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need simple indicator for Daily green/red candle 2 replies

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Simple scalping system, all red or all green

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  • First Post: Edited 6:09am Jan 11, 2010 4:05am | Edited 6:09am
Look at the last candle of M5,M15,M30 and H1
If all green ,buy.
If all red ,sell.

The system works on many trades and good money managment.
Statistically, if you look at any chart ,there are more consequential candles than candles of opposite colors.
Try it demo.
Quoting Brb-Fraudin
good money managment.
What are TP/SL or any rules for exit?
Quoting Dezil
What are TP/SL or any rules for exit?
Since its a scalping system ,you should watch the movements and decide.

I mostly close manually at +15+20 pips,sometimes less. S/L should be -15 pips

Right now I have 2 trades with +10 pips each. I may close them and do it again on another pair.
Last closed or active candle?
If active at the beginning of an Hour for 5 min they will always be the same colour...
when do you buy? when 5min candle close green and all other still green, or ....?




Quoting Brb-Fraudin
Look at the last candle of M5,M15,M30 and H1
If all green ,buy.
If all red ,sell.

The system works on many trades and good money managment.
Statistically, if you look at any chart ,there are more consequential candles than candles of opposite colors.
Try it demo.
The last active candle for all.
interesting and original !
Very interesting approach ! Are you really making 10K a day or is that your goal ?
Hi
I used this kind of trading for some time. I used 1hr, 15 and 5 min. You can expand this to 4hr and daily. When all are lining up you can re-think your profit targets. Approx 60% of time (GU) will follow daily direction.
???? what is these all green and all red??? how come i did not see anything? thanks
Hi , so which is easier , switching time frames on currency window or opening up each window for each time frame .. seems like a lot of flipping charts to change currency pair or just flipping time frames .... do you miss out on some trades because of this ...? thanks ...buffalopip....
hi can anyone explain? i dun get what it means?
Quoting Brb-Fraudin
Look at the last candle of M5,M15,M30 and H1
If all green ,buy.
If all red ,sell.

The system works on many trades and good money managment.
Statistically, if you look at any chart ,there are more consequential candles than candles of opposite colors.
Try it demo.
Assuming you only trade on the closed candles, you only have 24 trade possibilities during the day.
Quoting Ronald Raygun
Assuming you only trade on the closed candles, you only have 24 trade possibilities during the day.
it has to be the closed candle otherwise at the top of each hour all the time frames would always line up.
Quoting Brb-Fraudin
The last active candle for all.

Does he mean closed or unclosed?? I don't even know anymore
Quoting KPForex
hi can anyone explain? i dun get what it means?
ok, i know what it means... but is it accurate for all pairs?
meaning:

say buying mode,

after H1 candle close (green)

look for M30, M15 and M5.

if all green then BUY....
Quoting magnumfreak
it has to be the closed candle otherwise at the top of each hour all the time frames would always line up.
RUBBISH. You can have a green(up) closed hourly candle, with the last 5min candle of that hour being red(down).
From what i interpret correctly, yes.... But i think we will need an alert for that... if not, it will takes time if we go TF by TF... Do you all agree?

Quoting zai7777
meaning:

say buying mode,

after H1 candle close (green)

look for M30, M15 and M5.

if all green then BUY....
Quoting TheGreatMilenko
RUBBISH. You can have a green(up) closed hourly candle, with the last 5min candle of that hour being red(down).
You need to learn how to read. I said at the top of each hour. This was assuming he is using current active candle.
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