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  • #301
  • May 18, 2018 11:42am May 18, 2018 11:42am
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, just one question. For a BUY signal, is it absolutely important for the previous candle to be a bearish candle, or it's ok for it to be a bullish candle as long as the signal candle fully engulfs it? Basically, must the two candles be opposing candles?
---
Edit: Just noticed after posting that ASW has the exact same concerns as I am. Once you answer him, I would've gotten my answer.
Simplicity Is The Ultimate Sophistication!
  • #302
  • May 18, 2018 1:36pm May 18, 2018 1:36pm
Buy signal
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Lets see how this develop btw ty Joseph for sharing your view on trading i apreciate.
  • #303
  • May 18, 2018 2:30pm May 18, 2018 2:30pm
Quoting Msmaximus
Buy signal{image} Lets see how this develop btw ty Joseph for sharing your view on trading i apreciate.
That's not a signal. Big green lower wick did not go beyond last candle low
  • #304
  • May 18, 2018 2:58pm May 18, 2018 2:58pm
Quoting cfudge
{quote} That's not a signal. Big green lower wick did not go beyond last candle low
ty mate i already saw it too, maibe i was tryng to force a trade
  • #305
  • May 18, 2018 3:34pm May 18, 2018 3:34pm
Just flipping through my charts and observing what may look like a valid setup on done pairs. Still about 30mins to candle close on my broker, though.
---
EURJPY D1 - Type 2 setup (SELL).
EURNZD W1 - Type 2 setup (SELL).
NZDJPY W1 - Type 2 setup (BUY).
EURCHF W1 - Type 2 setup (SELL).
EURUSD W1 - Type 2 setup (SELL)
---
Kindly note that the EURUSD & EURCHF setups still have unresolved issues as previous candle is same direction with signal candle.
---
BTW, EUR weakness seems to be the central theme from those setups.
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Simplicity Is The Ultimate Sophistication!
  • #306
  • May 18, 2018 7:31pm May 18, 2018 7:31pm
Thank you Joseph for sharing his trading method. I try to make it an indicator as shown below. The blue and red bars in the separate windows are bull and bear when the conditions for Type 1 / Type 2 are all met. Please note that I modify some other volume indicator so as to get this indicator promptly. So the indicators are nothing to do with Volume.

See whether the signals are correct. (Some of the signals might not have shadow significantly longer than the previous candlestick)
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  • #307
  • May 18, 2018 8:48pm May 18, 2018 8:48pm
Quoting Impenia
{quote} Hi Joseph, just one question. For a BUY signal, is it absolutely important for the previous candle to be a bearish candle, or it's ok for it to be a bullish candle
while waiting for his reply meanwhile ……..
did a search back --> can be same colour.

Type 1: https://www.forexfactory.com/showthr...4#post10996004
Type 2: https://www.forexfactory.com/showthread.php?p=11065365#post110653
ITB - Seeing Orderliness amongst 'Randomness'
  • #308
  • May 18, 2018 10:45pm May 18, 2018 10:45pm
Quoting Viking Nash
Thank you Joseph for sharing his trading method. I try to make it an indicator as shown below. The blue and red bars in the separate windows are bull and bear when the conditions for Type 1 / Type 2 are all met.
nice indicator. good for a quick look back.
does the first bullish type 2 candle closed above the previous bearish candle open? almost the same level can't really see. thanks
ITB - Seeing Orderliness amongst 'Randomness'
  • #309
  • May 18, 2018 11:36pm May 18, 2018 11:36pm
Quoting Asw
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
Hi Asw,

Please see post 309 by Inthebox. The previous candle and the signal candle can be of the same colour. I have seen that on live charts>

Thank you.
  • #310
  • May 18, 2018 11:45pm May 18, 2018 11:45pm
Quoting rajandaas
{quote} Hi Asw, Please see post 309 by Inthebox. The previous candle and the signal candle can be of the same colour. I have seen that on live charts> Thank you.


Hi Asw,

And if you are going to include setups where the the previous candle and the signal candle are of the same colour please upgrade the "Rejection Dashboard" indicator as well to include the additional setups (candles of the same colour)

Thank you
  • #311
  • May 19, 2018 2:54am May 19, 2018 2:54am
Why do U search turning points in a trend? U should continuation to search... turning points are at support and res levels. also technical zone + candle formation together says the reversal or breakout. but this is my opinion
  • #312
  • May 19, 2018 8:50am May 19, 2018 8:50am
Updated, dashboard, this one will do both type 1 and type 2 setups and anybar or opposite bar before signal bar.

Just press the buttons located on the footer of the dash.
Attached File(s)
File Type: ex4 Rejection_Dashboard_v1.1.ex4   47 KB | 424 downloads
  • #313
  • May 19, 2018 10:59am May 19, 2018 10:59am
Quoting Asw
Updated, dashboard, this one will do both type 1 and type 2 setups and anybar or opposite bar before signal bar. Just press the buttons located on the footer of the dash. {file}
Thank you so much.
Please take a look at Type 2 Signal Candle under any bar.
The direction of trade to be taken should be according to the signal candle colour. Buy colour should be green and long shadow below. Sell colour should be red and long shadow above.

