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DowHow AddOn - what is in the package?

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  • DowHow AddOn - what is in the package?

    The DowHow Add-On contains the simplest of all trading approaches, based on the Dow Theory principles of supply and demand. The name DowHow is based on the two terms “know-how” and “Dow Theory” and describes the correct and practical use of Dow Theory in today’s world.

    Taking into account that the constant shift between supply and demand creates movement and corrections and that this ultimately – and always – results in a trend, the DowHow approach uses precisely this fact and basically takes advantage of the accumulation phase described by Charles Dow to generate an entry signal (see image 1).





    Furthermore, in his essay, Dow describes the higher probability of a trend continuation – based on the physical laws of nature – than a trend break. Many years of backtests support this statement with an approximate probability of 65%. In practice, this means that coming out of the accumulation phase (correction), the price will, with high probability, exceed the last high point (and vice versa low point) by means of the closing price, thereby continuing the trend. With the increasing maturity of a trend (from the 4th correction onwards), the probability sinks to almost 50%, meaning that the best signals come from a young trend – i.e. from the second and third correction.

    The DowHow Add-On embraces these statistically proven facts and accordingly only produces signals when the trend is in the young phase described above. Developed from practical experience, the following further parameters are also taken into consideration for signal generation (image 2):
    • the correction must be equivalent to at least 50% of the last movement
    • the RSI must be located in the extreme area RSI (<40 and >60)
    • the candle color must have changed (long = green, short = red)




    Indicators - custom:

    DowHowMarketPhasesPro: market phases analyzer PRO V 6.0
    DowHow123Pro: 1-2-3 recognition V 12.0

    Conditions (also available in the Setup Escort):

    LongGabelReversal - reversal bar recognition long
    DH_long (in several timeframes)
    DH_short (in several timeframes)

    Dow How (Market Technique) stops (also available in the Setup Escort):

    DowHowMover (moving stop)

    DowHowStopT0
    DowHowStopT1
    DowHowStopT2

    Workspace:

    DowHow - Markus workspace with preset list chart groups

    In the “DowHow workspace”, you will find all relevant timeframes with the corresponding, generally valid Forex lists. You can find more information on the Gabel-Trading homepage www.gabel-trading.com.
    Attached Files
    Last edited by AgenaTrader; 07-26-2017, 06:33 AM.

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