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Price Action System/Indicator

  • #21
  • Oct 14, 2017 8:49am Oct 14, 2017 8:49am
Quoting zoheb01
{quote} Thanks simnz. My objective is very simple...to create an all in price action indicator with the best candlestick formation patterns. I could create this without any input however, there are many good traders, people on this forum that can contribute ideas and feedback. I also want to provide value to people and share what I have created. Can this be converted into an EA? Of course, but I'm not thinking about that at the moment. I want to make the best indicator as possible that will help me and others who trade price action. Good luck on...
Need input without posting mql? Good luck to you.
Practice makes a person perfect
  • #22
  • Oct 14, 2017 9:48am Oct 14, 2017 9:48am
Quoting simnz
{quote} Need input without posting mql? Good luck to you.
simnz, if you are a coder you dont need mql as the idea behind this indicator is clear. you can write an indi or ea based on the criteria given.
  • #23
  • Oct 14, 2017 11:49am Oct 14, 2017 11:49am
Brilliant explanation and system. Looking forward to your next indicator. Walter Peters is a great trader so this indicator is a great enhancement to the kangaroo method.Btk
  • #24
  • Oct 14, 2017 2:17pm Oct 14, 2017 2:17pm
Quoting btkelly
Brilliant explanation and system. Looking forward to your next indicator. Walter Peters is a great trader so this indicator is a great enhancement to the kangaroo method.Btk
Love this indicator and video
Thanks for posting...breath of fresh air.
  • #25
  • Oct 15, 2017 8:42am Oct 15, 2017 8:42am
Quoting hibra68
{quote} simnz, if you are a coder you dont need mql as the idea behind this indicator is clear. you can write an indi or ea based on the criteria given.
Well said hibra68
Never stop investing. Never stop improving. Never stop doing something new
  • #26
  • Oct 15, 2017 8:45am Oct 15, 2017 8:45am
Quoting btkelly
Brilliant explanation and system. Looking forward to your next indicator. Walter Peters is a great trader so this indicator is a great enhancement to the kangaroo method.Btk
Thanks buddy. Yea I follow Walter's his channel and podcast. Looking at his patterns for future releases
Never stop investing. Never stop improving. Never stop doing something new
  • #27
  • Oct 15, 2017 8:46am Oct 15, 2017 8:46am
Quoting cfudge
{quote} Love this indicator and video Thanks for posting...breath of fresh air.
Appreciate cfudge. I'm currently producing a new video on the ways to trade the Pin bar using this indicator. Watch out for it.
Never stop investing. Never stop improving. Never stop doing something new
  • #28
  • Oct 15, 2017 12:58pm Oct 15, 2017 12:58pm
Interesting video and approach. There may be other uses for this such as profit taking rather than reversal spotting - just a thought

he who picks bottoms gets stinky fingers
https://linktr.ee/Soultrader
  • #29
  • Oct 15, 2017 2:00pm Oct 15, 2017 2:00pm
Quoting zoheb01
{quote} Well said hibra68
I am not a coder. I am a trader. Zoheb01 claims he has posted the indicator to get inputs from coders and trader.
So his intention is suspect .
Everybody posts mql if they are keen on getting inputs.
Anyway, he is welcome to do whatever he wants but should drop pretensions of inviting input from readers and stick to his agenda - whatever it may be.
I wasted my time taking his request for input seriously.
Practice makes a person perfect
  • #30
  • Oct 15, 2017 3:34pm Oct 15, 2017 3:34pm
So I am going to throw this out there and see what reactions I get...good/bad, either way the proof shall be in the forward tests.

I have done some visual tests on EU GU UC UJ UCHF and gold on the daily charts.

What I intend on doing is once a pin shows up and meets my set file (see pic) I will open at market and have a TP of 8 pips, allowing 2 pips for spreads. There will not be a SL because most time the top of the pin is strong res/sup. I will start by combatting any DD by closing the trade after 3 candles if TP not hit. What I notice is the times that 8 pips are not hit usually within 1 or 2 candles it is hit.
I have an idea about managing it if it goes against me but will hold that thought for just now and see where I get.
Attached Image (click to enlarge)
Click to Enlarge Name: pin setfile.jpg Size: 68 KB
  • #31
  • Oct 15, 2017 4:10pm Oct 15, 2017 4:10pm
cfudge

Make sure that the signal is used at S/R and not just at any price level.
  • #32
  • Oct 15, 2017 4:16pm Oct 15, 2017 4:16pm
Quoting pakeha
cfudge Make sure that the signal is used at S/R and not just at any price level.
Thanks, but not cross referencing directly with S/R for confirmation as I think the set file settings are enough of a confirmation and should be at S/R.
  • #33
  • Oct 15, 2017 4:30pm Oct 15, 2017 4:30pm
Hi Zoheb01, great job, congratulations. Does it exist a version for TSII? Many thanks!
  • #34
  • Oct 16, 2017 10:26am Oct 16, 2017 10:26am
Quoting soultrader
Interesting video and approach. There may be other uses for this such as profit taking rather than reversal spotting - just a thought he who picks bottoms gets stinky fingers
Completely agree with you! I'll probably do a video on it.

Thanks for your input
Never stop investing. Never stop improving. Never stop doing something new
  • #35
  • Oct 16, 2017 10:30am Oct 16, 2017 10:30am
Quoting cfudge
So I am going to throw this out there and see what reactions I get...good/bad, either way the proof shall be in the forward tests. I have done some visual tests on EU GU UC UJ UCHF and gold on the daily charts. What I intend on doing is once a pin shows up and meets my set file (see pic) I will open at market and have a TP of 8 pips, allowing 2 pips for spreads. There will not be a SL because most time the top of the pin is strong res/sup. I will start by combatting any DD by closing the trade after 3 candles if TP not hit. What I notice is the...
I believe that your approach is more of a time based stop. I normally use the rule when trading pinbars - if not in profit by x number of bars after pin bar then close the trade. If I am in profit I normally move stop to BE and look for a logically exit.

Glad to see you are finding it useful.
Never stop investing. Never stop improving. Never stop doing something new
  • #36
  • Oct 16, 2017 10:32am Oct 16, 2017 10:32am
Quoting baccicin
Hi Zoheb01, great job, congratulations. Does it exist a version for TSII? Many thanks!
I am guessing you are referring to trade station? Not at the moment as I only use MT4 however, if there is demand for it...I'll happy explore it.
Never stop investing. Never stop improving. Never stop doing something new
  • #37
  • Oct 16, 2017 10:35am Oct 16, 2017 10:35am
Hey guys,

Thanks for your comments and feedback, really appreciate it.

I've created a video showing 4 ways that I like to trade Pin bars. They are:

1) Moving Average Pullback (Continuation of trend)
2) Bollinger Bands (Reversal)
3) Support and Resistance (Reversal)
4) Price Rejection - Room to the left (Reversal

Sorry if I waffle in the video, still learning talking to myself hahah. I will produce a pictorial view of the 4 examples in the video tomorrow.

Inserted Video


Thanks,
Zoheb.
Never stop investing. Never stop improving. Never stop doing something new
  • #38
  • Oct 16, 2017 12:19pm Oct 16, 2017 12:19pm
Price Action , is all what forex is about
  • #39
  • Oct 16, 2017 4:25pm Oct 16, 2017 4:25pm
Hi, Can I get the mt4 indicator for download please
  • #40
  • Oct 16, 2017 4:58pm Oct 16, 2017 4:58pm
I cant get this ex4 file to work on mt4, do you have the MQL file

p.s. great work Zoheb
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