Ding Dong !!!!!!!!!!!!!!!!!!!!!!
Thanks Stevegee58,
we are working in the right direction
One cuestion,
Do you use some filter?
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DislikedMost indicators, including candle patterns work better on the higher timeframes because the signal to noise ratio is better. But of course you get fewer signals and trading on the higher time frames requires more patience. I don't think there's an indicator anywhere (other than something trivial) that doesn't provide false signals and I don't mean programming errors. It simply is very difficult to program something that has to anticipate dozens of variations and pick the valid ones.Ignored
DislikedDing Dong !!!!!!!!!!!!!!!!!!!!!!
Thanks Stevegee58,
we are working in the right direction
One cuestion,
Do you use some filter?Ignored
DislikedLocilia, I'll have to admit not knowing much about what you are attempting and the charts do not show enough detail. Are you using step progression, engulfing patterns, gaps or any of the other common candle patterns? May be I should take a course in coding.Ignored
DislikedWell, here's something to consider. If price is above the 20 EMA, then 60% of the bars will have the close higher than the open. Since the odds favor long positions, why take shorts?
If you have an open/close pattern that also has a statistical edge, you can improve the edge by taking trades only in the direction of the statistical bias.
If you do statistical studies like this, you can find edges you can add together for a profitable system.Ignored
DislikedHello friends !!!!!!!!
I´m very interested in patterns like this
if((Open[i+1]>Close[i+1])&&(Close[i+1]>Open[i])&&(Close[i]>Open[i+1]))
Swing up;
if((Close[i+1]>Open[i+1])&&(Open[i]>Close[i+1])&&(Open[i+1]>Close[i]))
Swing down;
( I´m not a good coder but I have modified the indicator attached of Yurily Tokman )
Anybody Know any good patterns??Ignored
DislikedThe attached indicator - which I wrote a long time ago - will highlight OBs (and much more), but somebody will need to add an alert to it.Ignored
DislikedIt plots white arrows to highlight outside bars (higher high, lower low than preceding candle), and optionally also yellow arrows for other candles whose body engulfs the previous candle's body. It can be attached to an MT4 chart of any pair, any timeframe. You can attach it to multiple chart timeframes if you wish.Ignored
DislikedThe parameters work as follows:
MinBarHeight, MaxBarHeight - candles whose height (in points) falls outside this range will not be highlighted.Ignored
DislikedCloseWithinXpct - the close must be within the top X% of the candle, for a bullish candle, and in the bottom X% for a bearish candle. Set to 100 if this doesn't matter.Ignored
DislikedMinBodyPct - the body must be at least X% of the total candle height. Set to 0 if this doesn't matter.Ignored
DislikedMustFollowOppColor - set to true if the OB must be of opposite color to the candle that it engulfs. Set to false if this doesn't matter.Ignored
DislikedEngulfMarginPct - applies to engulfing body candles only, as opposed to OBs. The body must be at least X% in height, relative to the height of the previous candle's body. e.g. if the body must be at least twice as high, enter 200.Ignored
DislikedEngulfTolerance - applies to engulfing body candles only, as opposed to OBs. Allows a tolerance of X points between the close of the previous candle, and the open of the current candle. Setting this to a negative value means that only OBs, as opposed to engulfing body candles, will be highlighted (i.e. no yellow arrows on the chart).Ignored
DislikedStartHour, EndHour - Candles falling outside this time range will not be highlighted.Ignored
DislikedDifference between the larger and smaller arrows: This is a very rough attempt to highlight (with larger arrows) OBs/engulfing bodies that occur at the end of a trend (signaling a possible reversal), or during a pullback (signaling a possible continuation of the original trend).Ignored
DislikedHi Localia, the logic you use there is the engulfing pattern. A better pattern is a specific type of engulfing pattern, known as the outside bar pattern. This is the first indicator that I am posting.Ignored
DislikedHi Localia, you've been quiet for too long. Anything new or have you been busy unrapping presents?Ignored
DislikedSomeone left these presents near my chimney
Do you want to play with me??
Happy new year 2010Ignored
DislikedThis looks very interesting. Have you tried a backtest?
I have also noticed that D1 and H4 are much more tradable (mean-reverting) than H1 or M30. I think I have an idea why - "real traders" come to work in the morning and they have to push the pair in some direction (ie, you have a 100 mil line and you've got to do something with it - buy or sell). Then, the next day they push it in the other :-p. On H1 this is not visible. This is a simplist explanation, so don't shoot, but the basic idea is this.
BTW, you might wanna try M5 also. I saw the...Ignored
DislikedIgnored
DislikedAnother interesting code...
{-----------------indicator $XO_S1------------------------------}
Inputs: Length(1);
vars: SumBody(0), CumBody(0);
CumBody= CumBody[1] + (Close - Open) + iff(Close>Close[1],BoxSize,-BoxSize);
SumBody= SumBody[1] + CumBody - CumBody[Length];
Plot1( SumBody / (100 Point) , "Series",iff( SumBody >=0,3,2),2);
{----------------------------------------------------------------}
{-----------------indicator $XO_S2------------------------------}
Inputs: Length(1);
vars: SumBody(0), CumBody(0);
CumBody= CumBody[1] +...Ignored
DislikedDssBressert is a good stochastic (i think) based indicator however it uses a moving average as a filter. LINK is a spot where some traders are trying to make an EA out of it.Ignored