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rpasupathy Apr 11, 2019 9:44am | Post# 1

My Last Humble Request
 
Please go to the below post to see the latest Developments -- A lot of changes have happened since the original idea.

https://www.forexfactory.com/showthr...9#post12230659

Thanks to all the contributors ..




Hi Friends,

My last humble request to code this pattern :

BUY CANDLE :

1. If a candle OPENS BELOW OR EQUAL to PREVIOUS candle low and CLOSES EQUAL OR BELOW the previous candle CLOSE.

2. Then Alert with a pop up message

SELL CANDLE :

1. If a candle OPENS ABOVE OR EQUAL to PREVIOUS candle High and CLOSES EQUAL OR ABOVE previous candle CLOSE.

2. Then Alert with a pop up message


Thanks

rpasupathy Apr 11, 2019 10:05am | Post# 2

1 Attachment(s)
The pattern on the chart :

Previous candle High : 0.74781 and close : 0.74780

Down Arrow Candle open : 0.74781

Down Arrow candle Close : 0.74782

Condition satisfied for SELL.

Thanks

Find attached the screenshot
Click to Enlarge

Name: cadchf.JPG
Size: 41 KB

IceRice Apr 11, 2019 10:51am | Post# 3

2 Attachment(s)
Here it is
weird candles.ex4
weird candles.mq4

wolf300 Apr 12, 2019 11:37am | Post# 4

Here it is {file} {file}
Hi IceRice,

thanks for the work and funny name lol, the candles are weird and pretty seldom, times often against trend.

What, if the name of your indi changed into "consecutive candles.mq4" ?

If you take a look at rpasupathy`s pic and make "sell candles" go like : Lower high than previous candles high and lower close than prev. candles low, alert triggers.

"Buy candles" like this : Higher high than previous candles high and higher close than prev. candles high, alert triggers.

In every Timeframe (mtf function maybe included) WAY more money can be made; than with weird candles, don`t you think? Because it is based on priceaction.
Could be used with "grid-trading" or many other systems.

If you like the idea, please use hollow arrows or very small dots. Many templates do have that kind of arrows in another indi already, can confuse, you know.

T4Trade Apr 12, 2019 3:47pm | Post# 5

how do you trade these candle?

IceRice Apr 12, 2019 4:11pm | Post# 6

{quote} Hi IceRice, thanks for the work and funny name lol, the candles are weird and pretty seldom, times often against trend. What, if the name of your indi changed into "consecutive candles.mq4" ? If you take a look at rpasupathy`s pic and make "sell candles" go like : Lower high than previous candles high and lower close than prev. candles low, alert triggers. "Buy candles" like this : Higher high than previous candles high and higher close than prev. candles high, alert triggers. In every Timeframe (mtf function maybe included) WAY more money...
It's worth checking your idea. Looking at rpasupathy's picture it will be first red candle after green candle marked with down arrow (lower high and lower close), right? Looks interesting. Could eliminate a lot of false signals. I will check this and share code here.

wolf300 Apr 13, 2019 6:32am | Post# 7

how do you trade these candle?
It is like following the marketmakers and the priceaction they generate.

Each candle ( in every timeframe ) shows the winner between the bulls and the bears. A long wick for example represents a clear winner.

And so do lower (or higher) highs and lower (or higher) closes depending who is in front, the bulls or bears.

One method to trade such consecutive candles with consecutive arrows shown, could be to trade them " blindly " until the first opposite arrow appears.

That would add up several trades, like the name says ( consecutive ) and when you then run into a loss, you are still in profit because of the longer lasting first trades.

Or by grid trading, say the grid you trade is 13 pips, an arrow appears and supported by a MA with a steep slope (showing strong momentum), you catch your 13 pips.

Core is priceaction.

wolf300 Apr 13, 2019 6:55am | Post# 8

{quote} It's worth checking your idea. Looking at rpasupathy's picture it will be first red candle after green candle marked with down arrow (lower high and lower close), right? Looks interesting. Could eliminate a lot of false signals. I will check this and share code here.
Yeah, this is definitely interesting...

Hi IceRice,

please have a look at above post with the ways to trade such candles to see what I mean and then check out the pic again.

Rp`s pic is a beautiful example about priceaction. Imagine an arrow above / below every candle the conditions are right, that way you get many consecutive arrows.

