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  • #281
  • May 17, 2018 3:18pm May 17, 2018 3:18pm
Dashboard type 1 works all great, i'll keep an eye for the type 2 if it occurs.

In addition, i'm making an in-depth backtest for stop loss / takeprofit potentioals

How will it be done?

1) I use the stop loss rule of joseph for each trade, SL at HH / LL of signal candle

2) Trying to identify the best posibble scenario to take profits,
I'm doing by this monitoring the daily entries on 4 HR Chart, checking it if retraces back to where position is placed or not, is it a good idea to have a trail stop loss or not,

SO FAR, taking the loses at normal stop loss & letting the winners let run looks like the best option, why? Well, the winning ones run for 110-500+ Pips, i'm assuming a good math of 2 positions sized with %66-%33 portion (%66 is taken after 100+pips profit, and letting the %33 run for 200+ would be a nice approach) In fact, all of the entries have a tendency to really run for 100+ pips, 200+ and 500+. Yes it is posibble!

About SL ; Since the entry accurracy is quite high, and stop loss is some sort of tight ( usually 60-100 pips) i think it's a nice strategy to not use any trail stop loss or any kind, and just let the position run.

I'll completly simulate this on few pairs for the past year, and share the results with you here.

Best Regards.
  • #282
  • May 17, 2018 3:42pm May 17, 2018 3:42pm
Quoting xShape
Well, it's not like x crosses y, you put your sl at 50-100 pips w/e and then hop for 50-150+ pips systems, You can lose 3 in a row,( whichs not even posibble according to my daily backtests). But once you pick the right direction, it'll cover up 10+ Loses. Even with a low win rate, i see this working. Although, the win rate is suprisingly high. Thanks again for sharing your idea joseph. AUD/JPY last buy setup +40 Pips and running, worst scenario just BE it, be creative. And hold your winning ones, huge potentional to grow on daily chart before the...
Awesome work XShape and very useful tips. Thank you

Tomorrow i’ll Update the first post with all good considerations you did guys Great work
  • #283
  • May 17, 2018 3:54pm May 17, 2018 3:54pm
Quoting david7
{quote} @Joseph like I said I want to contribute. The reason why I was asking for confirmation was because your english isnt perfect(neither is mine) so sometimes details get lost in translation, eventhough you gave alot of clear screenshots. I'm not lazy, I've read every page, especially the first 2 several times, but still can happen that I overlook important information. I want to do a solid backtest, therefore I want to be sure. Anyway I appreciate and I think this entry method has a good potential. I didnt had much time for testing, but...


The signal candle must have always a longer shadow compared to the previous day/week/month; if it doesn’t have longer shadow, simply it isn’t a valid setup
  • #284
  • May 17, 2018 4:17pm May 17, 2018 4:17pm
Quoting Joseph95
{quote} The signal candle must have always a longer shadow compared to the previous day/week/month; if it doesn’t have longer shadow, simply it isn’t a valid setup

Are we talking about Type 2 or Type 1 ?

Which shadow? also, top or bottom, can you give me an example, please.
  • #285
  • May 17, 2018 5:14pm May 17, 2018 5:14pm
The method used ;

1 ) After the trade is taken, SL is placed and left untouched. ( Which is signal candle High / Low )
2 ) Type '' 1 '' Setups are traded, Type 2's are really rare or either i wasnt able to notice them.
3 ) Backtests contain 1 year range, on the daily chart.

Insights :
If the entry is accurate, it literally runs for 100+ pips profit according to the backtests.

Suggestions about SL: No point to use stop loss higher than 100 pips, some shadows on the signal candles can be really huge, in fact it doesnt retrace back after a 100 pip. Hence, i'd suggest using a FIX SL of 100 pips on the signal candles which are normally higher than 100+ pips. If it's not >100, use the regular High / Low SL. ( Can be 60-70-80 w/e).

Suggestions about TP: Since we run for a 100+ pip run everytime we are accurate, I'd say it's a good option to get in with 2 positions, 2.00 Lot's to take profit at 100 pips, and another 1.00 position running for 150 - 1000 pips, ( Do your own profit taking technique just in this case).
Attached Image (click to enlarge)
Click to Enlarge Name: asd123.jpg Size: 150 KB
  • #286
  • May 17, 2018 8:46pm May 17, 2018 8:46pm
Quoting Asw
{quote} Okay, try this Type 2 version. {file}
Hi AWS. Thanks for the dashboard. Very helpful. Does the Rejection_Dashboard_v1.0t2 identify both Type 1 and Type 2 or just Type 2?
  • #287
  • May 17, 2018 9:57pm May 17, 2018 9:57pm
Quoting Hambone
{quote} Hi AWS. Thanks for the dashboard. Very helpful. Does the Rejection_Dashboard_v1.0t2 identify both Type 1 and Type 2 or just Type 2?
its for type2 , you should have the other one aswell.
  • #288
  • May 17, 2018 10:17pm May 17, 2018 10:17pm
Here is my backtest for long position only of EU in D1.
Attached File(s)
File Type: xlsx Back test.xlsx   11 KB | 251 downloads
  • #289
  • Edited 11:56pm May 17, 2018 11:38pm | Edited 11:56pm
I don’t know anymore how to explain it. This is the last time, seriously, there are 20+ examples.

Type 1 (Bullish)

We have 2 candles.

