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Attachments: 2 Bar Reversal Scalp
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2 Bar Reversal Scalp

  • #21
  • Jun 26, 2018 12:27pm Jun 26, 2018 12:27pm
rarely to find on daily charts or longer time frames
All Things Are Possible
  • #22
  • Jun 26, 2018 1:06pm Jun 26, 2018 1:06pm
Interesting approach! I have tested this pattern with MT5. These are the results, one year back on GBPJPY M15. It fails in 2017 completely, but seems to become a slight edge in 2018. Also seems to work best arround london close. Full tester report:
http://shop.getyournet.ch/Content/Im...r-9844018.html
Attached Image (click to enlarge)
Click to Enlarge Name: ReportTester-9844018.png Size: 8 KB
  • #23
  • Jun 26, 2018 1:17pm Jun 26, 2018 1:17pm
Quoting Retep
Interesting approach! I have tested this pattern with MT5. These are the results, one year back on GBPJPY M15. It fails in 2017 completely, but seems to become a slight edge in 2018. Also seems to work best arround london close. Full tester report: http://shop.getyournet.ch/Content/Im...r-9844018.html {image}
I'm not questioning your work, but I would want to know if you used all examples or just specific ones? That is to say, I would argue that 2BRs taken in "air" do not have the same edge as 2BRs taken at Support/Resistance lines or in Supply/Demand zones. I contend the example below has an inherent edge over all those that appear randomly on a chart.

Attached Image (click to enlarge)
Click to Enlarge Name: OBOS 7.jpg Size: 174 KB


Don't get me wrong, the basic pattern may not be very reliable. But unreliable patterns taken in the right place still have a slight edge over unreliable patterns taken anywhere they appear.
Without VSA, you're playing checkers while the Smart Money plays chess.
  • #24
  • Jun 26, 2018 1:32pm Jun 26, 2018 1:32pm
Quoting HiddenGap
{quote} ...but I would want to know if you used all examples or just specific ones? ...
All, based on the rules described by Harry in his first post. Code is available if someone is interested - MT5 only and it's a quick and dirty tester mess
  • #25
  • Jun 26, 2018 7:48pm Jun 26, 2018 7:48pm
Some interesting points raised. I encourage anyone to code this strategy and optimise the rules as best they can. As mentioned, I'd be interested to know the overall success if there was a set 5 pips take profit rather than using the risk in pips from high/low and close of bar 1.

Another filter I have briefly looked at is the addition of bollinger bands set at 14 and 1 deviation. Bar 1's close (preferably open and close) and Bar 2's open AND close should all be under or touching the lower BB for a buy and above or touching the upper BB for a short.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: scalp bb example 1.JPG Size: 53 KB
Click to Enlarge Name: scalp bb example 2.JPG Size: 62 KB
  • #26
  • Jun 26, 2018 9:32pm Jun 26, 2018 9:32pm
Hi I dont want to distract too much from the thread but since you introduced BB. Some people are having great success at identifying what they call "EXTREME" situation in BB. I wont go too much into it as that thread was moved to commercial and it involves a lot more than just the "extreme". I just wanted to infuse it into your system with my variation.

indicators: Bollinger Bands/ standard inputs.
Moving average/ 5 linear weigheted applied to high and 5 linear weighted applied to low.

Same rules as yours Harry with a little difference:

This is for sells, just reverse for buys.

1: wait for 5 lw moving average high to go out of the top BB. (this is referred to as "extreme" meaning the price is at an extreme so there is possibility of reverse in market)
2: we wait for a bullish candle to close and than a bearish candle to close with its high higher than the last 5 candles.(this is per your rules but I will add one more filter)
3: now we wait for the next candle(the 3rd candle) to close. The 3rd candle must be a bearish candle as well and its high must be lower than the previous bearish candles high. Preferrably much lower.
4: we go short at the open of the 4th candle, Our sl is at the high of the 2nd(bearish) candle.
Our take profits:

1: 1 to 1 RR
2: 1 to 2 RR
3: tp at the touch of 5 lw moving average low.
4: tp at the touch of mid BB
5: trail your sl as you wish.

P.S. If you want to be picky add another filter: The second bar(the bearish signal bar) must have more than 50% of its body above top BB.
By adding this extra filter I think we can take trades where the signal bar could be a bullish candle as well not only bearish(this is for sells)
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD_M15.png Size: 65 KB
  • #27
  • Jun 27, 2018 2:12am Jun 27, 2018 2:12am
Quoting hibra68
Hi I dont want to distract too much from the thread but since you introduced BB. Some people are having great success at identifying what they call "EXTREME" situation in BB. I wont go too much into it as that thread was moved to commercial and it involves a lot more than just the "extreme". I just wanted to infuse it into your system with my variation. indicators:
Thanks hibra68, I actually have a BB idea based on extremes which Im hoing to post latet todsy as a new system. Ill see if the idea you've presented can be used as part if it
  • #28
  • Jun 27, 2018 3:50am Jun 27, 2018 3:50am
Quoting HarryPlopper
... As mentioned, I'd be interested to know the overall success if there was a set 5 pips take profit rather than using the risk in pips from high/low and close of bar 1 ... {image} {image}
Done. The winn rate rises to 57%, but the overall performance drops significant.
  • #29
  • Jun 27, 2018 4:32am Jun 27, 2018 4:32am
Quoting Retep
{quote} Done. The winn rate rises to 57%, but the overall performance drops significant.