Yes, you are right, the first red candle after the green one marked by down arrow, gets the first popup alert and arrow, or small dot above candle...

... the next two candles trigger an alert too, because the conditions are " true ". Even if the fourth red candle in that strike, got a lower high, it won`t trigger an

alert, because it does not close lower than the previous candles low. See ?

Please check out the second down move in that pic. The first "bigger" red candle got the lower high (because bulls did not manage to beat out the last high)

and it got the lower close (because the bears took over and pushed price below last low and even closed below it, what proofs the power of the bears and the

weakness of the bulls.)

So if you check every single candle in that pic, you get a nice number of consecutive dots or whatever alert displays.

Ah, back to the second move south, see the green doji after the first "bigger" red candle with the first imagined arrow/dot ?

Very nice example: It does not get an alert at all, BUT after that, we start getting consecutive candle alerts when conditions match.

The first red candle after the green doji, I would guess, is closing right at the last low, but you get the point. Next one and the following three getting alerts.

wolf300 Apr 13, 2019 7:36am | Post# 9

1 Attachment(s)
Sorry rpasupathy for bringing my idea up in your thread,

but I am sure you will not hit me, if it brings the one or other thousand bucks into your account

IceRice, T4Trade and everyone interested, here is Rp`s pic changed to IceRice`s brand new indicator, called "consecutive_candles"

with popup, email, push, wash my car and paint my house - alerts and dots above/below matching candles.

Please check out the four green candles in the middle. Three got higher highs than the previous candle, but non of them closes above previous candles high.

That proofs overall lack of power of the bulls, which then ran out of power totally showing by the following "doji" "morningstar" or what ever it is called.

Next (the "bigger" red candle we were talking about ) shows lower high and lower close than last low. Hope the pic helps. It`s right, nine short trades are open, if you overcome the six bars (90 minutes) and keep the first three trades running and keep on trucking with the following short alerts...uuh yeah.

Best part is, it is based on pure priceaction marketmakers generate, not on a "lagging - maybe - I - come - tomorrow - indicator"

Click to Enlarge

Name: consecutive candles with alert and dot.png
Size: 274 KB

I am sure when coders look at this beautiful priceaction pic with the nice priceaction indi, they see (with their inner eye) a pure "exit indi".

If you not use an opposite alert for exit of course.

Exit could be 61.8 % or more of the last consecutive candle alert or a touch of the last consecutive candle alert open/close, or something like that.

IceRice Apr 15, 2019 4:57am | Post# 10

2 Attachment(s)
Let's start from indicator. I've made indicator "consecutive candles" with dot at each candle that met criteria and up/down arrows on each direction change.

In the next step we can consider entry and exit points and develop EA.
consecutive candles.ex4
consecutive candles.mq4

wolf300 Apr 15, 2019 7:32am | Post# 11

Let's start from indicator. I've made indicator "consecutive candles" with dot at each candle that met criteria and up/down arrows on each direction change. In the next step we can consider entry and exit points and develop EA. {file} {file}
Hi IceRice,

very nice of you catching up the idea and coding the indi !

Letīs put together something profitable here with tests, screenshots and how to use "consecutive candles". This is gonna be great.

Thanks for your effort ! It comes all back to you.

rpasupathy Apr 15, 2019 7:47am | Post# 12

Sorry rpasupathy for bringing my idea up in your thread, but I am sure you will not hit me, if it brings the one or other thousand bucks into your account IceRice, T4Trade and everyone interested, here is Rp`s pic changed to IceRice`s brand new indicator, called "consecutive_candles" with popup, email, push, wash my car and paint my house - alerts and dots above/below matching candles. Please check out the four green candles in the middle. Three got higher highs than the previous candle, but non of them closes above previous candles high....

No Problem...

Ideas and suggestions are always welcome...

wolf300 Apr 15, 2019 7:47am | Post# 13

Hi rpasupathy,

the founder of this thread.

Please don`t get it wrong, it is not about stealing or capture your thread, it is about your basic idea of gain profits of pure priceaction.

I hope you will allow people to develop the priceaction idea in your thread.

With respect

wolf300

(Edit) ...that`s funny, we typed within the same minute. I am glad you are ok with everything !!

wolf300 Apr 15, 2019 9:32am | Post# 14

1 Attachment(s)
Let's start from indicator. I've made indicator "consecutive candles" with dot at each candle that met criteria and up/down arrows on each direction change. In the next step we can consider entry and exit points and develop EA. {file} {file}
Ok, let`s start the development.

