How To Draw The Value Lines (or Expansion Lines)
To draw the lines is very simple.
For the LTF you use a zigzag configured with:
Depth:3
Backstep:1
Deviation:1
For the HTF:
Depth:2
Backstep:1
Deviation:1
You use the zigzag swings to determine highs and lows. The trigger for the line is a simultaneous higher low and lower high, then you start drawing a line from the center of this range. Initially it is called a minor line and it is only confirmed as a major line if price crosses to the other high or low of the range (depends of what happened first).
Also, a minor line can´t be confirmed as a major if you get a trigger for a new line after the minor line still was not confirmed. It does not mean you can´ t consider it as a major line if you see it turned out to be a good origin point (price oscillation above and below it). The minor lines are still relevant price points.
For the LTF you use a zigzag configured with:
Depth:3
Backstep:1
Deviation:1
For the HTF:
Depth:2
Backstep:1
Deviation:1
You use the zigzag swings to determine highs and lows. The trigger for the line is a simultaneous higher low and lower high, then you start drawing a line from the center of this range. Initially it is called a minor line and it is only confirmed as a major line if price crosses to the other high or low of the range (depends of what happened first).
Also, a minor line can´t be confirmed as a major if you get a trigger for a new line after the minor line still was not confirmed. It does not mean you can´ t consider it as a major line if you see it turned out to be a good origin point (price oscillation above and below it). The minor lines are still relevant price points.
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