[zebulon]

High everybody !

For this system, you need 2 indicators　: a pen and some paper.

I trade only GBP/USD because usually, there are big movements.

Each time the price move 50 pips up, i draw a green candle.
Each time the price move 50 pips down, i draw a red candle.

As Renko, this system does not take care about time, a candle is drawn when 50 pips are done whatever the time to reach it.

This is good to eliminate the noise.

This system is good in trend and in range.

[zebulon]

So, here is november 2009 :

[zebulon]

The rules　:
I buy when the 2 previous candles are green.
I sell when the 2 previous candles are red. (playing the trend)

I consider we are in a range when 3 reverse candles are coming. Then i continue to play with the range when the 3 previous candles are reverse.

TP = 50 pips
SL= 50 pips

[zebulon]

A= buy
V = sell

+ = 50 pips
- = - 50 pips

Now we have 150 pips in November.
Let see it next weeks.

[olachico]

time frame?

Originally Posted by zebulon

The rules　:
I buy when the 2 previous candles are green.
I sell when the 2 previous candles are red. (playing the trend)

I consider we are in a range when 3 reverse candles are coming. Then i continue to play with the range when the 3 previous candles are reverse.

TP = 50 pips
SL= 50 pips

[zebulon]

Usually i use TF 30 min.
But when there are news, i need sometimes to use 1 min because one or two 50 pips movement may be hide in a 30 min candle.

But TF is not very important, just to draw the candle correctly.

[jgadefelth]

is there not 2 winners and one losser in november ?


have you back test it or looked at it in other mounth how does it look ?

it looks more profitable if you take a long positions after a red candle and a short position after a green candle


best regards

[logical]

Hello

Would it not be more LOGICAL if you were to trade against the previous closing candle.

For example, when green candle is drawn, open sell for next order.

If red candle is drawn, open buy for next order.

It makes easily 600 pips as opposed to 150 pips.

Also, lets not forget the spread... we can look at this later.

LOGICAL

[neurus]

What timeframe do you use?

Originally Posted by logical

Hello

Would it not be more LOGICAL if you were to trade against the previous closing candle.

For example, when green candle is drawn, open sell for next order.

If red candle is drawn, open buy for next order.

It makes easily 600 pips as opposed to 150 pips.

Also, lets not forget the spread... we can look at this later.

LOGICAL

[jtmoore007]

Originally Posted by neurus

What timeframe do you use?

it isn't tf based. It is movement based. My question is when do u start your count? Everyone would have diff trade depending on when u started counting up or down. I guess good starting point would b week opening. But if u start just 1 min later u would take different trades as the person who started exactly at market open

[logical]

Has anybody came across an indicator that highlights 50 pip movement on a chart?

This will save lots of time rather than manually checking each move.

With regards to timeframe - there is none - this system is pip based not time based.

With regards to results - yes everyones will be different depending on open time/price of initial trade.

With regards to this system - I think it can be a good system because just say that 50% of the time price is in a trend and 50% of the time price is is a range we can catch pips both times. Even set a trailing stop at 50 pips so that we can catch bigger pips in a trend.

Also when price is in a trend, there is small ranges in the middle of trend. Good way to get that 50% up even more and catch pips.

LOGICAL

[zebulon]

Originally Posted by jgadefelth

is there not 2 winners and one losser in november ?


have you back test it or looked at it in other mounth how does it look ?

it looks more profitable if you take a long positions after a red candle and a short position after a green candle


best regards

In novembre we have 12 winners (12+) and 9 loser (9-)
I backtest The system and the result is august =500 pips, September = 850 pips, october = 750 pips

your suggestion is good for range period, but not if we are in a trend...

[zebulon]

Originally Posted by logical

Hello

Would it not be more LOGICAL if you were to trade against the previous closing candle.

For example, when green candle is drawn, open sell for next order.

If red candle is drawn, open buy for next order.

It makes easily 600 pips as opposed to 150 pips.

Also, lets not forget the spread... we can look at this later.

LOGICAL

This week, we had ranges, but when the trend will come back, your suggestion will fail...

[zebulon]

Originally Posted by jtmoore007

it isn't tf based. It is movement based. My question is when do u start your count? Everyone would have diff trade depending on when u started counting up or down. I guess good starting point would b week opening. But if u start just 1 min later u would take different trades as the person who started exactly at market open

You can start when you want : you draw the 2 or 3 previous candles and you put your order...

[jgadefelth]

what about if we dont use 50 pips as a target and stopploss for the candle mark we use maybe 20 pips that way we can have more money in the market ?

best regards