Quote from bmwhendrix:
Quote from artfartdart:
my guess is "price action."
but my leaning isn't necessarily price action. my lean is whatever gives you a statistical edge. price action seems too subjective a term to tell a computer what it is.
art, you have hit on a very key element to PA trading. It is not easy to tell a computer what it is, therefore it is not easy to program. That is why people use various indicators that are easily programmable, but never quite get it right.
Oh, and PA has different meaning to different traders.
I believe if I can reason through a logical process, then it can be programmed. I can reason through hits on a trendline, but I can not program it. Why? Because the rules keep changing, as price morphs from one fractal to another. Same reason that A crossing B worked last week, but now gives steady losers. What you identified as a major TL or channel last week, turns out to be a corrective wave this week using the same rules.
What might appear very simple, quickly gets complicated, and causes many traders to adopt the view that PA trading is BS. It is more of an art and study of human behavior I think than it is a science. But you will make your own decision. I'm just here for the picnic and chicken salad.
you want art, take up water color