{quote} Puoi entrare pił in dettaglio sulle regole di queste candele verdi e rosse? Perchč le candele che ho evidenziato non erano segnate? {immagine}
Ignored
In despite the kind effort of our programmer, I too don't feel well with this indicator. I suspect that the gentleman is not clear on the strategy setup.
By M15 refinement I mean M15 movements that cause daily candles to break. On Friday we had NFP. On Monday morning I entered a market order to fill the NFP gap. I closed that buy on FOMC day, but I entered a SELL limit order at the top of the gap. FOMC blew through it, so I averaged with another SELL. Closed after retrace. I don't use SL.
We need to anticipate what we want to happen. We want High[i] > High[i+1] to happen, but we need to prepare for it when Low[i] < High[i+2]. So let's draw the line when we see Low[i] < High[i+2].
Anyway, your condition describes three soldiers: three candles in one direction. There are other patterns for 3cb, and other lines that third candle bounces off, not just high/low. We'll get to that later.
The pairs i will be watching on Monday. USDJPY - buy limit {image} AUDUSD - sell limit{image} GBPUSD- sell limit {image} EURUSD- SELL limit {image} EURCHF - SELL LIMIT {image} GBPJPY - SELL LIMIT {image} And there are others also...
Ignored
The line has to be marked on the high or the low of the candle, not at the close. Obviously, if the spike is short, there is not so much difference, but a long spike does it.
{quote} The line has to be marked on the high or the low of the candle, not at the close. Obviously, if the spike is short, there is not so much difference, but a long spike does it.
Ignored
Yes, if high/low is near the close, the price may want to go there, but if the wick is large, the price may not reach the close.
{quote} Yes, if high/low is near the close, the price may want to go there, but if the wick is large, the price may not reach the close.
Ignored
Yes that's my logic if lets say difference between wick high or low and body close is 10 pips, i will put it on body close because ( insert here any reason you can think of, but in short its a magnet for price). I am still experimenting, but in case of JPY pairs i would love to put as much distance as possible, since they will eat my sl easily if its a a crazy day.
Just for the record bunch of orders this week didnt reach the body close but they reached the wick high or low, and i missed those opportunities, so FlashPaul has right, on the other hand i want this to be boring as much as possible methodology and i don't want to be in the trade all the time and i dont want to feel the adrenalin rush.
{quote} I am not sure. I see a short on the daily with the same system.
Ignored
This system also suggests looking for a refinement entry along with higher timeframe direction. Although we see a break short on the daily, the source of that movement can be quite far up the candle. So I actually would look to go long to that level.
{quote} This system also suggests looking for a refinement entry along with higher timeframe direction. Although we see a break short on the daily, the source of that movement can be quite far up the candle. So I actually would look to go long to that level. {image}
Ignored
Although the long term trend on this pair is currently obvious, it's not often the case in Forex. I like to make sure setups applied mechanically have a positive expectancy, even a slight one, and then apply a bias on it. Otherwise, it would be one of those thousands and thousands of systems here with subjective rules, changed every day that gives negative expectancy in real trading in live accounts.
If we would have to apply the long term obvious bias, there would be no added value to a simple stochastic oscillator or a MA crossover.
{quote} I am not sure. I see a short on the daily with the same system.
Ignored
then if your set up comes from d1, then one has to become aware that it is counter trend trade, when compared to one or two time frames higher.
nothing wrong with that as long as one is aware of this situation of a lesser probability trade, and being consistent with your own trade set up.
