+IntegerToString(i), OBJPROP_RAY_RIGHT, 0 );
      if (Low[i]>Low[i+1]) {
          ObjectCreate("Sixt"+IntegerToString(i), OBJ_TEXT, 0, Time[i+1], High[i+4]+20*Point); 
      ObjectSetText("Sixt"+IntegerToString(i), "d1S", 23, "Impact", clrOrange);
      if (i>0 && High[i-1]<High[i+1]) ObjectSetText("Sixt"+IntegerToString(i), "L1BreakBuy", 23, "Impact", clrGreen);
      }
      if (Low[i]<Low[i+1] && Close[i]>Close[i+1]
      && Low[i]>ExtATRBuffer2[i]
      ) {
          ObjectCreate("Sixt"+IntegerToString(i), OBJ_TEXT, 0, Time[i+1], Low[i+1]-20*Point); 
      ObjectSetText("Sixt"+IntegerToString(i), "dxB", 23, "Impact", clrDarkGreen);
      ObjectCreate("CoalPerfect"+IntegerToString(i), OBJ_ELLIPSE, 0, Time[i], Low[i+1], Time[i], Low[i+1]+100*Point);
        ObjectSetInteger(0,"CoalPerfect"+IntegerToString(i),OBJPROP_COLOR,clrGreen);
        ObjectSetDouble(0,"CoalPerfect"+IntegerToString(i),OBJPROP_SCALE,.045);
        ObjectSet("CoalPerfect"+IntegerToString(i),OBJPROP_WIDTH,4);
         ObjectSet("CoalPerfect"+IntegerToString(i),OBJPROP_BACK,0);
      }
       if (i>0 && Low[i]>Low[i+1] && High[i]<High[i+1] && Close[i-1]>High[i] && RSI2[i-1]<70) {
          ObjectDelete("Sixt"+IntegerToString(i));
          ObjectCreate("Sixt"+IntegerToString(i), OBJ_TEXT, 0, Time[i+1], High[i+1]+80*Point); 
      ObjectSetText("Sixt"+IntegerToString(i), "dxBB", 43, "Impact", clrGreen);
        ObjectCreate("CoalPerfect"+IntegerToString(i), OBJ_ELLIPSE, 0, Time[i], High[i-1], Time[i], Low[i-1]);
        ObjectSetInteger(0,"CoalPerfect"+IntegerToString(i),OBJPROP_COLOR,clrChartreuse);
        ObjectSetDouble(0,"CoalPerfect"+IntegerToString(i),OBJPROP_SCALE,.085);
        ObjectSet("CoalPerfect"+IntegerToString(i),OBJPROP_WIDTH,4);
      }
    }  

		

The following ideas may not sound very intuitive, but again, I find them helpful for me.

A single diamond print that is falling short of the implied volatility (30-sample BB proxy) is a successful auction. See the red circles above.

The ribbon arrows are to call attention to the single prints.

 ///single print top
 if (RSI2[i]<80 && RSI2[i+1]>92.5 && RSI2[i+2]<92 && (High[i+1]<iBands(symbol,0,30,2,0,PRICE_MEDIAN,MODE_UPPER,i+1)
 || (High[i+1]>free[i+1] && Close[i+1]<free[i+1]) 
 )){
   
      ObjectCreate("Sixth"+DoubleToStr(i), OBJ_TEXT, 0, Time[i+1], High[i+1]+120*Point); 
      ObjectSetText("Sixth"+DoubleToStr(i), CharToStr(202), 83, "Wingdings", clrRed);

   }

An auction stretching over 5 or more diamonds is a failed auction. It should receive up to 3 more progression diamonds. I circled the failed auctions in blue.

////Leg 5+ down
if (RSI2[i]>6.4 && RSI2[i+5]<6.4 && RSI2[i+1]<6.4 && RSI2[i+2]<6.4 && RSI2[i+3]<6.4 && RSI2[i+4]<6.4
){
ObjectCreate(“BitussY”+IntegerToString(i),OBJ_TREND,0, Time[i+4], Low[i+1], Time[i+1], Low[i+1] );
ObjectSet(“BitussY”+IntegerToString(i), OBJPROP_COLOR, clrPlum);
ObjectSet(“BitussY”+IntegerToString(i), OBJPROP_WIDTH, 5 );
ObjectSet(“BitussY”+IntegerToString(i), OBJPROP_STYLE, 2 );
ObjectSet(“BitussY”+IntegerToString(i), OBJPROP_BACK, 1 );
ObjectSet(“BitussY”+IntegerToString(i), OBJPROP_RAY_RIGHT, 0 );
if (i>0 && Low[i]>Low[i+1] && RSI2[i]<75) {
ObjectDelete(“Sixt”+IntegerToString(i));
ObjectCreate(“Sixt”+IntegerToString(i), OBJ_TEXT, 0, Time[i+3], Low[i]-20*Point);
if (Close[i]<fifty[i])
ObjectSetText(“Sixt”+IntegerToString(i), “d5ucB”, 43, “Impact”, clrGreen);
else ObjectSetText(“Sixt”+IntegerToString(i), “d5iB”, 43, “Impact”, clrGreen);
ObjectCreate(“CoalPerfect”+IntegerToString(i), OBJ_ELLIPSE, 0, Time[i], High[i-1], Time[i], Low[i-1]);
ObjectSetInteger(0,”CoalPerfect”+IntegerToString(i),OBJPROP_COLOR,clrGreen);
ObjectSetDouble(0,”CoalPerfect”+IntegerToString(i),OBJPROP_SCALE,.085);
ObjectSet(“CoalPerfect”+IntegerToString(i),OBJPROP_WIDTH,4);
ObjectSet(“CoalPerfect”+IntegerToString(i),OBJPROP_BACK,0);
}
}

