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Higher Edge within a Single Candlestick

  • #421
  • Jan 31, 2016 4:30pm Jan 31, 2016 4:30pm
Quoting The-Flipper
{quote} There is no edge in this stupid quote. You can say that silly thing for roulette: 95% of the time you will get either black or red. 5% of the time you will get the zero green. So move on.
A stupid quote indeed. 95% of time there will be candlesticks instead of dojis. Comon now !
  • #422
  • Feb 15, 2016 8:19am Feb 15, 2016 8:19am
Quoting alphaomega
Welcome to the next generation of technical analysis.:nerd: The oldest technical concept (the Candlestick) presented in a new way. The goal is to create the most efficient tool for scalping. Still in experimental stage, but if anyone is interested, this is the initial working version. {image} {image} {file}
Can you explain this indicator? when should enter and exit?
Thank you.
  • #423
  • Sep 13, 2016 3:07pm Sep 13, 2016 3:07pm
Quoting alphaomega
The definition of genius is taking the complex and making it simple. ― Albert Einstein It's true, that there is higher edge within a single candlestick! All this goes back to the old concept of reference points. It's a very simple, yet very effective technique to analyze the price action in real time. I have been using these methods for many years. (Some of you probably have seen my dynamic fibo grid, which is essentially based on the reference point concept ) But recently I have noticed that I rely more and more on the simple reference points...
this is amazing
  • #424
  • Jun 3, 2017 1:22pm Jun 3, 2017 1:22pm
Hello. I want to wake up this thread. I think I found that edge, you are talking about, it took me quite a long time to understand. I got 1pip expectancy per trade in ideal market(without slippage and increased spread). How do you deal with slippage? Because any larger slippage would kill that 1 pip expectancy. And what platform do you use to trade, MT4 or something else?
Thank you, IenDzi.
  • #425
  • Jun 20, 2017 9:35pm Jun 20, 2017 9:35pm
Quoting IenDzi
Hello. I want to wake up this thread. I think I found that edge, you are talking about, it took me quite a long time to understand. I got 1pip expectancy per trade in ideal market(without slippage and increased spread). How do you deal with slippage? Because any larger slippage would kill that 1 pip expectancy. And what platform do you use to trade, MT4 or something else? Thank you, IenDzi.
I think you have taken the idea and moved a little bit away from what is hinted at here. From my understanding it was about knowing movement occurs and that using a reference point was to gauge the current imbalance of bulls and bears. It sounds like your method is saying that when X, Y and Z occur then there is n% chance of 1 pip profit and that to reasonably profit from this idea all trades must be taken to grind out a net profit? I'm not saying that it's the wrong approach but in one of CP posts he stated that if a system must take all trades it's not a good system.
  • #426
  • Jul 11, 2017 8:14am Jul 11, 2017 8:14am
I got a logical mistake. I haven't found an edge yet. I tried various systems including OHLC data, but those systems, where linear. I was trying trade only after average wick size, average middle of candle, even trying to get minimum wick size and after that size in other direction enter the market. The results were the same. So I finally saw that any linear system won't work in this market.
Now I am trying to measure reference point as imbalance. What I got: Average(Open-Close) is going to 0. And Average (High-Open) == Average (Open-Low). I am thinking what can I do next with these stats.
  • #427
  • Aug 16, 2017 2:00pm Aug 16, 2017 2:00pm
you guys are drowning in a glass of water

Range bars.. thats all im gona say
  • #428
  • Aug 16, 2017 3:30pm Aug 16, 2017 3:30pm
Quoting havo
you guys are drowning in a glass of water Range bars.. thats all im gona say
can you explain a little more
  • #429
  • Aug 18, 2017 10:06am Aug 18, 2017 10:06am
Quoting metta87
{quote} can you explain a little more
the "higher edge in a single candlestick" its in the wicks AND what it could happen in the next bar if this one fails to make a lower/higher wick and what price do after that (think about it and watch it on any chart)