Thanks very much Retep. I wonder if others could verify these results or have similar success?
  • #30
  • Jun 27, 2018 4:35am Jun 27, 2018 4:35am
Thanks again hibra68. On closer inspection that is quite a nice filter. How many trades a day/week and what pairs are people having success with?
  • #31
  • Jun 27, 2018 6:28am Jun 27, 2018 6:28am
Quoting diamonddbw
Curious to see your take on this situation. (btw, I see this on many H1 & H4 charts, of all pairs) {image}
in theory it looks good. The challenge would be when the spike up occurred. Cos if you look at the next two candles it would have been profitable. Depending on when the spike up occurred and what the S/L was.
  • #32
  • Jun 27, 2018 7:16am Jun 27, 2018 7:16am
Quoting HarryPlopper
{quote} Thanks again hibra68. On closer inspection that is quite a nice filter. How many trades a day/week and what pairs are people having success with?
Its hard to tell, anyway its just one of their setups.
Its called an extreme sell when 5 lnw ma goes above top bb. You dont just sell though, you wait for a bearish bar to close than the price must go up to retest the close of the previous bullish bar thats when you go short, and you must tp at either 5 lnw ma low or 10 lnw ma low or mid bb. The safest is 5 lnw ma low.
And it goes on and on.
The price than is expected to go up again and if its not able to break above top bb again its called market losing volume (mhv) which is anothet setup.
Later when price breaks below 5,10 lnw ma and mid bb its called candle stick direction ( csd) which is a signal not a setup.
Than there are more filters where you do top down analysis using different tf, monthly all the way down to 1min if you want.

The thread was moved to commercial srction, i think its called oma ally bbma.
But i followed them through telegram "bbma english"
My problem with the system is the original is in english and translation is bad. And the system gets vague at certain areas. But the telegram channel everyone must post in english so they have memberz posting their trades and theyll help you. They also have english translation of pdf explaining system.
  • #33
  • Jun 27, 2018 3:36pm Jun 27, 2018 3:36pm
How is it possible to be invited in this telegram channel BBMA?
  • #34
  • Jun 27, 2018 5:40pm Jun 27, 2018 5:40pm
Quoting flashpaul
How is it possible to be invited in this telegram channel BBMA?
If you have telegram just search for bbma english and join
  • #35
  • Jun 27, 2018 5:56pm Jun 27, 2018 5:56pm
Quoting hibra68
{quote} Its hard to tell, anyway its just one of their setups. Its called an extreme sell when 5 lnw ma goes above top bb. You dont just sell though, you wait for a bearish bar to close than the price must go up to retest the close of the previous bullish bar thats when you go short, and you must tp at either 5 lnw ma low or 10 lnw ma low or mid bb. The safest is 5 lnw ma low. And it goes on and on. The price than is expected to go up again and if its not able to break above top bb again its called market losing volume (mhv) which is anothet setup....
This link has a reasonable explanation of the system...

https://steemit.com/bitcoin/@akb47/u...-bbma-oma-ally
  • #36
  • Jun 27, 2018 5:58pm Jun 27, 2018 5:58pm
Quoting ranger_lp
{quote} This link has a reasonable explanation of the system... https://steemit.com/bitcoin/@akb47/u...-bbma-oma-ally
I think they changed the system a bit.

I dont think csd and csm are for entries anymore but as signals
  • #37
  • Edited 4:19pm Jun 28, 2018 4:03pm | Edited 4:19pm
Quoting HarryPlopper
Have just ntify Bar 1 and Bar 2. For a buy, B1 must be a bearish bar. at. {image}
can you write (code) entry signal buy and entry signal sell .?

Close[2] > Open[2] && Close[1] < Open[1] and so on

Once we have the signal we add 2 function : open_buy and open sell whit the stoploss and that's it
  • #38
  • Jun 29, 2018 2:21am Jun 29, 2018 2:21am
here is the new version
Attached File(s)
File Type: ex4 2 Bar Reversal Scalp v2.ex4   6 KB | 878 downloads
  • #39
  • Edited 2:45am Jun 29, 2018 2:31am | Edited 2:45am
Your entrys are not good (2) corrected

The system will give only false signal in up trend or down trend,

This is why you posted exemple in ranging market
Attached File(s)
File Type: mq4 Break_Line_5.mq4   5 KB | 1,066 downloads
  • #40
  • Apr 23, 2020 1:57am Apr 23, 2020 1:57am
reducing the risk by catching the high of the entry candle wont filter the bad trades but with money management losses will be small (risk to reward)
Attached Image (click to enlarge)
Click to Enlarge Name: EURGBPDaily 4-23-20.png Size: 132 KB
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