"New top in trend" and "New bottom in trend" blocks
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I just noticed in another post that the "Time bomb up" and "Time bomb down" blocks are inaccurate when used in back testing:
http://fxdreema.com/forum/viewtopic.php?f=2&t=1883&p=2309&hilit=bomb#p2309Does this also apply to the "New top in trend" and "New bottom in trend" blocks, or are they accurate?
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"New top in trend" and "New bottom in trend" does not use time in calculations. They are as accurate as any other candles calculations. These blocks checks back to see if for X candles the price moved for at least Y pips. And the third parameter is... if it's lower, more up/downs in price are allowed between the oldest and the newest candle.
I made those blocks to serve one of my ideas - to detect when the price breaks at a new top/bottom, and all the previous cadles are below/above that level. Maybe there are indicators to do that, I don't know. But for your question - time bomb and new top/bottom blocks are similar, but time bomb lives in a timeframe lower than the lowest possible for MT, and that's why it is innacurate in backtesting.