One Red and one Green.
If the green has a downLONGER shadow compared to the previous candle low

and then

CLOSE above the previous candle high, we have a type 1 signal

Type 2 (always bullish)

We have two candles. One red and one green.
If the green has a downLONGER shadow compared to the previous candle low and DOESN’T CLOSE ABOVE THE PREVIOUS DAY HIGH BUT close ABOVE THE OPEN -because is red isn’t it?- (If the previous candle was green, that was the CLOSE) here we have type 2 signal
  • #290
  • Edited 4:32am May 18, 2018 2:28am | Edited 4:32am
Quoting Joseph95
I don’t know anymore how to explain it. This is the last time, seriously, there are 20+ examples. Type 1 (Bullish) We have 2 candles. One Red and one Green. If the green has a downLONGER shadow compared to the previous candle low and then CLOSE above the previous candle high, we have a type 1 signal Type 2 (always bullish) We have two candles. One red and one green. If the green has a downLONGER shadow compared to the previous candle low and DOESN’T CLOSE ABOVE THE PREVIOUS DAY HIGH BUT close ABOVE THE OPEN -because is red isn’t it?- (If the previous...

Here are the dashboards, coded to your instructions.

I've fixed a bug in the dashboards, so best re-download.
Attached File(s)
File Type: tpl dashboard.tpl   104 KB | 431 downloads
File Type: ex4 Rejection_Dashboard_v1.0.ex4   43 KB | 382 downloads
File Type: ex4 Rejection_Dashboard_v1.0t2.ex4   43 KB | 444 downloads
  • #291
  • May 18, 2018 4:17am May 18, 2018 4:17am
Quoting Asw
{quote} Here are the dashboards, coded to your instructions. {file} {file} {file}
Mind sharing the mq4 files?
Simplicity Is The Ultimate Sophistication!
  • #292
  • May 18, 2018 4:22am May 18, 2018 4:22am
Quoting Asw
{quote} Here are the dashboards, coded to your instructions. {file} {file} {file}

Hi Asw.

Could the dashboards be coded for the 4-hour time frame.

Would be much appreciated
  • #293
  • May 18, 2018 4:46am May 18, 2018 4:46am
Quoting Joseph95
I don’t know anymore how to explain it. This is the last time, seriously, there are 20+ examples. Type 1 (Bullish) We have 2 candles. One Red and one Green. If the green has a downLONGER shadow compared to the previous candle low and then CLOSE above the previous candle high, we have a type 1 signal Type 2 (always bullish) We have two candles. One red and one green. If the green has a downLONGER shadow compared to the previous candle low and DOESN’T CLOSE ABOVE THE PREVIOUS DAY HIGH BUT close ABOVE THE OPEN -because is red isn’t it?- (If the previous...
hi joseph. if you don't mind and don't take my suggestion or request wrong then why don't you give a signal for some day just 1 or 2 signals with currencies i.e. previous two candles were this, this so now candle will be this this?
so that we can also guess it very well and understand with perfection...
Thank you very much...
  • #294
  • Edited 8:51am May 18, 2018 5:01am | Edited 8:51am
Here are 2 indicators, so you can visually backtest.

Target TP is setup at 0.786% of the average daily range, you can change this setting to what ever you require.
Attached File(s)
File Type: ex4 Rejection_v1.03.ex4   33 KB | 460 downloads
File Type: ex4 Rejection_v1.03_Type_2.ex4   33 KB | 430 downloads
  • #295
  • May 18, 2018 5:02am May 18, 2018 5:02am
Quoting rajandaas
{quote} Hi Asw. Could the dashboards be coded for the 4-hour time frame. Would be much appreciated
It does H4 timeframes too.
  • #296
  • May 18, 2018 5:38am May 18, 2018 5:38am
Quoting Daaimali
{quote} hi joseph. if you don't mind and don't take my suggestion or request wrong then why don't you give a signal for some day just 1 or 2 signals with currencies i.e. previous two candles were this, this so now candle will be this this? so that we can also guess it very well and understand with perfection... Thank you very much...
If you go on UJ D1 chart you will find several setups from the last 1-2 months. Its current data, not 3 years old or something. You can also watch this post for explanation...

https://www.forexfactory.com/showthr...5#post10701995

Quoting xShape
Suggestions about SL: No point to use stop loss higher than 100 pips, some shadows on the signal candles can be really huge, in fact it doesnt retrace back after a 100 pip.
I agree. I had similar ideas. Reducing the SL will bring alot. Either a fix one or we say SL at 80% of the candle for example. But to figure out whats the best SL, we would need to see more losing trades.
With tighter SL the lotsize and so the profit will increase.
  • #297
  • May 18, 2018 5:45am May 18, 2018 5:45am
Quoting Asw
{quote} It does H4 timeframes too.

Oh, okay. Will check it out. Thanks a zillion
  • #298
  • May 18, 2018 5:57am May 18, 2018 5:57am
Quoting Asw
Here are 2 indicators, so you can visually backtest. {file} {file}
Thank you ASW. These are great helps!
  • #299
  • May 18, 2018 8:06am May 18, 2018 8:06am
DE30 seems a good candidate for a short set up next week.
  • #300
  • May 18, 2018 9:22am May 18, 2018 9:22am
Hello Joseph,

I've been though the thread and checked out your examples on the images you have posted.
On a lot of there are no opposite candle before the signal bar(Bearish before a Bullish and Bullish before a Bearish).

The dashboard is coded to have an opposite bar before the signal bar, is that correct or can there be a bullish bar before a bullish bar and a bearish bar before a bearish signal bar??

I'm not a dumb s-it, just like things to be right.

Asw
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