STOCK ON RADAR : DIXON
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DIXON Looks interesting above 9325 pattern failure level is below 9050
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New to the P&F world! Have couple of questions if you can please reply. (1) What are the two indicator lines you are using in the chart? (2) in this chart you used 0.25%*3 (daily) which we discussed in the Delhi conference as settings for daily chart for stocks. while in the Texrail chart you posted earlier today you used 1%*3 ( daily), How does one decide which settings should be used?
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As per my understanding , The choice between these settings depends on the:
Volatility of the Asset:
0.25% * 3 (daily): This setting is suitable for less volatile assets. A smaller box size captures smaller price movements and the 3x reversal amount ensures the chart doesn't become overly sensitive to minor fluctuations.
1% * 3 (daily): This setting is appropriate for more volatile assets. A larger box size filters out smaller price movements and the higher reversal amount helps identify stronger trends amidst volatility.
Additional Considerations:Trading Style:
Scalpers: Might prefer a smaller box size to capture short-term price movements.
Positional Traders: Might prefer a larger box size to focus on longer-term trends. -
Thank you @Jrk-Prasad ! makes sense