Range bars you can see the edge even more clear.. once you know it
  • #430
  • Aug 18, 2017 11:36am Aug 18, 2017 11:36am
Quoting havo
{quote} the "higher edge in a single candlestick" its in the wicks AND what it could happen in the next bar if this one fails to make a lower/higher wick and what price do after that (think about it and watch it on any chart) Range bars you can see the edge even more clear.. once you know it
What do you see in range bars that you don't see in regular bars?
  • #431
  • Aug 18, 2017 1:25pm Aug 18, 2017 1:25pm
Quoting havo
{quote} the "higher edge in a single candlestick" its in the wicks AND what it could happen in the next bar if this one fails to make a lower/higher wick and what price do after that (think about it and watch it on any chart) Range bars you can see the edge even more clear.. once you know it
Hi,
Do you have any stats for that edge in your example?
I tried a lot of combinations to get the edge with a single candlestick, but with no success.
And I coded your example: tried, when candle did the wick < x pips and retest open, open trade in candle body's direction. After that tried when candle did the wick < x pips and did body > x pips, open trade in candle body's direction. Tried a lot of similar and logical things, but didn't get any edge from this.
IenDzi.
  • #432
  • Aug 18, 2017 2:44pm Aug 18, 2017 2:44pm
Quoting IenDzi
{quote} Hi, Do you have any stats for that edge in your example? I tried a lot of combinations to get the edge with a single candlestick, but with no success. And I coded your example: tried, when candle did the wick < x pips and retest open, open trade in candle body's direction. After that tried when candle did the wick < x pips and did body > x pips, open trade in candle body's direction. Tried a lot of similar and logical things, but didn't get any edge from this. IenDzi.
1 candlestick can give you info for what could possible happens with the next one.. in certain conditions; its easy to see once you get it (i dont want to sound like an idiot but you need to see it.. not writing a code, WATCH IT on the chart, its just a temporal price inbalance)

focus on the wicks and open price and see where it goes
  • #433
  • Sep 13, 2017 3:35pm Sep 13, 2017 3:35pm
Quoting havo
{quote} 1 candlestick can give you info for what could possible happens with the next one.. in certain conditions; its easy to see once you get it (i dont want to sound like an idiot but you need to see it.. not writing a code, WATCH IT on the chart, its just a temporal price inbalance) focus on the wicks and open price and see where it goes
hey havo can you show some charts please ?
  • #434
  • Sep 19, 2017 2:19pm Sep 19, 2017 2:19pm
I understand that the crucial point is trade (money management). Do you manage the trade by some backtest statistics? Or do you simulate all price movements and from that you create money management?
  • #435
  • Sep 20, 2017 6:26am Sep 20, 2017 6:26am
Quoting Anusragger
{quote}What do you see in range bars that you don't see in regular bars?
I guess the answer is here:

Attached Image (click to enlarge)
Click to Enlarge Name: Range Bar.png Size: 12 KB


Perhaps, it's not about what we see in range bars and don't see in regular bars, but conversely what we don't see in range bars.

Havo said that "it's in the wicks" and that it's easier to see the edge on range bars chart. Since range bar can have only one wick then it (probably) makes sense what we should look at and why it's easier with range bars than with standard bars/Japanese candles.

This is just my assumption, of course - I don't know the exact answer.
Let's go with the flow
  • #436
  • Sep 20, 2017 7:57am Sep 20, 2017 7:57am
Quoting artem_t
{quote} I guess the answer is here: {image} Perhaps, it's not about what we see in range bars and don't see in regular bars, but conversely what we don't see in range bars. Havo said that "it's in the wicks" and that it's easier to see the edge on range bars chart. Since range bar can have only one wick then it (probably) makes sense what we should look at and why it's easier with range bars than with standard bars/Japanese candles. This is just my assumption, of course - I don't know the exact answer.
EXACTLY THIS

keep going you are almost there =) in fact im gona give you a hint; there its a 3 bar formation with range bars that always lead to a move in 1 direction
  • #437
  • Sep 20, 2017 10:05am Sep 20, 2017 10:05am
Quoting artem_t
{quote}......Since range bar can have only one wick then it (probably) makes sense........
Dear Artem,

In my chart the Renko Bar has two wicks, did i set the setting incorrectly?

Thanks
Attached Image (click to enlarge)
Click to Enlarge Name: double.jpg Size: 110 KB
  • #438
  • Sep 20, 2017 10:11am Sep 20, 2017 10:11am
Quoting mav3n
{quote} Dear Artem, In my chart the Renko Bar has two wicks, did i set the setting incorrectly? Thanks {image}
Hi!

You're showing Renko bars while I was talking about Range bars - they are different. Renko bars don't have wicks at all.

As for Renko, I think your settings are ok as no bars have any wicks except only the current one. So you have to wait till this candle is completely formed and those wicks should disappear.

Regards,
Artem
Let's go with the flow
  • #439
  • Sep 20, 2017 10:15am Sep 20, 2017 10:15am
Quoting artem_t
{quote} Hi! You're showing Renko bars while I was talking about Range bars - they are different. Renko bars don't have wicks at all. As for Renko, I think your settings are ok as no bars have any wicks except only the current one. So you have to wait till this candle is completely formed and those wicks should disappear. Regards, Artem
Oops! Sorry Artem! I always think that Renko and Range Bars are the same. I will look for the information about the Range Bars thanks
  • #440
  • Sep 20, 2017 10:33am Sep 20, 2017 10:33am
Quoting mav3n
{quote} Oops! Sorry Artem! I always think that Renko and Range Bars are the same. I will look for the information about the Range Bars thanks
No need to sorry - no problem at all
Let's go with the flow
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