Scalping 2 Legged pull back indicator (PAT's)

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Viewing 13 posts - 1 through 13 (of 13 total)
  • 06/02/2020 at 6:08 PM #134268
    Regan2020

    Hi all,

    I am relatively new to this site, but have found it incredibly helpful so far, and found some great indicators to aid with my intra day trading.

    I am looking for somebody who may of already built an indicator, or has the capabilities to draft up something that can identify the build up to a 2 legged pull back on a 2/5 timeframe based on the AL Brooks and PAT’s trading concept.

    I have recently transitioned from long holding to day scalping (a bold move) and I am trying to find something that can aid with the rest of my DD when looking to identify the entry to a two legged pull back on such a small timeframe.

    any help would be highly appreciated!

    many thanks in advance

    06/02/2020 at 6:17 PM #134271
    Bel

    Hi Regan.

    Do you have something like the ABC pullback or as they call it the “complex pullback” in mind?

     

    Regards,

    Bel.

    06/02/2020 at 6:33 PM #134272
    Regan2020

    Hi Bel,

    yes, something very similar to the ABC indication, but also as a great example something that can indicator the following attached picture.

    Obviously markets shift, but as I work throughout the day (and trade whilst running my business) it would be great to have a good indicator that I can set an alert for and Start DD before a committed buy or sell.

    06/02/2020 at 8:47 PM #134296
    Bel

    That shouldn’t be too hard to code imho but need to know exactly what we looking for. From the second pic it looks like a simple count that change when bar low/high gets broken but thats too easy. You wan’t consequent bars count or something like ABC breakout indi?

    Regards,

    Bel.

    06/02/2020 at 9:36 PM #134301
    Regan2020

    Thanks Bel,

    it theory the strategy is easy, however having an indicator to use to identify a potential set up with an alert will bring my attention to the screen and away from my day job.

    The strategy is fairly simple as explained in the second picture, but I am an absolute novice when it comes to coding.

    Heres a link to Mack from PAT – I follow his style of trading.

    https://www.youtube.com/watch?v=P6qX01RkEOk

    The key is the build up following failed second entries

     

     

     

     

    06/03/2020 at 10:37 AM #134359
    Regan2020

    Hi Bel,

     

    following up on yesterdays conversation, I found a ABCD indicator in this forum, however I am looking for the ABC indicator, so I can make a diligent decision on whether there will be a buy or sell after the C.

    At the moment the ABCD indicator only forms after the D.

    06/04/2020 at 6:34 PM #134591
    Bel

    Hi Regan.

     

    I’m checking Macks youtube channel and theres plenty of videos. Seems very familiar). How long you’ve been with him? I read that his style is similar to Al Brooks? Have his books for years but never bothered to read them.

     

    Regards,

    Bel.

    06/04/2020 at 8:08 PM #134600
    Regan2020

    Hi Bel,

    I agree, he has plenty of content available online which is really helpful and persuaded me to buy his manual. Al Brooks and Macks methods are basically the same, but I find Al very particular in detail which I struggled to follow, especially as I am more of a visual learner.

    Have you tried their trading strategy before? I am still building confidence in it (being a simple ABC or ABCD pattern). I have a healthy account to be able to find one scalp a day, and when I can eventually move to a few, I would like to pursue trading full time as I already go long with swings, and I have found a niche in the UK market to which I am currently drafting a model for.

    06/04/2020 at 8:41 PM #134601
    Bel

    Sounds good. I hear ya and no I haven’t tried him. From the hindsight videos it seems he a really nice guy but the system is quite subjective. But maybe thats because I havent dipped my feet into it. I heard that Als books are complicated but I think I’ll give them a go as I’ve been reading heaps this year.

     

    Regards,

    Bel.

    06/04/2020 at 11:30 PM #134609
    Bel
    Regan2020 wrote:

    Hi Bel,

    I agree, he has plenty of content available online which is really helpful and persuaded me to buy his manual. Al Brooks and Macks methods are basically the same, but I find Al very particular in detail which I struggled to follow, especially as I am more of a visual learner.

    Have you tried their trading strategy before? I am still building confidence in it (being a simple ABC or ABCD pattern). I have a healthy account to be able to find one scalp a day, and when I can eventually move to a few, I would like to pursue trading full time as I already go long with swings, and I have found a niche in the UK market to which I am currently drafting a model for.

    Hi Regan.

    Sounds like a plan. Scalp or two a day is def possible. I’ll check PATS out in deeper context as it resonates well with me from what I see. Let you know about the ABC once I give it a good thought;)

     

    Regards,

    Bel.

    07/31/2020 at 11:46 AM #140543
    billybuddy

    Hi, did you have an answer for this indicator ? Thanks for your answer

    12/22/2020 at 5:37 AM #154821
    Futuer Trader

    Hi
    I’m also looking for this indicator. See the picture, man. It saves auditing fatigue

    See the video too, and I apologize that the video is not English, but focus on the counting indicator. It’s amazing where I can find a similar indicator

    https://www.youtube.com/watch?v=WTqgieL7h-c&list=PLEDqCJc2IUpnkPh7ruSv91BCHBtmRSaPV&index=6

    08/29/2023 at 1:38 PM #219993
    edktrading

    Hi All,

    Did anyone already find a two legged pullback indicator for Prorealtime? I know there is one or two for ninjatrader, but i want to stay with PRT….

    I am very interested. I work with the strategy from PAT’s, but want the conunting to simplify for myself.

    Kind regards,

    Erik

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