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TEMPLATE _SEES diagnostic bar
BAR TYPE: Diagnostic bars
BAR SIZE SETTINGS:
BRICK SIZE: Varies with market and volatility *See below under Most commonly used bar settings.
Most commonly used bar settings:
YM, DX, NQ, GC = 10 tick
TF, CL = 12 tick (some use NQ on 12 tick)
In General 10 or 12 tick will work for most markets during "normal" market conditions including forex. If the VIX is under 14 such as summertime trading often is, a smaller bar size may work better, even a 6 or 8 during very low volatility periods.
What do all those lines and symbols mean on the chart?
DOES THIS WORK WITH BINARIES? Yes. It seems to work best with hourly expirations so you have plenty of time to get the scalp, (between 20 mins and 1 hour is best) and take at-the-money scalps with risk being around than $40 and take profit of around $20 to 25. The higher the volatility index is in the market (the VIX), the more profit that can be expected. An example for a buy is to choose a strike around $40 and sell back around $60 to $65. For a sell, it is exactly opposite. Sell for $60 (which is risking $40) and buy back at $40 for a $20 profit.