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need simple indicator for Daily green/red candle 2 replies

MT4 candle-by-candle manual backtesting 9 replies

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Daily green/red candle

  • #3,681
  • Oct 3, 2017 1:36am Oct 3, 2017 1:36am
Quoting dimdel
{image}
Now you have break the rules!? Isnt?
  • #3,682
  • Oct 3, 2017 4:05am Oct 3, 2017 4:05am
Quoting mizi123
{quote} Now you have break the rules!? Isnt?
WHAT YOU MEAN?
  • #3,683
  • Oct 3, 2017 4:26am Oct 3, 2017 4:26am
Quoting dimdel
{quote} WHAT YOU MEAN?
My point was that the trade is not acording to rules if you enter on these candle
  • #3,684
  • Oct 3, 2017 4:42am Oct 3, 2017 4:42am
Quoting mizi123
{quote} My point was that the trade is not acording to rules if you enter on these candle
follow the color
this is the main rule and the initilal idea for the green red
  • #3,685
  • Oct 5, 2017 6:38am Oct 5, 2017 6:38am
Attached Image (click to enlarge)
Click to Enlarge Name: gj.png Size: 24 KB
  • #3,686
  • Oct 6, 2017 12:57am Oct 6, 2017 12:57am
Attached Image (click to enlarge)
Click to Enlarge Name: eu.png Size: 21 KB
  • #3,687
  • Oct 6, 2017 6:26am Oct 6, 2017 6:26am
From chart above

h4 time frames , with daily candles?

do you use an indicator to draw this daily candles?

if so could you share, please?


best wishes.
ReAl MoDe: ON
  • #3,688
  • Oct 7, 2017 12:17am Oct 7, 2017 12:17am
Quoting vicentis
From chart above h4 time frames , with daily candles? do you use an indicator to draw this daily candles? if so could you share, please? best wishes.
search to the attachments and download the " custom candles" , put 1440 in properties
  • #3,689
  • Oct 7, 2017 6:30am Oct 7, 2017 6:30am
Quoting dimdel
{quote} search to the attachments and download the " custom candles" , put 1440 in properties

thanks!

have a great weekend!
ReAl MoDe: ON
  • #3,690
  • Oct 8, 2017 5:48am Oct 8, 2017 5:48am
Attached Image (click to enlarge)
Click to Enlarge Name: gu.png Size: 20 KB
  • #3,691
  • Oct 8, 2017 6:21am Oct 8, 2017 6:21am
my friends
i have drink 4 ouzo now
so all carts are good for me
  • #3,692
  • Oct 9, 2017 8:25pm Oct 9, 2017 8:25pm
Hello Mr.Dimdel

I've impressed your simple strategy and backtesting now.
I'd like to ask noob questions. Thanks in advance.

How do you set TS at Fib 150 manually?
I guess point of this strategy is set and forget, but I don't have any idea how to set TS automatically in both MT4 and cTrader.

and how do you set your risk management in this strategy? set your max loss in each trade or total?
I'm really sorry for my poor english.

Thanks again
  • #3,693
  • Oct 10, 2017 6:31am Oct 10, 2017 6:31am
Quoting busted
Hello Mr.Dimdel I've impressed your simple strategy and backtesting now. I'd like to ask noob questions. Thanks in advance. How do you set TS at Fib 150 manually? I guess point of this strategy is set and forget, but I don't have any idea how to set TS automatically in both MT4 and cTrader. and how do you set your risk management in this strategy? set your max loss in each trade or total? I'm really sorry for my poor english. Thanks again
well
--no matter the candle size
just risk the same % for any candle
--the sl+tp+trsl must change the fibo properties

go on
  • #3,694
  • Oct 10, 2017 9:15am Oct 10, 2017 9:15am
Hello Busted. Trailing stop in MT4 is simple. If your 150% equals 50 pips, 'Right' click on trade in Terminal Window, then select 'Trailing Stop'. Then set Trailing Stop to 500 (which is equal to 50 pips).

The TS will Not begin until Price is 50 pips in profit, then the TS will follow tick by tick, the current price. So if you do not wish to have your TS continue to move with price, then 1. Turn off Trailing Stop by right clicking on trade in Terminal Window, and select 'None’, 2. Move your ‘Hard’ Stop Loss to at least break even.

Your MT4 Charts must be open, and on the profile which has your open trade, other wise the trailing stop will not be active.
Darryl
  • #3,695
  • Oct 10, 2017 9:41am Oct 10, 2017 9:41am
Backtesting:

It is always a good idea to back test a simple method such as this.

One thing to be aware of is 'How many 'Daily Candles' your broker shows.

Let me explain; If your broker has their Daily Candle openings at 1700 NY time (Currently 2100 GMT or 2200 GMT during US Day Light Savings time, Which begins the first Sunday in November, and ends the 2nd Sunday in March), then you will have 5 'Daily Candles' for each week.

However, should your broker change 'Daily Candles' at ANY other time, (Example, Oanda US time for current new 'Daily Candle' appears at 0400 GMT), you will have "6" 'Daily Candles' for each week.

Since I'm is US, and my only options for Brokers, are Oanda (my favorite due to their being Very honest) or Forex.com. So in order to find charts with only 5 'Daily Candles', I have a demo Account with Tradersway, which does accept US clients.

One other caveat in Backtesting; Every broker I've ever checked, that Currently has 5 'Daily Candles' each week, does not always use 5 for all of their history. So go back as far as you want to, BUT check to see what the number of 'Daily Candles' you find, year by year.
  • #3,696
  • Oct 10, 2017 9:47am Oct 10, 2017 9:47am
Dimdel, thank you very much for sharing this, even though you did not create this method, you still are willing to share with all, for which I am very thankful.

Whilst on the subject of Daily Candles, does your testing work using both 5 and 6 Daily Candles each week?
  • #3,697
  • Oct 10, 2017 12:03pm Oct 10, 2017 12:03pm
Dimdel. In looking at your current open trades (EU) I think I understand what you are doing. My question is why do you use such an imbalanced R:R? In current trades you are risking more than 3, to collect 1. 3:1 Risk to Reward.
  • #3,698
  • Oct 10, 2017 1:36pm Oct 10, 2017 1:36pm
Quoting diamonddbw
Dimdel. In looking at your current open trades (EU) I think I understand what you are doing. My question is why do you use such an imbalanced R:R? In current trades you are risking more than 3, to collect 1. 3:1 Risk to Reward.
hi diamond
well you are right for all you said

about backtesting its true.....
for my MM... well i use 2 or 3 orders depend from my filters
in first 2 orders i use 3:1 r/r but with equity protection so if the price move at least 2 pip then the sl go to the entry (+ spread)
the 3rd order i use 1/1 rr

thanks
dimdel
  • #3,699
  • Oct 10, 2017 3:59pm Oct 10, 2017 3:59pm
Quoting dimdel
{quote} hi diamond well you are right for all you said about backtesting its true..... for my MM... well i use 2 or 3 orders depend from my filters in first 2 orders i use 3:1 r/r but with equity protection so if the price move at least 2 pip then the sl go to the entry (+ spread) the 3rd order i use 1/1 rr thanks dimdel
+++++++++++++++++++++++

Thanks.

You obviously know what you are doing. I was just trying to make sense of the method you have been using, since the market opened this week.
  • #3,700
  • Oct 12, 2017 12:21am Oct 12, 2017 12:21am
Attached Image (click to enlarge)
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