The 2-4 diamonds I call undetermined.

			
///Leg 2 & 3 Down  
 if (RSI2[i+1]<6.4 && 
 ((RSI2[i]<6.49 && RSI2[i+2]>6.4)
   || (RSI2[i+1]<2 && RSI2[i+2]<6.4 )  )){
     ObjectCreate("BitussY"+IntegerToString(i),OBJ_TREND,0, Time[i+4], Low[i+1], Time[i+1], Low[i+1] );
      ObjectSet("BitussY"+IntegerToString(i), OBJPROP_COLOR, clrThistle);
      ObjectSet("BitussY"+IntegerToString(i), OBJPROP_WIDTH, 5 );
      ObjectSet("BitussY"+IntegerToString(i), OBJPROP_STYLE, 2 );
      ObjectSet("BitussY"+IntegerToString(i), OBJPROP_BACK, 1 );
      ObjectSet("BitussY"+IntegerToString(i), OBJPROP_RAY_RIGHT, 0 );
      if (Low[i]>Low[i+1]) {
          ObjectCreate("Sixt"+IntegerToString(i), OBJ_TEXT, 0, Time[i+1], High[i+4]+20*Point); 
      ObjectSetText("Sixt"+IntegerToString(i), "d1S", 23, "Impact", clrOrange);
      if (i>0 && High[i-1]<High[i+1]) ObjectSetText("Sixt"+IntegerToString(i), "L1BreakBuy", 23, "Impact", clrGreen);
      }
      if (Low[i]<Low[i+1] && Close[i]>Close[i+1]
      && Low[i]>ExtATRBuffer2[i]
      ) {
          ObjectCreate("Sixt"+IntegerToString(i), OBJ_TEXT, 0, Time[i+1], Low[i+1]-20*Point); 
      ObjectSetText("Sixt"+IntegerToString(i), "dxB", 23, "Impact", clrDarkGreen);
      ObjectCreate("CoalPerfect"+IntegerToString(i), OBJ_ELLIPSE, 0, Time[i], Low[i+1], Time[i], Low[i+1]+100*Point);
        ObjectSetInteger(0,"CoalPerfect"+IntegerToString(i),OBJPROP_COLOR,clrGreen);
        ObjectSetDouble(0,"CoalPerfect"+IntegerToString(i),OBJPROP_SCALE,.045);
        ObjectSet("CoalPerfect"+IntegerToString(i),OBJPROP_WIDTH,4);
         ObjectSet("CoalPerfect"+IntegerToString(i),OBJPROP_BACK,0);
      }
       if (i>0 && Low[i]>Low[i+1] && High[i]<High[i+1] && Close[i-1]>High[i] && RSI2[i-1]<70) {
          ObjectDelete("Sixt"+IntegerToString(i));
          ObjectCreate("Sixt"+IntegerToString(i), OBJ_TEXT, 0, Time[i+1], High[i+1]+80*Point); 
      ObjectSetText("Sixt"+IntegerToString(i), "dxBB", 43, "Impact", clrGreen);
        ObjectCreate("CoalPerfect"+IntegerToString(i), OBJ_ELLIPSE, 0, Time[i], High[i-1], Time[i], Low[i-1]);
        ObjectSetInteger(0,"CoalPerfect"+IntegerToString(i),OBJPROP_COLOR,clrChartreuse);
        ObjectSetDouble(0,"CoalPerfect"+IntegerToString(i),OBJPROP_SCALE,.085);
        ObjectSet("CoalPerfect"+IntegerToString(i),OBJPROP_WIDTH,4);
      }
    }  

		

As you can see, time is probably the most important element of trading.

The handling of the Ellipses, the fact that on every zoom they become a different size, is terrible, but this is what we have to work with.

A failed auction does not have to receive a beat if the move is a correction.

The move is back to the yellow lines (auto plot) – those are made by the 30-minute closes; a green connected to a red or a red connected to a green hump on the Market Type.

I would expect a drop, a Wave 5 down, but I am not certain that it would make a lower low. At the moment, I’m thinking 1.1428-1.1413 would be a safe area to tilt bullish, but at lest neutral.