Here is a pic of todays GBPUSD M30.

The rules to buy or sell and where should have been a dot and where no dot should appear to avoid wrong signals during a trend.
Also there are some dots not matching the rules but are very good signals. (Maybe this version to keep for certain situations)

Please take a look (did not mark all) and compare the code.

Click to Enlarge

Name: cons rules.png
Size: 53 KB

To start, maybe we can change the rules for the arrows (change of direction) completely and use then the dots for confirmation of
changed direction. For example a zigzag point of change hits to the pip and to the minute, BUT where and when is that ??
To confirm such a point the FIRST dot after this point could be the solution.

For that matter within this beautiful indicator, the easiest way to show how market pushes the arrow further (to a TRENDLINE or a S/R-Level) (arrow only, NOT the dot)
would be: A higher high than the last candles high or a lower low than the last candles low.
And if our rules of consecutive candles indicator match after the last candle of the run, we can assume a direction change based on more power of bulls or bears.

Ofcourse we could simply set the colors of the arrows to none, if it is to confusing or the trading style doesn`t match.

wolf300 Apr 15, 2019 10:23am | Post# 15

{quote} Hi IceRice, thanks for the work and funny name lol, the candles are weird and pretty seldom, times often against trend. What, if the name of your indi changed into "consecutive candles.mq4" ? If you take a look at rpasupathy`s pic and make "sell candles" go like : Lower high than previous candles high and lower close than prev. candles low, alert triggers. "Buy candles" like this : Higher high than previous candles high and higher close than prev. candles high, alert triggers. In every Timeframe (mtf function maybe included) WAY more money...
Just checked the first post about the idea again...

I am so sorry IceRice. The buy rules are correct, but the sell rules should just be the opposite of the buy rules.

Sell: Lower LOW than previous candles LOW and lower CLOSE than previous LOW.... of course,

otherwise we would have two different indis in one.

It is all about the power of the bulls or bears demonstrated in priceaction.
Sorry again, if I caused confusion.

IceRice Apr 15, 2019 10:46am | Post# 16

2 Attachment(s)
{quote} Just checked the first post about the idea again... I am so sorry IceRice. The buy rules are correct, but the sell rules should just be the opposite of the buy rules. Sell: Lower LOW than previous candles LOW and lower CLOSE than previous LOW.... of course, otherwise we would have two different indis in one. It is all about the power of the bulls or bears demonstrated in priceaction. Sorry again, if I caused confusion.
I suppose that there is mistake Such things always are visible in tests and there is no problem to correct this quickly.
consecutive candles 1_01.ex4
consecutive candles 1_01.mq4

wolf300 Apr 15, 2019 11:06am | Post# 17

{quote} I suppose that there is mistake Such things always are visible in tests and there is no problem to correct this quickly. {file} {file}
Wow you are fast ...

what did you change and what rule does arrows have now ?

IceRice Apr 15, 2019 11:30am | Post# 18

{quote} Wow you are fast ... what did you change and what rule does arrows have now ?
Changed sell signal rule to new one:
Sell: Lower LOW than previous candles LOW and lower CLOSE than previous LOW.... of course,

wolf300 Apr 15, 2019 11:31am | Post# 19

1 Attachment(s)
Just a quick pic of GBPUSD M15 with "con can 1 01" indi.

Please have a look.

Click to Enlarge

Name: con rules 2.png
Size: 47 KB

What do you think about the idea to separate the arrows from the dots and let price push arrows to the real turning point just by higher highs or lower lows?
The dots would work with our rules then and confirm the turning point in price.

wolf300 Apr 15, 2019 1:11pm | Post# 20

1 Attachment(s)
Here is an illutration (all arrows and dots drawn by hand ) about the rules where and when a dot appears and the idea to let market push the arrows

until they stop and wait for the confirmation of the turning point by a dot in the opposite direction. Take a look.

Click to Enlarge

Name: con illustration 2.jpg
Size: 541 KB

As you can see, you could just go by the dots, but IceRice`s idea to add arrows makes sence if you trade with trendlines and s/r levels to where the arrow is getting pushed. Can be a huge help. Question is about the alerts triggered. Doesn`t make sence to get wrong alerts each time arrow is pushed, but price doesn`t turn realy.


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