At the moment the dashboard appears as follow.
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Attached Images
ITB - Seeing Orderliness amongst 'Randomness'
  • #314
  • Edited 1:17pm May 19, 2018 12:24pm | Edited 1:17pm
Quoting Inthebox
{quote} Thank you so much. Please take a look at Type 2 Signal Candle under any bar. The direction of trade to be taken should be according to the signal candle colour. Buy colour should be green and long shadow below. Sell colour should be red and long shadow above. At the moment the dashboard appears as follow. {image} {image} {image}

The signal would be before the last bar and that is the result of the signal.

The signal is correct, forget the last bar. the signal is 1 and 2 bars back.

Thanks for the feedback.
Asw
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  • #315
  • May 19, 2018 1:56pm May 19, 2018 1:56pm
Quoting Asw
{quote} The signal would be before the last bar and that is the result of the signal. The signal is correct, forget the last bar. the signal is 1 and 2 bars back. Thanks for the feedback. Asw {image}
Hi Asw, really appreciate you taking time out to code the indicators. However, just taking a look at the last chart you posted (with indicator arrows), I can observe that you need an extra condition in your logic (code).
---
For a sell signal, the signal candle MUST be bearish and vice versa. I can see sell arrows even when the signal candle was bullish. The CHFJPY H4 chart, you posted, I don't think that's a valid sell signal. It would only be a valid setup if the previous candle was bearish, therefore closing below open (for bullish bar) or close (for bearish bar).
---
Just my thoughts, though. I don't know if I'm correct. I hope Joseph will come and clarify when he has the time.
---
BTW, I did request for the mq4 file of the indicators (if you don't mind). I would love to play with some filters to see how the results would be.
---
EDIT: Could you add a user adjustable setting to chose which candle the signal appears? I usually prefer prefer SHIFT 1, where the arrow shows on the signal (previous candle).
Simplicity Is The Ultimate Sophistication!
  • #316
  • May 19, 2018 1:57pm May 19, 2018 1:57pm
Quoting Asw
{quote} The signal would be before the last bar and that is the result of the signal. The signal is correct, forget the last bar. the signal is 1 and 2 bars back. Thanks for the feedback. Asw {image}
my queries are in accordance to the 2nd last bar as signal candle. we are on the same page.
in the case of chfjpy h4, the dashboard gave a sell signal. I expect a red candle for sell instead of a green one.
in the case of eurgbp w1, the dashboard gave a buy signal. I expect green candle for buy instead of a red one.

hmnnn…… this is indeed unique as I can't find one from Joseph's previous examples.
I guess will have to leave it to Joseph for clarification.
ITB - Seeing Orderliness amongst 'Randomness'
  • #317
  • May 19, 2018 3:13pm May 19, 2018 3:13pm
Quoting Impenia
{quote} Hi Asw, really appreciate you taking time out to code the indicators. However, just taking a look at the last chart you posted (with indicator arrows), I can observe that you need an extra condition in your logic (code). --- For a sell signal, the signal candle MUST be bearish and vice versa. I can see sell arrows even when the signal candle was bullish. The CHFJPY H4 chart, you posted, I don't think that's a valid sell signal. It would only be a valid setup if the previous candle was bearish, therefore closing below open (for bullish bar)...


The Indicators coded to Joseph's spec, as I understand it, however, you are quite right, the signal in that case is not good, I'll add code to make it bearish or bullish.
With reference to the mq4 file , I don't share my code.

The signal arrives when it does, can't choose which bar it arrives on.

Asw

Asw
Attached File(s)
File Type: ex4 Rejection_Dashboard_v1.1.ex4   47 KB | 572 downloads
  • #318
  • May 20, 2018 2:22pm May 20, 2018 2:22pm
Quoting Inthebox
D1/W1 Chart 2 types of Bullish Signal Candle: Type 1: 1. Rejection of previous day low (better if signal candle has long shadow rejection) 2. Signal candle close above previous day high 3. Buy above signal candle high 4. 2 units: SL below signal candle low one unit TP equal to Signal candle range one unit BE then trailing stop Type 2: 1. If signal candle has all pre requisites as Type 1, but does not close above previous day high But it close above previous day open 2. Buy above previous day high Bearish Signal Candle vice versa
Oh Well Mr.Inthebox: You are not in a box really a very nice description about the signals clearly understood.
Could you please tell me one thing is it mandatory or important that current candle should must reject a previous day's high or low for sell or buy signal and should make a clear high or low signal more than previous candle and it should also close higher or lower than previous candle's close and open. i hope you are understanding high/low,close/open because i am asking for both cases. sell and buy.
in simple in a buy signal is it important that current day candle should go down to make a clear shadow or some down from previous day's low and then close higher than open or high?
Hope understood my question.
  • #319
  • May 20, 2018 2:27pm May 20, 2018 2:27pm
I would like to request MR. Joseph here to please put some live signals here being senior and export member and owner of the thread because whatever he knows and has experience regarding this strategy no body else can have. So Plz Mr.Joseph if you share signals because if you doing trading then you must have candles and currencies infront of your eyes which are clerly giving sings.
If you don't think that you should share your personal indications then currency pairs can be share which are making candles according to strategy.
Thank you very much...
  • #320
  • May 20, 2018 2:43pm May 20, 2018 2:43pm
Reply Please...
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